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VisaVisa was the first credit card network—a payment infrastructure that allows a consumer's bank to "talk to" a merchant's bank when a purchase is made. Today, Visa holds more than half the US credit card market share by purchase volume, with a global business that processed about 257.5 billion transactions worth about $14T in 2025.
Bank of America launched the network to facilitate transactions after its famous 1958 "Fresno Drop," when 60,000 people woke up to find a strange rectangular piece of plastic on their doorstep in a stunt the bank pulled to distribute the first credit cards.
Bank of America soon needed to license the network to other banks so they could participate in the growing national credit card system. A Seattle banker named Dee Hock was tapped to organize the increasingly chaotic system. By 1976, Hock had given the network the name "Visa" and had become Visa USA's first CEO.
Today, many other banks (as well as institutional investors) help govern and profit from the network, with Bank of America maintaining a roughly 1.5% share. Visa primarily makes money through fees it collects with each credit card transaction and by charging banks to use its services.Explore Visa
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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. BankrateVisa 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. Founders PodcastRoughly 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. CNBCThe name Visa was conceived by the company's founder, Dee Hock.Visa was previously called National BankAmericard Inc. (NBI), but as other banks began to license the network and it expanded internationally, it needed a name less associated with both Bank of America and America itself. Hock believed that the word "Visa" implied no national identification and was relatively easy to pronounce in any language. Logo My WayStablecoins now transfer more value than Visa or Mastercard.Because stablecoins operate on public blockchains, transfers can occur nearly instantly without intermediaries, unlike traditional credit card networks. This has fueled stablecoins' adoption within the crypto world and in cross-border payments. Stablecoin transfer volume rose from about $3B in 2018 to roughly $18T in 2024, overtaking Visa's roughly $16T and Mastercard's $10T. Visual CapitalistVisa data shows Muslim spending spikes at night during RamadanFasting during the day reschedules economic activity to the night. Visa's spending data shows a surge in Muslim-majority markets during Ramadan at night as restaurants and retailers orient themselves around iftar. The pattern has become a significant target for advertisers and brands. VisaVisa overstays account for nearly 40% of illegal US entriesIn fiscal year 2023, approximately 510,000 people overstayed their visas, while 860,000 crossed the border illegally, meaning overstays accounted for 37% of the total number of new unauthorized arrivals. This represents a shift from 2007 to 2018, when overstays outnumbered border crossings, to 2019, when illegal crossings surged again. StatistaExplore the "winners and losers" of the Trump administration's H-1B visa feeIn this episode, experts discuss the rationale behind the new $100K fee, citing concerns about abuse of the H-1B program. Some economists warn that it could spur offshoring, reduce innovation, and create ripple effects on wages and talent supply. CNBCPresident Trump implemented a $100K fee on new H-1B visa applicationsIn September 2025, President Trump announced a $100K application fee for new H-1B petitions, framing it as a way to limit misuse of the program. His administration later clarified it was a one-time fee for new applicants, not an annual charge. (Some users may experience a paywall.) Financial TimesCritics call H-1B the "outsourcing visa"Large IT firms, especially in India, have used H-1Bs to place workers in US offices, train them on client systems, and then shift the work overseas at lower cost. This practice fuels criticism that the visa facilitates offshoring. Economic Policy InstituteStudy shows H-1B visas depress wages and reduce consumer tech costsA paper from the National Bureau of Economic Research found that without H-1B workers, American computer scientists would earn 2.6% to 5.1% more and domestic employment could rise by 11%, but consumers would pay more for advanced technology, and output would decrease. National Bureau of Economic Research High demand forces H-1B visas into a lottery system each yearBecause demand far exceeds the annual cap—65,000 new visas plus 20,000 for US master's graduates—employers must enter a lottery for new H-1B slots. In recent years, several hundred thousand petitions have competed for just 85,000 openings. BoundlessEmployers must apply for H-1B visas on behalf of foreign workersTo hire an H-1B worker, US employers first file with the Department of Labor, then petition the US Citizenship and Immigration Services. They must attest that they won't replace American workers, and that they will implement stricter rules for firms that rely heavily on H-1B visas. BoundlessThe Immigration Act of 1990 created the modern H-1B visaSigned by President George H.W. Bush, the 1990 Immigration Act split the broad H-1 category into specialized visas, establishing the current H-1B for "specialty occupations" requiring at least a bachelor's degree. The H-1A, for registered nurses, ended in 1997. Immigration HistoryThe first H-1 visa was created in 1952Congress 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. US State DepartmentH-1B visas let US employers hire skilled foreign professionals in specialty occupationsThe H-1B is the main US program for temporary high-skilled workers, covering roles in