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>* I'm asking why their accounts aren't closed.* Because, churners, are a very small portion of the 20B in revenue Visa generated last year, of which it genera
by nemothekid 7y ago
>* I'm asking why their accounts aren't closed.*
Because, churners, are a very small portion of the 20B in revenue Visa generated last year, of which it generated a ~50% profit margin.
The system works so well already, why rock the boat by closing the accounts of a few thousand individuals? It would probably cost more to enforce any such rule than they lose in revenue.
- ilikehurdles 7y agoAnd by keeping the churners happy, they might recruit some real losers to the platform by word of mouth!
- zaroth 7y ago> $20B in revenue Visa generated last year, of which it generated a ~50% profit margin. I was sure this couldn’t be right... but it absolutely is. https://s1.q4cdn.com/050606653/files/doc_financials/2018/q4/Visa-Inc.-Q4-2018-Financial-Results.pdf https://s1.q4cdn.com/050606653/files/doc_financials/2018/q4/...
- lotsofpulp 7y agoWhy wouldn’t it be massive? Infinitely scalable business getting a % of each and every transaction at no marginal cost. It’s basically a tax, there isn’t a better business model out there. They don’t even take any risk lending money, just a % fee for owning the network, that one has to be on to do business with most people with money nowadays.