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rogerrogerryesterday at 3:15 AM1 replyview on HN

Visa and Mastercard aren’t skimming 2.5% off the economy; the majority of the interchange fees go to banks (which Visa is not; their actual product is VisaNet which provides payment infrastructure, broadly.)

Trivially verifiable by Visa’s revenue being $35B, which is not even close to 1% of just US GDP (about $30T).


Replies

giantg2yesterday at 11:41 AM

And Visa is international, so some of that $35B is ex-US.