technology, engineering, medicine, and finance. Issued for up to six years, it often serves as a pathway to permanent residency. Pew Research CenterVisa, 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%. WalletHubBank 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. AcquiredWhy American Express charges merchants more than other card companies to accept AmExEach 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. The Motley FoolIn 2018, the Supreme Court sided with American Express in a case that significantly changed antitrust regulation.The US Department of Justice sued Visa, Mastercard, and American Express in 2010 over alleged anticompetitive contracts with merchants. While Visa and Mastercard settled out of court, American Express went to trial and had its case taken all the way up to the Supreme Court—which ruled that both sides of a transaction business must be analyzed to determine a monopoly. Network Law ReviewMultiple legal pathways exist for immigrating to the United StatesThis comprehensive guide outlines various routes to US immigration, including family-sponsored and employment-based visas, as well as humanitarian protections. Navigate the complex American immigration system and understand the options available to prospective immigrants seeking legal entry. American Immigration CouncilThe new H-1B fee will have a major negative effect on IndiaBecause those born in India receive about 70% of H-1B visas, the $100K fee could sharply limit Indian IT firms' access to US markets and redirect skilled Indian workers to other countries. BBCThe Trump administration said the new H‑1B fee curbs abuse but still attracts top talentIn announcing a fee on new H‑1B petitions, the Trump administration claimed the visa was exploited to replace American workers and suppress wages. Officials argued that a steep fee would deter abuse while still allowing employers to bring in the "best of the best" temporary foreign talent. Trump White HouseCongress temporarily raised the H-1B cap during the dot-com boomTo meet soaring demand for tech talent in the late 1990s, Congress lifted the H-1B cap from 65,000 to 195,000 visas between 2001 and 2003. The increase—tied to the dot-com bubble—lapsed once demand slowed, but an additional 20,000 slots for advanced degree holders were added. Migration Policy InstituteStudies link H-1B workers to patents, innovation, and productivity growth in the USResearch shows that H-1B visa holders boost innovation: Firms that employ many H-1Bs file more patents. Economists estimate that foreign STEM workers helped explain 30% to 50% of nationwide productivity growth from 1990 to 2010, while immigrant inventors disproportionately generated high-value patents. Cato InstituteAdvocates for restricting birthright citizenship argue that some parents aren't 'fully subject to US jurisdiction'Proponents of limiting birthright citizenship claim that undocumented immigrants and temporary visa holders do not meet the 14th Amendment's "subject to the jurisdiction" requirement, arguing their allegiance remains with another country. Prager UPresident Donald Trump signed an executive order in 2025 to restrict birthright citizenshipIn 2025, President Trump signed an order attempting to end automatic citizenship for children born to undocumented immigrants or temporary visa holders—limiting it to those with a US citizen or permanent resident parent. The Trump White HouseListen to a podcast episode from 1440's editor in chief that explains how a credit card transaction works behind the scenes.When you buy even something as small as a $5 latte, a global relay between banks and networks like Visa and Mastercard is triggered. It all started with a 1958 campaign from Bank of America that jump-started the credit card revolution. 1440 ExploresAs of 2024, about 77% of the world's gold reserves have been minedAbout 216 million metric tons—about 0.4% of the Great Pyramid of Giza's volume—have been extracted and used primarily for jewelry. The remaining reserves are estimated based on chemical analysis of rock samples extrapolated to the entire mass of Earth's crust. Visual CapitalistWatch 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." 1440The Army–Navy rivalry has a long history of mascot heists For decades, spirited cadets and midshipmen have plotted covert missions to steal each other’s mascots—Army’s mule and Navy’s goat—turning the already fierce football rivalry into a game of elaborate pranks and counter-pranks. VICEWatch the Super Bowl commercial that launched DiscoverA Sears subsidiary, the financial services company Dean Witter, launched Discover Card through a Super Bowl commercial during Super Bowl XX. Ad AgeMerchants have to pay credit card transaction fees each time a card is swipedCredit card networks such as Visa, Mastercard, and American Express must calculate fees for not only the customer, but also the merchant in every transaction. NerdWalletVisualizing Byzantium in the year 1200This is a computer reconstruction of the Byzantine capital at its apogee, just before the Fourth Crusade. Alongside detailed renderings of the Hippodrome and Hagia Sophia, it includes dozens of the imperial city’s less famous monuments, many of which can still be found in modern Istanbul. The reconstruction is a work in progress, and the Byzantium 1200 X account routinely posts updates. Byzantium 1200Switzerland is widely considered the world capital of cheeseThis charming infographic looks at the cheese-related habits of Europe’s top three cheese-producing countries: Italy, France, and Switzerland. Cheeses in France are reported to be the lightest, and Swiss cheeses the heaviest. Paolo Crocè Container ships are just a fraction of total traffic via the canalWhile more container ships traverse the canal than any other type