Visa Makes Profrit to Accept Credit Card Payment Processing

Over the past years, the “need” for a credit card has expanded greatly. Ian Wyatt stated, "Credit card demand has exploded in recent years. Today, credit cards are responsible for over $2.5 trillion in transactions each year.” Since there is such a high demand, investors in credit card companies are hoping to develop businesses to charge for the ability to accept credit card payment processing. Then, when customers use their card, they can charge the processing fee and keep all the revenue in their company.

One major credit card company, Visa, has opted to go this route. "In exchange for providing this digital processing network, Visa charges banks a fee to process card payments on their own plastic. The more frequently consumers charge with their Visa plastic cards, the more the company will earn by way of fees.”