> Lol, visa had network effect. Visa, the organization, is little more than a small clearing house. Credit card issuers (banks) and credit card processors (al

> Lol, visa had network effect. Visa, the organization, is little more than a small clearing house. Credit card issuers (banks) and credit card processors (also banks) define the network in so far as determining what organizations can be "on the visa rails" (also almost exclusively banks). > The visa trick if any, was hiding the credit card fee and pushing it to merchants. Merchants pay their discount rate and customers pay their interest rate. "The visa trick", as it were, was getting customer confidence in credit cards being accepted at enough merchants to warrant use. There was never a "hiding the credit card fee." Both parties pay and always have. There was only patience by the banks and heavy marketing to customers in order to create demand that would force merchants to have to accept credit cards.