Why VISA is so popular

Bank cards have become an integral part of our life. With their help, we receive a salary, pay for purchases in a store, or simply withdraw money through an ATM. One of the most popular payment systems is Visa. The company was founded back in 1970, when electronic payment systems were just in their infancy. Later VISA gained popularity all over the world, and today every bank of any country issues cards of this payment system.

In the 50s of the last century, credit cards were already actively used by US citizens. In fact, these were plastic cards with a number stamped on them. There was no magnetic tape, of course, since ATMs had not yet been invented at that time. Each bank had its own credit cards. Visa emerged as a result of the need to combine all lending opportunities into one system and centralize the management of financial flows. The founders were several large US banks.

In the early years of its existence, "Visa" was exclusively a credit card. Its owner could buy goods on credit and return the money later. Was visa popular at the time? Undoubtedly! Lending to the population in the United States has a long history. But in the 80s of the last century, a plastic card "Visa Electron" was issued, the appearance of which marked the beginning of the era of electronic financial circulation. Over the course of twenty years, the company has created a network of ATMs around the world, improved the electronic payment system and acquired the status of the undisputed leader in the field of financial customer service, which it successfully retains today.

The reasons why Visa is popular are more than obvious. First, the company stood at the very origins of the emergence of electronic finance. Secondly, thanks to the efforts of the owners of the company, a whole network of payment instruments was created. Third, its just convenient.

The secret of success from "Visa"

Today the company produces 25 different cards with their own unique capabilities. For example, the "Visa Signature" card is issued only to particularly wealthy clients. There are practically no restrictions on purchasing power. Holders of this card have a list of special discounts and unique opportunities. Another example is the Visa TravelMoney card. It is not difficult to guess from the name that this variety is intended mainly for withdrawing money from the account, it cannot be used to pay for goods. Used by tourists, thats why it is called "TravelMoney" (traveling money).

But visa has gained popularity for other reasons. The number of cards is not the only indicator of success. The payment system is recognized for the quality of the services it provides. There are hardly many people who could say something bad about the Visa card. Even if some problems arise during the operation of the card, they can be solved at the bank that issued it, or by contacting the technical support of the payment system itself. Each client will be provided with full high-level information support.

System capabilities also affect its popularity. The company supports three main types of cards:

    Prepaid cards. They began to be widely used 15 years ago. The card has its own encrypted value. That is, a certain amount of money, liters of fuel, time, trips can be stored on the card. Unlike debit cards, which are, in fact, an identifier key from a safe deposit box, where money is stored, prepaid cards are carriers of a certain value.
    Credit cards. For the first time Visa became popular precisely because of the simplified process of lending to the population. The client is issued a credit card with which he can make purchases on credit. True, then this debt will need to be repaid with interest.
    Debit cards. In most cases, this particular card is offered to the banks client. It is designed to deposit funds to a savings account and write them off if necessary.

This is why the visa payment system is so popular. Its simple, everyone can choose a card for themselves that will meet their needs.

Visa card security

They have been talking about the safety of using bank cards for a long time. There are many stories when a person lost funds from a card. If we analyze all cases of loss of money by theft, then they are divided into two categories:

    Physical methods of theft. Due to the great popularity of the visa system, there are many who want to cash in on the companys clients. And there are plenty of ways to do this. Despite the ever-improving means of protection, Visa cardholders are still vulnerable. And in most cases the fault lies with the owner. After all, before using the card, every ATM displays a warning that illegal readers can be installed on the ATM that can read and transmit information from the attacker: card code, number, balance and name of the owner. Check the ATM for unnecessary parts, and if something is wrong, immediately report it to the appropriate authorities. Customers are also constantly reminded not to divulge the secret code to enter the system.
    Virtual methods of theft. The Internet gave humanity not only the ability to communicate, entertainment and unlimited access to all the knowledge of the world, but also cybercrime. In addition to breaking into some secret archives or banking systems, cyber fraudsters are not averse to emptying someones bank account. Visa is popular offline, but people prefer not to use it on the Internet, for this there are electronic payment systems (PayPal, Perfect Money, Payza and others). The reason is that cybercriminals can get your card number even after a small purchase on eBay (online auction). For this, various programs, utilities and viruses are used to help steal money from unsuspecting users. This is the only reason why visa is not popular with netizens. That is, they use the services of a payment system, but use other safer payment methods to shop on the Internet.