was established in 1958
Visa Payment Gateway Company was established on 18 September 1958. Today visa business is in more than 200 countries of the world. Visa has become the world’s number one payment company in these 64 years. Visa is the company that launched the world’s first credit card. Visa is the company that also installed the world’s first ATM machine.
credit card introduction
Today credit cards have become a part of the daily routine of crores of people around the world, but when the company first introduced the credit card, many people ridiculed the idea. The company started the credit card through an experiment, the experiment was named The Drop. Under this experiment, Visa sent 60 thousand credit cards via post to ordinary residents of California. The company wanted people to start using this new payment system.
what was the limit
Visa introduced the credit card in association with Bank of America for middle class and middle class merchants. Bank of America launched a paper card with a limit of $300 called the Bank America Card. Consumers could spend up to $300 which had to be paid later. The National Bank America Card was introduced in 1970, followed by the introduction of the first electronic authorization system in 1973. Credit cards have come a long way since then.