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Networks like visa and Mastercard don’t seem evil. If you’ve ever had to dispute a charge and got your money back easily or relied on the fact that even if thei
by tflinton 23d ago
Networks like visa and Mastercard don’t seem evil. If you’ve ever had to dispute a charge and got your money back easily or relied on the fact that even if their computers are down they’ll still take the risk and allow you to take money out of your account you’d find the fees they charge pretty minimal. Now the issuer bank… that’s where most of the fee and why most banks now have reward cards because the issuing bank can ask for whatever additional fees on top of what visa/mastercard does.
- citizenpaul 22d agoHow does every form of evil have some sort of apologist on the internet. I was near certian that even before AI there were very active automated or low paid workers astroturfing for companies anytime malfeasance is brought to light. In the age of LLM's I now know for a fact that its happening. I guess I found one. OPERATING MARGIN (FY 2024 / 2025) Payment Networks: Visa Inc. (V) 67.2% Mastercard (MA) 57.8% Major Card Issuer Banks: JPMorgan Chase 33.5% Capital One (COF) 24.1% Bank of America (BAC)26.8%