Visa was originally “BankAmericard,” the pioneer in bank-related credit cards. (Before Visa and its competitor, MasterCard, came along fifty years ago, stores would issue their individual charge “plates” to preferred customers so that they could run a tab instead of having to pay cash.) Today, like its competitor, Visa is a multinational with shares listed on the NYSE. It is headquartered in San Francisco.

Visa can be used to fund online gambling and to receive winnings in the form of a credit to the account. While many websites will accept deposits via Visa, not all will pay withdrawals the same way, preferring to use checks or wires. The deposit operation is called a “CNP” or “Cardmember Not Present” transaction, subject to additional verification steps as part of processing. A program called “Verified by Visa” has been instrumental in cutting back substantially on credit card fraud, especially over the Internet and telephone.

Both Visa Credit Cards and Visa Debit Cards are in wide circulation. (Debit cards are funded by a person’s bank balance or a prepayment into the card account; Credit cards are “fronted” by the bank up to the customer’s credit limit.) Both can be used as ATM cards.

For purposes of online gambling, each type works the same way. Problems have arisen because US regulators have sought to keep Visa and its competitors from honoring transfers to offshore gaming sites. Until a change in the law or regulations, the companies are voluntarily rejecting transfers when they become aware that they are to known gambling accounts. Thus, for US residents, Visa is increasingly becoming a difficult method for funding gaming accounts online.

The main benefit to using Visa online, when the transactions are permitted to go through, is that it is quick, secure, and relatively inexpensive. The fee for receiving money is around 4.0%, and the casino may impose that on the customer. This needs to be compared with fees and charges for sending a check by courier or a wire.