What is a visa card?

Credit

The credit is known in English as (Credit); It is a contract between a person through which he obtains a sum of money from one of the financiers, be it a bank or a financial institution, and the term credit is also used to refer to the relationship between the financial assets of individuals, and the value of the obligations contracted by them, which appear in the financial report on results.

Other definition of credit is that it is an agreement between a banking institution, such as: banks or investment financial institutions, and someone called a borrower or client, and through this agreement, private funds are deposited with the client in their bank account, and Each credit card is associated with a credit card, you need it and you must comply with the special conditions of the banking institution that provided you with the card; So that it can be used legally and correctly.

Visa Card

The Visa card is a plastic and electronic card that is linked to bank accounts, and helps to use the money available in the account in exchange for deducting a small amount of money, in exchange for obtaining this banking service; Therefore, the Visa card is considered one of the things that cannot be dispensed with in banks, which is used in many purchases and sales.

The use of these cards dates back to the beginning of the 20th century AD, specifically in the year 1920 AD; It was first used in the US; In order to facilitate a set of financial operations, it then witnessed wide dissemination with banks seeking to issue a set of special designs on this card, which later became an essential part of banking and finance work.

Uses of The Visa Card

The visa card is used in many public areas, which provides comfort and ease to the person who uses it; Because it reduces the time and effort spent dealing with money; Especially if the required amount of money is not available at the moment. Uses of the Visa card:

• Get money from the account: It is one of the most common uses of this card, and perhaps the most important; Because the idea of ​​designing this card came about to make it easier to manage money and get it when you need it.
• Card payment: it is a relatively modern way of managing a Visa card; It has been used to make purchases when visiting the markets and the main stores that use this type of card for payment; Because it helps cover large amounts of money, which may not be with the buyer at the time.
• Online banking transactions: It is one of the most recent uses of Visa cards, which appeared together with technological developments and the spread of the Internet among people; Many private banking transactions in banks, or commercial affairs, have gone from traditional use to the use of the Internet, as one of the modern means, which contributed to the provision of tools that help pay money, in exchange for purchases through of the websites. from online stores.

Visa Card Security Features

The Visa card is characterized by a set of security features that make it better than other digital cards, and the most important of these are:

• Signature panel: It is a secret rectangle that appears behind the visa card, and is used as an electronic verification method to verify that the cardholder's signature matches their signature written in the bank, which helps to ensure their identity personal when using the card.
• Card Confirmation Value: This is a three-digit numeric value, which appears in the form of a square next to the signature panel, and generally represents selected numbers from the bank account number.
• Bank identification numbers: They are four digits that are used to indicate the private bank on the card, and they must also verify that they match the first digits of the bank account.
• The name of the cardholder: It is the official and real name of the cardholder, who only has the right to use it in all financial transactions.

Types of Visa Cards

• Credit card: It is one of the best known types of cards, circulates among people, and is considered the most common and used in all countries of the world; They are linked to bank accounts and are used to track operations based on them; Whether they are withdrawals, deposits, purchases and other operations; Therefore, it is issued to bank account holders so that they can take advantage of the benefits it offers.
• Student card: It is a new type of visa card, which is designed specifically for university students, calculates an interest rate lower than the general interest on other accounts, and provides students with many banking services, including payment of fees university and telephone. services, cell phone, and any other economic transaction that the university student may need during the period of his studies at the university.
• Business card: It is a special type of card, which is designed to carry out private business in companies and institutions; Therefore, it is directly related to the financial transactions of sale through entrepreneurs, and is issued under special conditions.
• Prepaid Card: It is a card that is based on the idea of ​​depositing the amount of money in advance in the account, and when the purchase is made with this card, the value of the purchases is deducted from your available financial balance, and follows using while it has a money balance, and when it expires, the owner will have to recharge it again; So that it can be used in financial operations.

Credit Card First Video

So, before the credit card was in the hands of each of us, how did its story begin?