TL,DR: They steal from businesses that take card payments with giant commissions.
You're welcome!
sanjeevverma1 12 hours ago|
this article doesn’t do a good job of simplifying. the vast majority of Visa’s revenue comes from one thing called the ISO 8601 / ISO 20022 message, which is the name for a Visa’s authorization. the core service is transmitting this message between an issuer (cardholder bank) and an acquirer (merchant bank). all other revenue streams are basically a microservice on top of this core message transmission service.
LoganDark 11 hours ago|
ISO 8601 is just a timestamp format. Surely Visa must be using timestamps internally, but that couldn't possibly be their service.