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CREATION OF THE POKER VISA CREDIT CARD AND THE VISA PROTOCOL

 There are several brands of cards available in the market. One of the most popular brands of them all is the “Visa Credit Card”. Those debit cards which have the visa logo on them are not the same as “Visa Credit Cards”. The Visa on the debit cards stand for “Visa International Service Association” situated in San Francisco.

The “Visa Credit Card” was launched in the year 1976. Its name is based on “BankAmericaCard” issued by the “Bank of America”. This was the predecessor of the “Visa Credit Card”. The gold logo on the card represents the colour of the California Hills and the blue logo represents the sky.

An association of the various banks like Toronto – Dominion Bank, Royal Bank of Canada, Bank of Nova and the Canadian Imperial Bank of Commerce issue the “Visa Credit Cards” as Chargex. The French Visa even today uses the logo of the “BankAmericaCard”. It was known as “Carte Bleue” meaning blue card in France. BarclayCard was the only authorised bank to issue the card.

Three different types of Visa Cards exist. Those debit cards, which have the visa logo on them. The Credit Cards with the visa logo on them. There are also prepaid cards that are paid using cash accounts.

Two protocols were developed so that the consumer services are standardized. The “Visa International Association” made the credit and debit protocols based on the type of cards marketed by them.

The “Visa Credit Card” utilizes the credit protocols. The cards will be useful at the bank ATM’s or the POS terminal’s. On the back side, the card holder’s signature is printed for identification. The Credit protocol is used by the Visa Credit Card holders though it is marketed as debit cards or prepaid cards. This is because of the Visa logo that is printed on the front side of the card.

Many card holders are confused by the words debit and credit. The words are not the same as their dictionary meaning. The debit cards can also be used for transactions that require credit. There is a myth that credit cards can be used only for loans and debit cards only for saving accounts only. This is absolutely false. The naming conventions are used because of the backend methods that are used to handle them.

The following rules are included by the associations for developing the “Visa Credit Cards”:

  • The card holders are required to sign a receipt after each transaction so that their card is not misused even if the card holder loses it.
  • It explains the reasons for a bank to deny a transaction. It also explains how banks should co-operate to prevent fraud.
  • It ensures some standard protection from false identification and fraud.

The Visa Company was founded by Dee Hock. It is now universally accepted. But, to avoid potential conflicts the consumers should be aware of the rules before utilizing their credit cards.

The second biggest credit card network is the “MasterCard”. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.