Visa Inc. (or) (aka Visa, stylized by visa) is a U.S. multinational financial services company based in Foster City, California, United States. It facilitates electronic transfers of funds worldwide, most commonly through credit cards, debit cards, debit cards and prepaid cards. Visa does not issue cards, grant credit or set prices and fees to consumers; instead, Visa provides visa-branded payment products that it then uses to offer credit, debit, prepaid and cash access programs to its customers. In 2015, the Nelson Report, a publication that tracks the credit card industry, found that Visa's global network (known as VisaNet) handled 100 billion transactions in 2014 with a total volume of $6.8 trillion. It was launched in September 1958 by Bank of America (BofA) as a BankAmericard credit card program. In response to the master's competitor In charge (mastercard now), BofA began to license the BankAmericard program to other financial institutions in 1966. By 1970, BofA relinquished direct control of BankAmericard and formed a consortium with various other BankAmericard issuing banks to take over its management. Visa was then renamed in 1976.Almost all Visa transactions worldwide are processed through visaNet, which runs directly into one of four secure data centers, located in Ashburn, Virginia. Highland Farm, Colorado; London, England; Singapore. These facilities are strongly sured against natural disasters, crime and terrorism; Independently of each other and from external facilities if necessary; Visa is the world's second largest card payment organization (debit and credit cards combined), surpassed by China UnionPay in 2015, based on the annual value of transactioned card payments and the number of cards issued. However, since UnionPay's size depends primarily on the size of its domestic market in China, Visa continues to be the dominant banking card company in the rest of the world, holding a market share of 50% of total card payments.