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/1 Why is the credit card called “𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐩𝐫𝐨𝐟𝐢𝐭𝐚𝐛𝐥𝐞 product in banks”? 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.
Everyone should understand how to read Financial Statements.
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