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Visa

Acquired

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The Evolution of Visa: IPOs and Interchange Fees

This chapter explores Visa's transformation from a non-stock organization to a publicly traded company during its 2008 IPO amid legal challenges. It details the structure of Visa's business model, focusing on the complex nature of interchange fees and their distribution among stakeholders. The narrative examines the dual impact of these fees on merchants and consumers, revealing the balance between rewards systems and the financial realities within the credit card ecosystem.

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