Visa & Master Debit & Credit Card

Visa was originated in 1850's when it launched it's pioneering credit card through Bank of America. After many years being a worldwide leader in a credit card industry, Visa became a public limited company in 2008 when it was recorded as the largest IPO in the US history. Since then, Visa is growing day by day increasing the number of credit card products and the outlets where the credit is being used.

Visa debit card is the most popular choice of Visa card in Australia. Visa debit card works exactly the same way as visa credit card. The only difference is that Visa debit card utilizes the funds directly from the holder's deposit account rather than increasing the credit debt of the holder. This way Visa debit card reduces the risk of interest charged on the holder's account and prevents him from paying extra fee.

By the end of September 2006, it was a breakthrough when the volume of Visa debit card grew 18 percent as compared to the previous year's percentage. The volume of Visa debit card reached at the level of US$2.5trillion unlike Visa credit volume that touched he level of US$2.0trillion

"Visa’s profit for the first quarter of 2012 was up 30 percent from the year before, mainly due to credit card use rising in the United States and overseas. Visa said American consumers charged 12 percent more on their credit cards for the quarter. Debit card use grew by 4 percent, the slowest growth in a year. Banks have eliminated some debit card rewards programs since October, when the government limited the fees banks can charge stores for card transactions. Visa has dominated the market for debit card transactions, which is why the slowdown isn’t good news. There’s also evidence MasterCard is swiping some market share in debit cards: its U.S. debit card transactions grew by 21 percent to $152 million."


(Source: http://www.forbes.com/sites/moneybuilder/2012/05/07/this-week-in-credit-card-news-63/)

7 May 2012: "HOUSTON: It's been 17 years since Tejano music singer Selena was killed, but she is still making history. Selena will become the first Latin American artist to be featured on a prepaid debit visa card.

Visa will make the card available starting May 16.

Selena was killed in 1995. Her family gave Visa permission and said they're exited about the project."

(Source: http://www.click2houston.com/news/Visa-unveils-new-Selena-prepaid-card/-/1735978/13070702/-/k5lbcf/-/index.html)

In many countries the use of debit card has become so extensive and has replaced the cheque and cash dealings. In Australia, MasterCard was first launched by Westpac bank in 2006. Commonwealth Bank of Australia in the only bank to issue Debit MasterCard to any account holder over 16 years of age otherwise, all the other banks have the age limit of 18 years or more to have a Debit MasterCard.