The name Visa was conceived by the company's founder, Dee Hock.

Bank of America helped establish Visa as a global credit card network business after it rolled out its first credit cards.

At the time, those credit cards were called "BankAmericards." Today, Bank of America owns less than a 2% share of Visa—many other banks (as well as institutional investors) help govern and profit from the network.

Visa Founder Dee Hock abruptly left the company in 1984.

Hock was arguably an unlikely candidate for the founder of one of the most successful banking organizations of all time. He grew up extremely poor in rural Utah without indoor plumbing, but would go on to create one of the most innovative financial technologies of the 20th century.

Visa, the first credit card network, still dominates competitors with a roughly 52% market share by purchase volume.

Among the major credit card companies in the US, Mastercard had about 25% of the market share in 2025. American Express had roughly 20%, and Discover had the smallest market share of about 4%.

American Express charges merchants more than other card companies to accept AmEx, making Visa a more accessible option for many merchants.

Each card network charges merchants a discount rate, which is a fee merchants pay to accept cards. American Express charges higher discount fees than competitors like Visa and Mastercard as the business is more reliant on fees for operation.

Roughly 39% of Visa's revenue comes from data processing fees.

Visa gets roughly 0.13% to 0.14% of each transaction. About 32% of its revenue stems from the money banks pay Visa to use its services, and roughly 26% of its revenue comes from international transaction fees.

Watch a video that visualizes what really happens inside a credit card network when you make a purchase.

Every tap sets off a lightning-fast relay. When someone buys coffee with their Visa, a tiny "runner" races between the coffee shop's bank, Visa's network, and their bank—all in under a second. The catch? No money has actually moved yet. Here's what really happens behind that instant "Approved."

American Express is credited with inventing the traveler's check

In the 1890s, then American Express President James C. Fargo was frustrated that he couldn't get cash while traveling in Europe outside of major cities. Marcellus Berry, an American Express employee, came up with the idea of a traveler's "cheque": a prepaid check, similar to cash, that requires the signature of both the customer and the receiving institution to be valid. American Express never modernized the spelling of the word "cheque" and stopped providing them at the end of 2020.

The first H-1 visa was created in 1952

Congress established the original H-1 visa in 1952 through the Immigration and Nationality Act of 1952 to let US employers temporarily hire foreign professionals of "distinguished merit and ability" when qualified American workers were unavailable—a precursor to today's H-1B program.

The history of credit cards begins with the 'Fresno Drop.'

On a 1958 morning in Fresno, California, about 60,000 people woke up to find a strange rectangular piece of plastic on their doorstep without explanation. Those chosen for the "Fresno Drop" didn't know it yet, but Bank of America was behind the credit card delivery stunt.

How the Bank of Italy became Bank of America

Amid the devastation of the 1906 earthquake in San Francisco, Italian immigrant and local banker Amodei Giannini managed to keep hold of a substantial amount of currency. On a handshake, Giannini loaned needy locals money to rebuild. The enterprising banker would go on to form one of the first banks for the middle class, the Bank of Italy, which would go on to become the Bank of America in 1930. Read about the founder here.

See an original Diner’s Club charge card

Before credit cards, there were charge cards from companies like Diner’s Club. While credit cards allow cardholders to carry a balance from month to month (potentially accruing interest), charge cards like Diner’s Club cards had to be paid off right away.

What is VantageScore?

The three major credit bureaus introduced the VantageScore credit score in 2006 as a competitor to FICO. It’s calculated slightly differently from a FICO score, though just like the FICO score, it’s widely used by lenders.

Early Americans hated the idea of a central bank

After a series of economic panics induced by a lack of reserve cash at regional banks, the architects of today’s Federal Reserve opted to emphasize the goal of the bank as a reserve at the federal level—thus creating the lasting name.

The American Research and Development Corporation is considered the first modern VC firm

Best known for investing in companies that wanted to utilize some of the technology developed during World War II, the ARDC’s cofounders all held prestigious positions at places like MIT and the Federal Reserve Bank of Boston.

Watch the Super Bowl commercial that launched Discover

A Sears subsidiary, the financial services company Dean Witter, launched Discover Card through a Super Bowl commercial during Super Bowl XX.

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

The payments tool Zelle was created by big banks to compete with apps like Venmo

Zelle is an alternative to Venmo, where people can pay each other back for expenses like apartment utilities or dinner. But its origin story has more to do with big finance than small transactions.

Meet Alphonse Desjardins, a credit union pioneer

The first credit union opened in Germany in 1864, but the bank alternative didn’t reach North America until 1901. That’s when Canadian journalist Alphonse Desjardins introduced the concept to his hometown with a starter 10-cent deposit. Desjardins helped launch the first US credit union just eight years later. This engaging timeline highlights Desjardins, his contributions to credit unions, and how the institutions have evolved over the last 100-plus years. Scroll through the timeline here.

