[WORLDKINGS - WOWTIMES - ALMANAC EVENTS & ACHIEVEMENTS 2022] Outstanding breakthroughs in the successful 64 years of Visa Inc. (1958)

12-05-2022

(worldkings.org) Visa Inc. (stylized as VISA) is an American multinational financial services corporation headquartered in Foster City, California, United States. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards. Visa is one of the world's most valuable companies.

Nearly all Visa transactions worldwide are processed through the company's directly operated VisaNet at one of four secure data centers, located in Ashburn, Virginia; Highlands Ranch, Colorado; London, England; and Singapore. These facilities are heavily secured against natural disasters, crime, and terrorism; can operate independently of each other and from external utilities if necessary; and can handle up to 30,000 simultaneous transactions and up to 100 billion computations every second.

 

 

The company’s milestones:

- In 1958 - Bank of America launches BankAmericard, the first card with a ”revolving credit” feature.

- By May 1961 - The BankAmericard program became profitable for the first time.

- In 1966 - To grow the card program beyond their home state, Bank of America decided to franchise the BankAmericard to select banks all over the world.

- In 1970 - Bank of America passed control of BankAmericard to the various BankAmericard issuer banks which comprised the newly-established NBI, or National BankAmericard, Inc.

- In 1973 -  National BankAmericard launches the first electronic authorization system, followed by an electronic clearing and settlement system.

- In 1975 - The first debit card is launched.

 

 

- In 1976 - BankAmericard becomes Visa—a name that sounds the same in all languages. 

- In 1979 - The first Visa Travelers Cheques are issued in four currencies.

- In 1983 - Visa launches an automated teller machine (ATM) network, providing 24-hour “anytime, anywhere” cash around the world.

- In 1986 - Visa joined with the PLUS ATM network in 1986, offering its cardholders easy access to cash. Visa also develops multiple-currency clearing and settlement in 21 currencies.

- In 1993 - Visa is the first to apply state-of-the-art neutral network technologies to payments aiming to reduce card fraud.

- In 1995 - Visa check card debuts and Visa co-creates EMV, an industry chip card specification that ensures interoperability between all chip-enabled cards and terminals.

- In 2001 - Visa reaches 1 billion issued cards and launches the Zero Liability policy, which protects cardholders from liability for fraudulent charges.

 

 

- In 2004 - Visa introduces Advanced Authorization, which analyzes and assigns a risk score to every Visa transaction in real-time.

- On October 11, 2006 - Visa announced that some of its businesses would be merged and become a publicly traded company, Visa Inc.

- In 2007 - Visa forms a global corporation, while Visa Europe remains member-owned.

- In 2009 - Visa’s first global ad campaign celebrates how people everywhere need a better way to pay for the things they need and want.

- In 2021 - Visa announced the acceptance of stable coin USDC to settle transactions on its network

According to en.wikipedia.org; zippia.com. Source of photo: internet 


Bee (Collect) - WORLDKINGS (Source of photos: Internet)

 

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