2min chapter

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#42 One From Many: VISA and the Rise of Chaordic Organization

Founders

CHAPTER

The Environment From Which Visa Emerged

Before credit cards, they'd have to take imprints of them. That paper copy would be sent off to the bank or the processing company. There wasn't one central clearinghouse place. So as a result, when he's hired to fix his problem, and I'm going to get into what the problem is in a minute, he finds hundreds of thousands of dollars of. Imprints that were never processed at all. And so, this is the environment. Most bankers look down their noses at the card business,. placing it lower on the scale of respectability than auto dealer financing. Only then gaining scainte acceptance by banks.

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