Business Breakdowns

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Visa
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Visa

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Ryan Reeves
Dec 7, 2019
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Visa
businessbreakdowns.substack.com

Visa is a tollbooth on commerce. But rather than connecting two cities, it connects two banks. And rather than traveling cars, Visa transports data.

Visa is not a credit card company. It doesn’t issue credit cards, nor does it make any money from late fees or interest.

So how does it make money?

Before getting into that, let’s actually understand all the…

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