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Does it mean that even if it goes through the VISA network. Actual settlements still have to hop through layers of peering banks? Do you see an advantage for b
by sida 12y ago
Does it mean that even if it goes through the VISA network. Actual settlements still have to hop through layers of peering banks?
Do you see an advantage for bitcoin then by removing the need of peering banks?
- gendal 12y agoI don't know enough about Visa's design to comment authoritatively - but my working assumption is payments from issuing to acquiring banks in-country are done net and through visa - i.e. one net payment per issuer into visa and one net payment out to acquirer. e.g. see the last page of this doc: https://usa.visa.com/download/merchants/visa-core-principles.pdf https://usa.visa.com/download/merchants/visa-core-principles... What isn't obvious to me is what happens in international scenarios - you ask a great question. [EDIT] - Actually - here's your answer.... See section 2.3.3 of this doc: http://www.bis.org/publ/cpss53p16.pdf http://www.bis.org/publ/cpss53p16.pdf