Merchant Accounts

Merchant Accounts

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Visa Merchant Account

Written by Patricia Tunstall
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Visa Merchant Account Has Long History

A Visa merchant account has an extensive history in the world of credit. Charge cards had their origin with Western Union's metal card extended to preferred customers in 1914. By the start of World War II, all kinds of companies had issued charge cards to their best customers, but the card was good only for purchases from the company itself. During the war, the government prohibited the use of any kind of charge card.

The aftermath of World War II saw credit cards beginning to be issued to consumers on a large scale. Banks took immediate note of studies indicating that card holders spent more and traveled more, and these financial institutions decided to enter the credit card world. The Diner's Club card issued in the 1950s was the first card that enabled holders to charge purchases from several businesses.

Modern Visa and MasterCard

Eventually, various cards merged or were transformed into Visa and MasterCard, which are credit card associations that handle such services as a Visa merchant account. Visa has always been an innovator in the credit card field, and for this reason has become the leading credit card association in the world. This association conducts over 50% of the world's credit card transactions and has issued over one billion cards!

This "not for profit" association of over 40,000 member banks has an excellent fraud prevention program incorporated into its credit card payment system to protect every Visa merchant account. Their security requirements for merchant account providers are stringent, so individual business owners can be assured of the highest security and protection available. Transactions are processed and personal/financial information protected by the extraordinary precautions built into a Visa account.


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