Did You Know: Visa Credit Card Facts

Visa Incorporated controls the largest portion of the credit and debit card network worldwide, with a market share that exceeds 47 percent. For over fifty years, Visa has helped to build a system that allows consumers, organizations, and governmental agencies to utilize digital currency instead of checks or cash.

As of September, 2009, there were 1.8 billion Visa cards in force throughout the world. This figure includes credit cards, debit cards, and prepaid cards; for every $100 in consumer spending, about $14.60 is spent using a Visa-branded card.

The Visa credit cards are accepted at over 20 million merchants all over the world, both at physical store locations and online. For a number of events, the Visa credit card is the exclusive card, meaning that no other brands of credit cards are accepted. Visa is the official card for the Olympic Games up through the 2020 games, the National Football League, the Kentucky Derby, and NASCAR events.

Although Visa controls a very large credit card empire, a customer who wants a Visa credit card must obtain their card through one of thousands of affiliated banks, financial institutions, and other organizations. Visa co-brands its credit cards through these partner organizations, allowing the partner to process applications, set certain terms and conditions, and collect payments.

Visa`s value-added services are much appreciated by holders of the Visa credit card; these services include tailored rewards, travel assistance, supplemental rental car insurance, and emergency card replacement. In addition, Visa`s partners may also offer value-added extras in conjunction with their co-branded card.

Visa`s commitment to innovation has resulted in a number of technological developments that enable easier use of the Visa credit card. Recent innovations include mobile payments using a consumer`s mobile device and embedded microprocessor chips that enhance security and payment speed.

With credit card fraud and identity theft on the rise, Visa takes credit card security very seriously. The company`s "Verified by Visa" program provides an extra layer of online shopping security, and the 3-digit security code found on the back of each Visa credit card reassures merchants of cardholder authenticity when purchases are made online or over the telephone. Visa`s real-time fraud monitoring program constantly scans the transactions base for any sign of suspicious activity and provides instant alerts on questionable transactions.