Visa Should Thank Us
 

Thanks to the huge growth of this industry they just reached $1 Trillion in processing

Plus the huge amount of people without jobs that are forced to charge stuff

Oh and they also made a killing on the $750 LOL

http://www.foxnews.com/story/0,2933,88462,00.html

Visa Annual Processing Volume Reaches $1 Trillion

Tuesday, June 03, 2003



NEW YORK ? Visa USA (search) said its has reached the milestone of processing $1 trillion worth of transactions during a 12 month period.

The spending signifies Visa processed an average of $32,000 in payments every second of every day over a 12-month period ending March 31, the Foster City, Calif.-based company said Tuesday. Visa reached $1 billion in volume in 1971.

By comparison, $1 trillion is greater than the combined amount processed by all major U.S. competitors combined, including MasterCard (search), American Express (AXP), Discover (MWD), Visa USA said in a news release.

Visa's milestone represents the emergence of the electronic payments generation, where debit cards (search) and automatic bill payments (search) via credit card have displaced cash and checks, according to Visa USA, the U.S. division of Visa International. More than $38 out of every $100 is spent with payment forms other than cash or checks ? and 12 of those dollars are spent using a Visa card, the company said.

"One trillion dollars is almost incomprehensible, but it represents clear evidence of the silent revolution we're witnessing in the way consumers pay for goods and services," President and CEO Carl Pascarella said.

wow

isent it amazing that 80% of your CC transaction are Visa and they make you pay for it?

whats next tax on porn sites?