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Krome, I have the same exact question about the "US Presence" term . I dont think a shell corp is what Visa is looking for when they approve someone. It costs Visa 10x as much to prosecute someone outside the U.S. and I think this territory issue is an attempt to end that problem. It will be very interesting to see how it pans out the first time Visa calls Ibill to investigate fraud and all they find is a shell corp owned by a guy in France.
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