![]() 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. 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. By 1970, BofA gave up direct control of the BankAmericard program, forming a cooperative with the other various BankAmericard issuer banks to take over its management. In response to competitor Master Charge (now Mastercard), BofA began to license the BankAmericard program to other financial institutions in 1966. Visa was founded in 1958 by Bank of America (BofA) as the BankAmericard credit card program. In 2015, the Nilson Report, a publication that tracks the credit card industry, found that Visa's global network (known as VisaNet) processed 100 billion transactions during 2014 with a total volume of US$6.8 trillion. ![]() Visa does not issue cards, extend credit or set rates and fees for consumers rather, Visa provides financial institutions with Visa-branded payment products that they then use to offer credit, debit, prepaid and cash access programs to their customers. Visa is one of the world's most valuable companies. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards. ( / ˈ v iː z ə, ˈ v iː s ə/ stylized as VISA) is an American multinational financial services corporation headquartered in San Francisco, California.
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