of ship, vessels carrying dry bulk goods, vehicle carriers, chemical tankers, passenger ships, and more also pass through the Central American passageway. Visual CapitalistWatch insects and animal pollinators in slow motionLouie Schwartzberg's "Moving Art" series showcases slow-motion footage of oceans, forests, deserts, flowers, and more. In this excerpt, organisms such as bats, monarch butterflies, bees, and hummingbirds are shown interacting with one another and with flowering plants. OWNVisualizing New York City's public transportation commutesNew York City is one of the largest cities in the world, and transports one of the largest numbers of commuters on a daily basis. This data visualization tells the stories of those commuters, showing the varying volume of travelers throughout the week and day, where they are going, and maps of high-traffic areas like stadiums and midtown. Dive into the data here. MapBoxVisualizing the symbols and history of world flagsMore than 200 world flags feature high-intent designs, projecting ideals and values to the world through archetypal symbols, colors, and shapes. This page effectively depicts the data behind symbol and shape usage, how much each country's flag has changed over time, the most popular colors used, and more in a series of elegantly simple charts. Flag StoriesVisualizing how we dream via Google search trendsWhen dreams perplex us, we often want to understand them—and in the age of Google, millions go to its search engine to find answers. Now, researchers have compiled a decade's worth of dream-related queries to glean dream trends across seven languages. See what dream was most commonly searched in Arabic in 2015, or what fears and hopes are specific to one culture and time alone with this unique visual essay. Federica FragapaneVisit global national parks from your living roomGet your fill of incredible scenery with this collection of 17 different virtual tours of national parks. Catch the Northern Lights over Abisko National Park in Sweden, or explore the famous red sand dunes of Namib-Naukluft National Park in Namibia. Trafalgar TravelVisualizing decades of stock market performanceStock markets and the indexes that track their biggest companies tend to ebb and flow, with long growth periods punctuated by shorter recessions. Track the 60-year history of one of the most common stock market indexes, the S&P 500, with this data visualization. The chart highlights the long-term durability of markets despite appearance of short-term volatility. Visual CapitalistVisualizing a joint under attack from rheumatoid arthritisA particularly difficult arthritis subtype is rheumatoid arthritis, a painful condition provoking a vicious cycle of joint inflammation, destruction, and dysfunction. It begins with a misfiring of the patient’s own immune system—for unknown reasons, it identifies joint and cartilage cells as foreign, initiating an attack to eliminate the supposed "invaders." NatureVisualizing the enormity of plastic waste compared to global landmarksThe team at Reuters Graphics visualizes the world’s addiction to plastic bottles. Around the world, almost 1 million plastic bottles are purchased every minute. The illustrations included in this visual explainer show what that pile of plastic would look like if it was collected over longer periods of time and how large the piles would be compared to famous landmarks. ReutersVisualization of printing synthetic DNAEver wonder how synthetic DNA is made? Discover how GenScript uses innovative technology to synthesize precise, high-quality DNA at a larger scale than ever before. YouTubeVisualize the impact of approximately 9,000 metric tons of satellites and space debris orbiting Earth—70% of which, including the International Space Station and the Hubble Space Telescope, do so in low Earth orbit.The space junk problem involves millions of objects orbiting the Earth at incredible speeds. Coupled with the fact that all of this is taking place in space – an environment most of us are unfamiliar with – this means it is difficult for many people to visualize the scale of the problem. This piece from the Financial Times serves as a valuable tool for grasping why this issue is important. Financial TimesVisualizing where happiness comes fromResearchers asked 10,000 participants to list 10 things that recently made them happy. One author broke down the responses into subject-verb-object categories, isolating the people and events that made responders satisfied. The result highlights how simple things like having dinner or watching a movie made someone happy. Dive in and look for some ideas or tips on feeling happy today with this fascinating visualization. FlowingDataVisualizing the economic impacts of 5G5G is set to revamp industries around the world, but the benefits may not be equally distributed. This nifty graphic illustrates what the global landscape may look like in 2035. Visual CapitalistVisualize energy sources and uses across the USWant to understand the basics of America’s current energy situation? The National Academies, advisers to the nation on science, engineering, and medicine, provides objective information about the United States’ current energy sources and uses, as well as a look forward to the future of energy. What You Need To Know About EnergyVisit these 'blue zones,' where people live the longestBlue zones, a term coined in 2004 by National Geographic Fellow Dan Buettner, are regions in the world where people live the longest and healthiest lives. Researchers have identified a few key aspects defining the culture of these areas—physical activity, diet, purpose-driven lives, and more. Explore the top five blue zones from across the world here. Travel + Leisure
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