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The actual lender for a CC is not Visa, it's the associated bank that's backing the CC. So the redistribution of wealth is occurring on the banks books not Visa
by KingMachiavelli 2y ago
The actual lender for a CC is not Visa, it's the associated bank that's backing the CC. So the redistribution of wealth is occurring on the banks books not Visa's.
- kristofferR 2y agoYou may be right, but where does all their revenue go then? They can offer their service profitably for 0.1% fees, their fees are often 2-3%.