VisaNet is an engineering marvel. I think the interchange fees are largely justified once you factor in the economics that it has enabled. Consumers and merchants both win when the market can be so much bigger and more efficient. The fact that Visa extracts monstrous margin from each transaction seems acceptable given all the other risk in their business.
VisaNet is an engineering marvel. I think the interchange fees are largely justified once you factor in the economics that it has enabled. Consumers and merchants both win when the market can be so much bigger and more efficient. The fact that Visa extracts monstrous margin from each transaction seems acceptable given all the other risk in their business.