As chief executive of Visa, he transformed a struggling company into a global powerhouse and the world’s leading credit card network.
Dee Hock, a banker with a junior college degree who shaped the Visa credit card into a global financial behemoth, died on July 16 at his home in Olympia, Wash. He was 93.
His son David confirmed the death.
The credit card business was in an early, rocky stage of development in 1966 when Mr. Hock was named to run the credit card department of National Bank of Commerce in Seattle, which was licensed by Bank of America to issue its BankAmericard.
At the time, the business was beset by bad debts and fraud, and the cards themselves were primitive: They lacked the magnetic stripes that would later encode customer information; transactions that required bank authorizations took a long time; and the embossed information on them — customer name, card number, expiration date