DEFINITION of 'Base I'

The data processing network used by Visa USA to process and provide authorization and authorization-related services for credit card transactions that occur through banks that are connected with Visa USA.

BREAKING DOWN 'Base I'

Base I was created in 1976 by Bank of America's IT staff. BASE stands for Bank of America System Engineering. The system was given this name because prior to 1973, Visa was known as BankAmericard.

RELATED TERMS
  1. Base II

    A data processing network operated by Visa USA for the clearing ...
  2. Commercial Visa

    A government-issued document that allows noncitizens to enter ...
  3. Bank Card Association

    An organization owned by financial institutions that licenses ...
  4. Universal Default

    A practice whereby a credit card issuer increases a credit card ...
  5. Settlement Bank

    The entity that facilitates the exchange of money between the ...
  6. Associate Bank

    A bank that is affiliated, usually through membership, in a regional ...
Related Articles
  1. Investing

    How Visa Counts On Your Free-Spending Ways

    The credit card transaction business is so profitable, Visa Inc. doesn't even bother lending money. Here's how they make their money.
  2. Investing

    Visa Stock at 52-Week Highs Ahead of Earnings (V)

    Ahead of Visa's second quarter earnings results due after the closing bell Thursday, the credit card issuer has paid off handsomely.
  3. Investing

    Visa to Acquire Visa Europe for 21.2 Billion Euros

    On Monday, world’s largest payment network provider Visa Inc (V) announced that it will strategically acquire its former subsidiary Visa Europe.
  4. Investing

    Why Visa Is a Solid Long-Term Bet

    Here's look at Visa, which has been an impressive performer since its IPO in 2008. It's now set to acquire Europe Visa.
  5. Investing

    Why Visa's Stock Is Running on Fumes

    Visa shares could see a pullback after it reports results on February 1.
  6. Investing

    Visa Notches Another Quarterly Earnings Beat

    Visa (NYSE: V) continues to perform well. In its first earnings release of this year, the credit card network exceeded analysts' estimates for both revenue and profitability. For its fiscal ...
  7. Small Business

    U.S. Visas for Entrepreneurs, Investors & Skilled Workers

    The options for getting a scarce U.S. visa. For the fourth year in a row, there will be a lottery for the H-1B visa for skilled workers.
  8. Insights

    Popular Places Where U.S. Citizens Need A Visa

    A U.S. passport will get you into many countries, but not everywhere. Here's how to visit five of the most popular destinations that require visas.
  9. Investing

    Visa Stock Has Room To Rise Further

    Visa stock has been crushing it in 2017 but may soar even more, fueled by top-line revenue growth.
  10. Investing

    Visa Stock Upgrade by Guggenheim (V, MA)

    Shares of Visa rose as much as 2.5% Monday, reaching a session high of $77.60 after the company received an endorsement by analysts at Guggenheim.
RELATED FAQS
  1. Which credit card company holds the honor of most profitable IPO?

    News of Visa's plans to go public created a buzz around Wall Street as soon as the papers were filed. The credit card giant ... Read Answer >>
  2. Can you pay off your Best Buy credit card in store?

    Learn how you can pay your BestBuy credit card in stores using cash or check. You can also pay by mail, online or over the ... Read Answer >>
  3. If I retire in the Philippines, will I be able to work or start a small business?

    Learn more about obtaining a visa, finding a job and starting a business in the Philippines. Find out more about minimum ... Read Answer >>
Trading Center