Visa: Difference between revisions
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|Description=Visa is an American payment card service that serves customers in many nations worldwide, founded by Bank of America in 1958. | |Description=Visa is an American payment card service that serves customers in many nations worldwide, founded by Bank of America in 1958. | ||
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Visa is an American payment card service that serves customers in many nations worldwide, founded by Bank of America in 1958 as BankAmericard. Bank of America gave up control in 1970 to a cooperative, and it was renamed Visa in 1976. The company facilitates electronic funds transfers as a payment processor. | |||
As a payment processor, Visa does not issue cards or offer credit; it provides financial institutions (e.g., banks) with tools that allow for transactions to take place between parties that are not served by the same institution or are not located in the same general region. | |||
==Consumer-impact summary== | ==Consumer-impact summary== | ||
{{Ph-C-CIS}} | {{Ph-C-CIS}} | ||
Visa has been refusing to process certain payments for completely legal transactions, on the grounds that these transactions were things that hurting their brand,<ref>{{Cite web |title=Visa Core Rules and Visa Product and Service Rules |url=https://usa.visa.com/dam/VCOM/download/about-visa/visa-rules-public.pdf}}</ref> most notably involving the delisting of games from [[Steam]] and itch.io for having adult content. There has been widespread backlash against Visa for forcing platforms to censor content that is perceived to hurt Visa's reputation. | |||
==Incidents== | ==Incidents== | ||
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==See also== | ==See also== | ||
{{Ph-C-SA}} | {{Ph-C-SA}} | ||
[[Collective Shout]] | |||
[[Mastercard]] | |||
==References== | ==References== | ||