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| Operating area | Worldwide (exceptRussia) |
|---|---|
| Members | Over 100,000,000 |
| ATMs | 1.8 million in over 200 countries and territories around the world |
| Founded | April 1, 1982; 43 years ago (1982-04-01) |
| Owner | Visa Inc. |
Visa Plus is a worldwideinterbank network that provides cash toVisa cardholders.[1] As a subsidiary of Visa Inc., it connects all Visacredit,debit andprepaid cards, as well asATM cards issued by various banks worldwide bearing the Visa /Electron logo.
Plus System, Inc. started out as a consortium formed by 34 major U.S. banks to build a national network ofautomated teller machines (ATM). It initially was composed of 2,000 ATMs linking 1,000 banks and their customers in 47 states.[2]As the booming ATM industry outgrew regional networks and began to go nationwide in the mid-1980s, payment card giant Visa sought entry in the lucrative ATM network business and acquired a third of Plus System in 1987. Currently, there are over one million Plus-linked ATMs in 170 countries worldwide.[citation needed]
By default, Visa / Electron cards are linked to the Plus network, with Plus logo on the back of the cards. Plus is widely used as a local interbank network most common in theUnited States where networks such asSTAR,NYCE andPulse also compete. It is also used inCanada where it is usually combined withInterac, and inIndia andIndonesia where there are numerous competing interbank networks. The main competitor of Plus System is theCirrus network, which is owned byMastercard, Visa's longtime rival.
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