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This is how Visa works

eduardo.intermeta.com.br

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Re: This is how Visa works

#21

Post by IsaacL »

eduardordm wrote: post #13
larrys wrote: post #6

"I built a small credit card company, we have around 500k users and 2k merchants." URL of this company? Links to some of the merchants that you've lost or currently have? Clear scan of the document in the photo?

The company is called Redeconv (www.redeconv.com.br). I didn't want to attract attention to the company itself, we are just regional. I can provide the xerox of contracts we had and the forms I'll post that to the blog post later today.

Regardless of this story, I find it very cool that in Brazil you can just setup your own credit card company. Are there many regional CC networks like yours in Brazil? How did you get the idea?

Re: This is how Visa works

#22

Post by K2h »

I don't speak Portuguese, but is this the contact info for visa in the region? [1]. Maybe a few letters to some choice managers there could get Visa to act a little more responsible. if not, I'd push as high as you can get in the organization to petition. There is a corporate visa page [2], there may be something useful in there. [edit] CEO is Joseph Sanders. There may be a PO box listed for him [3] at

Joseph W. Saunders Chief Executive Officer Visa Inc. P.O. Box 8999 San Francisco, CA 94128-8999

phone: 650-432-3200 [4]

I had an employee that worked for me dig up the CEO contact info for a big insurance company and make a stink about a $500 charge and it was taken care of the next day. hopefully something like that will work for you.

[1] http://www.visa.com.br/Conteudo.asp?pg=7

[2] http://corporate.visa.com/index.shtml

[3] http://www.sec.gov/Archives/edgar/data/1403161/0000000000120...

[4] http://www.labormarketinfo.edd.ca.gov/aspdotnet/databrowsing...

[5] google search: site:.gov joseph saunders CA

[edit]

1) Portuguese spoken in the region: sorry guys - my lack of world travel showing.

2) CEO is Joseph Sanders

3) might have found phone number

Re: This is how Visa works

#23

Post by eduardordm »

IsaacL wrote: post #21
eduardordm wrote: post #13

Earlier quoted context omitted.

The company is called Redeconv (www.redeconv.com.br). I didn't want to attract attention to the company itself, we are just regional. I can provide the xerox of contracts we had and the forms I'll post that to the blog post later today.

Regardless of this story, I find it very cool that in Brazil you can just setup your own credit card company. Are there many regional CC networks like yours in Brazil? How did you get the idea?

Credit card company is generic term. In our case we are a PAT (we provide employees benefits). We never "touch" the money, your employer is, indirectly, who pays the merchants. We cannot provide loans (credit). For that, we need a lot of cash (FDIC insurances, etc)

Re: This is how Visa works

#24

Post by kitcar »

K2h wrote: post #22

I don't speak Portuguese, but is this the contact info for visa in the region? [1]. Maybe a few letters to some choice managers there could get Visa to act a little more responsible. if not, I'd push as high as you can get in the organization to petition. There is a corporate visa page [2], there may be something useful in there. [edit] CEO is Joseph Sanders. There may be a PO box listed for him [3] at Joseph W. Saun…

Small correction, but Brazilians generally speak Portuguese, not Spanish (for that reason, as well as a few important others such as its size, Brazil is commonly considered a distinct market from the rest of Latin America)

Re: This is how Visa works

#25

Post by davidbrent »

K2h wrote: post #22

I don't speak Portuguese, but is this the contact info for visa in the region? [1]. Maybe a few letters to some choice managers there could get Visa to act a little more responsible. if not, I'd push as high as you can get in the organization to petition. There is a corporate visa page [2], there may be something useful in there. [edit] CEO is Joseph Sanders. There may be a PO box listed for him [3] at Joseph W. Saun…

"I don't speak spanish"

Really? I think you mean Portuguese.

Re: This is how Visa works

#26

Post by DanBC »

hannibalhorn wrote: post #17

Plenty of multinationals play "dirty" in Latin America, I've heard similar stories about several other companies here from people that work for smaller, local competitors. That said, I highly doubt that it's a policy of the home office, it's really just the end result of hiring people who get results in the region, in a situation where oversight is difficult to impossible.

> in a situation where oversight is difficult to impossible.

That excuse no longer washes.

Re: This is how Visa works

#27

Post by Toshio »

eyevariety wrote: post #11
larrys wrote: post #6

"I built a small credit card company, we have around 500k users and 2k merchants." URL of this company? Links to some of the merchants that you've lost or currently have? Clear scan of the document in the photo?

Nice! Protect the fragile Visa- don't let this upstart hurt them!

The fact that you have been downvoted clearly indicates that the majority of people's browsers still don't implement the brand-new tag in version 7.1 of the HTML specification.

Re: This is how Visa works

#28

Post by Terretta »

andr wrote: post #16

While this is preposterous behavior, I am very surprised it's even possible to operate your own payment card network. Visa/MasterCard is the one monopoly I thought was practically unbreakable. Even PayPal, who is supposed to be a Visa competitor, issues Visa cards.

If I'm understanding, this is a stored value card or something like a debit card the employee can get paid on then spend from.

Re: This is how Visa works

#29

Post by eugenes »

hannibalhorn wrote: post #17

Plenty of multinationals play "dirty" in Latin America, I've heard similar stories about several other companies here from people that work for smaller, local competitors. That said, I highly doubt that it's a policy of the home office, it's really just the end result of hiring people who get results in the region, in a situation where oversight is difficult to impossible.

I believe you've misspelled "plausible deniability" over two whole sentences.

Re: This is how Visa works

#30

Post by EvilTerran »

Toshio wrote: post #27
eyevariety wrote: post #11

Earlier quoted context omitted.

Nice! Protect the fragile Visa- don't let this upstart hurt them!

The fact that you have been downvoted clearly indicates that the majority of people's browsers still don't implement the brand-new tag in version 7.1 of the HTML specification.

... or, perhaps, that vacuous snark does nothing to improve the quality of the conversation, regardless of whether it's intended to be trolling or pandering sarcasm.
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