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"$700 million worth of charges" Visa only gets 2-5% of the charge. Lets assume on the high end at 5% we are talking about only 35 million in income. Even dou
by icefox 14y ago
"$700 million worth of charges" Visa only gets 2-5% of the charge. Lets assume on the high end at 5% we are talking about only 35 million in income. Even doubling that for the second week we get 70 million (before costs). How is that the quickest ROI ever? Sounds like a bad marketing move backed up by a loss of profits. Maybe the real winners were the olympic committee or the other credit card companies that bid up the price against Visa.
- Steko 14y agoDon't forget a lot of people are going to use Visa anyway.
- ars 14y ago> Visa only gets 2-5% of the charge. Visa doesn't get that - the issuing bank does. Visa probably gets %0.1 of the charge.
- deleted 14y ago[deleted]
- uptown 14y agoVisa's in it for the interest payments. For every consumer that doesn't pay their bill in full each month ... they've got months and/or years of interest piled on top of paying back whatever they spent.
- usefulcat 14y agoWouldn't the issuing bank get the interest?