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This is how Visa works

eduardo.intermeta.com.br

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Re: This is how Visa works

#81

Post by brown9-2 »

nikcub wrote: post #64
j_s wrote: post #54

Earlier quoted context omitted.

Unfortunately, it works.

not anymore: http://en.wikipedia.org/wiki/Foreign_Corrupt_Practices_Act

I'm not sure if it's a closed case quite yet. A few months ago the NY Times unearthed that Walmart's Mexico subsidiary was responsible for bribing lots of government officials, and that the home office in the US covered it up and promoted the people in charge.

http://www.nytimes.com/2012/04/22/business/at-wal-mart-in-me...

The case is still pending, AFAIK, but the law itself doesn't make the practice non-existent.

Re: This is how Visa works

#82

Post by brazzy »

rlander wrote: post #71
vannevar wrote: post #61

It might be more accurate for the headline to read "This is how Brazil works." In the US we tend to take for granted how much a functioning regulatory system, far from retarding healthy growth, is essential for promoting it.

You remark shows that you didn't even bother to read the entire article. They're not a credit card company, but a provider of employee benefits (hence they don't even touch the money). They just happen to use small rectangular plastic cards as a medium for carrying balance information.

I fail to see any connection between your comment and the one you're replying to...

Re: This is how Visa works

#83

Post by brazzy »

rotskoff wrote: post #7

Whether or not this particular story is true, there is a structural problem with debit transactions. Neither merchants nor consumers should be penalized for electronic transactions in which credit is not involved. Perhaps this means that the infrastructure of bank cards, which was predominantly spread by credit card companies, would fall on vendors and banks, but my guess is that they would benefit enough from the in…

Debit cards issued by banks without any involvement from credit card companies are prevalent in many countries, including Canada and Germany. In Germany, the fees for electronic cash transactions are 0.3% with a minimum of 8 cents.

Re: This is how Visa works

#84

Post by vshade »

ciupicri wrote: post #55
eduardordm wrote: post #23

Earlier quoted context omitted.

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)

So what you're providing is similar to meal tickets or coupons?

Yes.

Re: This is how Visa works

#85

Post by Fleuri »

Indeed what Visa did is not moral, but this is the law of the Jungle, no matter how despicable they find their opponents to be, losing is losing. They need real revolution to win the game.

Re: This is how Visa works

#87

Post by bubbleRefuge »

jpdoctor wrote: post #77
vannevar wrote: post #61

It might be more accurate for the headline to read "This is how Brazil works." In the US we tend to take for granted how much a functioning regulatory system, far from retarding healthy growth, is essential for promoting it.

> In the US we tend to take for granted how much a functioning regulatory system Really? Which people are in jail because of the mortgage fraud? And Jon Corzine's MF? Who is going to jail because of that? I find that the US has pockets of enforcement.

Great point. And, I would add, the statue of limitations is about to run out on prosecutions for the mortgage crisis which has had practically zero convictions. The savings and loans crisis of late 80's had 1000 felony convictions. We maybe on our way to being like Brazil.

Re: This is how Visa works

#88

Post by chmod775 »

jakebellacera wrote: post #80
chmod775 wrote: post #76

Earlier quoted context omitted.

On an unrelated note: You don't provide any contact info in your profile and I don't really understand Portuguese either so I'll use this comment to inform you that your website renders horribly in my browser. It looks unreadable and unprofessional. Using Firefox 14.0.1 on Linux. Also: '©1998-2012' Props, that is quite a while.

The website is pretty readable in Chrome using the Google Translate feature. I don't think it's fair to quickly assume that a regional, small business' website would be published in both your language and their language.

I didn't say anything about the language being the problem. I just was not able to find any simple contact info and I informed him his site does not render correctly using a comment. I didn't say I'm assuming anything. You haven't read my comment closely.

Re: This is how Visa works

#89

Post by vannevar »

jpdoctor wrote: post #77
vannevar wrote: post #61

It might be more accurate for the headline to read "This is how Brazil works." In the US we tend to take for granted how much a functioning regulatory system, far from retarding healthy growth, is essential for promoting it.

> In the US we tend to take for granted how much a functioning regulatory system Really? Which people are in jail because of the mortgage fraud? And Jon Corzine's MF? Who is going to jail because of that? I find that the US has pockets of enforcement.

My point wasn't that there isn't corruption in the US, or that there is a remedy for every bad act. Only that there is recourse here for the kind of graft the article describes, and that many in the US don't fully appreciate what a so-called 'free market' really looks like.

Re: This is how Visa works

#90

Post by vannevar »

rlander wrote: post #71
vannevar wrote: post #61

It might be more accurate for the headline to read "This is how Brazil works." In the US we tend to take for granted how much a functioning regulatory system, far from retarding healthy growth, is essential for promoting it.

You remark shows that you didn't even bother to read the entire article. They're not a credit card company, but a provider of employee benefits (hence they don't even touch the money). They just happen to use small rectangular plastic cards as a medium for carrying balance information.

I actually did read the entire article. Can you elaborate on why it matters what business they're in? I'm not sure you understood my original comment, or perhaps you replied to the wrong thread.
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