Coined in 1971, the man credited with naming Silicon Valley was originally writing about semiconductors

Silicon Valley gained its name from an article published in January 1971, in Electronic News. Author Don Hoefler used the term in his headline for an article he was writing about the semiconductor industry. Hoefler is credited with naming the multi-trillion dollar area that is still called Silicon Valley today.

These famous brands used to have different names

Did you know that Nike used to be called Blue Ribbon Sports? Or that Google was originally named BackRub? Getting a brand's name right is a tough job; there's an entire cottage industry of brand naming agencies to prove it. See which brands got it right the first time—and which ones might be better off with their current names—in this article.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Nvidia was founded in a Denny's restaurant

Nvidia is one of a handful of companies valued at more than $1T. In its early days, the semiconductor company sold GPUs, or graphics processing units, that were used for video games. But in recent years, Nvidia’s chips have been used for crypto and AI. Nvidia has faced several setbacks on its journey, including when the US sanctioned chip exports to China.

Executives at American Online wanted to shut down AIM

Despite not seeing value in a service that could not be charged for, executives were pushed by the development team behind AOL's Instant Messenger to keep it free, which helped it reach 36 million active users. Screenname selection and away messages allowed users to express their individuality, and the use of emoticons sets the tone for future internet communication.

Napa was the second officially sanctioned wine-growing region in the US

In 1979, the ATF created the American Viticultural Area system. Modeled on similar European systems, it delineated wine-growing regions in the United States. Napa Valley was the second AVA established—the first was in Missouri. Now, any wine labeled with the Napa Valley AVA must source 100% of its grapes from that area.

Digital passports allow identity verification to be digitized

By scanning the security chip on the back of passports and capturing images or video of a person, apps like Google Wallet and Apple Wallet create a digital version of the document. Some states have also developed their own apps for digital driver's licenses.

Find an accredited credit union near you

The National Credit Union Administration is to credit unions what the Federal Deposit Insurance Corporation is to traditional banks—it insures deposits of up to $250,000 per customer per account. This lookup tool allows you to search for nearby credit unions so you can check that a business is accredited by the NCUA before you begin your banking journey.

How the National Science Foundation helped cement the use of American Sign Language

Before the 1960s, deaf students were taught to read lips and pronounce words without signing, which was not considered a true language. After noticing that students nonetheless signed when communicating, American linguist William Stokoe conducted NSF-funded research that showed that signing met the definition of oral languages, thus establishing ASL.

The name 'Silicon Valley' arose from the founding of Shockley Semiconductor Laboratory in Fairchild Semiconductor in 1956-57, founded near Stanford University in Palo Alto

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

A vending machine run with Anthropic's AI went out of business after it was convinced to give away items for free and sell a video game console.

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

The Dracula character, now seen as the vampire archetype, was inspired by a seafood-induced nightmare its creator experienced.

Brandi Chastain, the star of the 1999 US victory over China in the 1999 Women's World Cup, was a last-second choice to take the penalty kick that sealed the victory.

Budweiser stores yeast derived from the original 1800s strain in a secret bunker, which only the Head of Yeast Management can access—not even the CEO

This real-time tracking of the hantavirus cruise ship outbreak in May 2026 offers a unique glimpse into the global reach of the outbreak and whether the virus sickened passengers and their communities around the world.

Explore fun facts from the USPS, including unique post office buildings, a stamp that traveled past Pluto, and more.

After 25 people used virtual reality headsets to practice flying with virtual wings—flapping their arms—their visual cortex responded to the wings almost as if they were real arms, treating them as body parts.

When a Paris department store hesitated to sell Estée Lauder's perfume, she 'accidentally' broke a bottle, causing the smell to spread throughout the store and shoppers to start asking to buy the scent.

Some Pokémon have been named after real and fictional organisms, while some real-world species have been named after Pokémon, such as Chilicola charizard and Binburrum zapdos.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

Sony set the standard for cylinder-shaped batteries when it repurposed manufacturing equipment used to make rolls of magnetic recording tape.

Tattoos remain visible on your skin thanks to immune cells called macrophages

20,000 letters to the advice columnist 'Dear Abby' provide insight into prevailing sex, religion, and LGBTQ fears, anxieties, and concerns from the 1950s onward.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

'Grand Canyon of the Yellowstone,' a work by American painter Thomas Moran, inspired Congress to establish Yellowstone National Park.

El Niño, Spanish for 'the boy,' was named after Jesus Christ because the phenomenon resembled the weather changes observed around Christmastime.