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The Visa Card is the most widely accepted plastic card by people traveling to the U.S., as well as people operating businesses in the U.S. Visa Incorporated is an American multinational commercial financial services firm headquartered in Foster City, California. It facilitates electronic cash transfers through Visa- branded credit cards, debit cards, and pre-paid debit cards throughout the world. It also serves customers in Canada, Europe and Asia.

Visa and MasterCard are the leading providers of the debit cards. In the past, only the cardholder had the power to control their transactions. This power was taken away from the cardholders in April 2005 when the Visa Card was introduced. Today, any customer can monitor his or her spending through the Visa Card and know exactly what purchases have been made. Furthermore, the Visa Card allows for online access from any location with Internet access.

The Visa Card allows cardholders to make purchases at millions of merchant locations worldwide. Merchants use Visa and MasterCard to facilitate safe, efficient and speedy transactions between customers and merchants. Visa and MasterCard are not recognized by every merchant in the world; however, they are universally accepted across the board. This ensures that all merchants can take advantage of the global marketplace provided by Visa and MasterCard. Visa and MasterCard both have payment processing capabilities including the ability to transact business over the Web. Furthermore, both companies offer several different methods of payment including checks, cash and checks.

A merchant should receive a credit card authorization response from the issuer almost instantaneously after a cardholder swipes a card at a merchant outlet. Once a cardholder authorizes a purchase, the issuer then processes the transaction and issues a receipt. The receipt issued is a proof that the cardholder did in fact authorization for a purchase. The process typically occurs within a blink of an eye and it usually takes just seconds.

Visa and MasterCard both employ multi-layered security systems to ensure cardholder information is protected and cannot be used to make unauthorized purchases. One such system involves a signature system. The merchant deposits funds into a bank account and then requests authorization to make Visa or MasterCard card transactions. The acquirer then signs the authorization request on an electronic pad after which it is stored and ultimately recorded by the merchant's software.

Once authorization has been obtained, the system will generate an authorization response. This response contains a secret key known only to the issuer that enables the merchant to authenticate the cardholder's signature before disbursing payment. To attain this signature, the merchant must send a request for authorization, along with the financial information necessary to process the sale. If the merchant is unable to receive the authorization response, the transaction is declined.

Only one authorized party will ever have access to the consumer's financial information. As such, merchants are alerted if unauthorized access is detected. This allows merchants to take action if their security system identifies unusual activity, which could include a sudden withdrawal of funds or charges from a customer's account. In addition, the Visa and MasterCard networks do not divulge the specific details of their authentication process, so the acquirer must perform due diligence and carefully evaluate all factors surrounding the possibility of authorization rejection.

Today, there are millions of cardholders from all over the world carrying Visa and MasterCard credit cards, making the market worth billions of US dollars. With this in mind, financial institutions around the globe are eager to partner with merchants wishing to accept these cards. However, in order to become eligible for inclusion in the merchant processing network, merchants must abide by the terms set forth by their processing network.

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