All this happened, more or less.

Another example of the difference between invention and innovation:

1. invention, i.e. coming up with the original idea:

The accepted inventor of the bank credit card was John Biggins at the Flatbush National Bank of Brooklyn in New York. The year, 1946. Mr Biggins developed the "Charge-It" program in which local merchants who accepted the card would deposit sales slips into the bank and the bank billed the customer.

2. innovation, i.e. scaling/diffusing and monetizing the initial solution:

1958
Bank of America, based in San Francisco, California, issues BankAmericard. With the state of California as its market, the card is an early success, and it is the first “revolving-credit” card with universal merchant acceptance, allowing cardholders the option of paying their account balance in installments with a monthly finance charge applied to the remaining balance.

1976
BankAmericard changes its name to Visa, a simple, memorable name with an international flavor that is pronounced the same way in almost every language.