Michael McCloskey - His journey to become a value investor, Visa and the whole credit cards industry
The Education of a Value Investor
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Visa Mastercard and Visa MX - Should We Create Another Payment Network?
Any government can keep these and mastercard out of their jurisdiction if they choose to with a stroke of a pen. These are global networks and if you can be cut off by them do I really want to put my citizens in that position? So, long term thinkers like the Chinese are probably going to say well should we not create another system. It's difficult because of the ubiquity of US payments and the strength of the US dollar as a reserve currency but not impossible so that is a long term risk.
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