๐บ๐ธโก ๐ท๐บ โข๏ธ๐จ: #UPDATE
WW3 SCENARIO ๐ฅ
Scientists have simulated a nuclear war between the #USA and #Russia.
More than 5 billion people could die from explosions, radiation and starvation.
Why is the credit card called โ๐ญ๐ก๐ ๐ฆ๐จ๐ฌ๐ญ ๐ฉ๐ซ๐จ๐๐ข๐ญ๐๐๐ฅ๐ product in banksโ? How does VISA/Mastercard make money?
The diagram below shows the economics of the credit card payment flow.
1. The cardholder pays a merchant $100 to buy a product.
2. The merchant benefits from the use of the credit card with higher sales volume, and needs to compensate the issuer and the card network for providing the payment service. The acquiring bank sets a fee with the merchant, called the โ๐ฆ๐๐ซ๐๐ก๐๐ง๐ญ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐๐๐.โ
3 - 4. The acquiring bank keeps $0.25 as the ๐๐๐ช๐ฎ๐ข๐ซ๐ข๐ง๐ ๐ฆ๐๐ซ๐ค๐ฎ๐ฉ, and $1.75 is paid to the issuing bank as the ๐ข๐ง๐ญ๐๐ซ๐๐ก๐๐ง๐ ๐ ๐๐๐. The merchant discount fee should cover the interchange fee.
The interchange fee is set by the card network because it is less efficient for each issuing bank to negotiate fees with each merchant.
5. The card network sets up the ๐ง๐๐ญ๐ฐ๐จ๐ซ๐ค ๐๐ฌ๐ฌ๐๐ฌ๐ฌ๐ฆ๐๐ง๐ญ๐ฌ ๐๐ง๐ ๐๐๐๐ฌ with each bank, which pays the card network for its services every month. For example, VISA charges a 0.11% assessment, plus a $0.0195 usage fee, for every swipe.
6. The cardholder pays the issuing bank for its services.
Why should the issuing bank be compensated?
๐นThe issuer pays the merchant even if the cardholder fails to pay the issuer.
๐นThe issuer pays the merchant before the cardholder pays the issuer.
๐นThe issuer has other operating costs, including managing customer accounts, providing statements, fraud detection, risk management, clearing & settlement, etc.
Over to you: Does the card network charge the same interchange fee for big merchants as for small merchants?
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๐ธ๐ฆ ๐บ๐ธ Saudi Arabia's 50-year-old petrodollar agreement with the United States has expired, with no new agreement in place.
Saudi Arabia will now sell oil in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars.
@EliziaVolkmann@unhcr The @UNHCR was attacked so police was on the seen to de escalate the situation... the image shows an illegal camp in the middle of a business center these people were helped by the local and ngo ( food / water/money...) for over a year but now we see their true face
@moonl_ight_ La rรฉsistance au changement et comme la gravitรฉ :p constante et รฉternelle mais si nos idรฉe sont assez puissante.. universe is not enough
A guide to creating the perfect bug bounty automation with @hakluke!
This @Detectify blog discusses ways in which you can start to automate your #bugbounty hunting!
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https://t.co/jU96ynDJcB