Now it is a time to let the world know about the real face of VISA
I am a former employee of a VISA member bank and I left because of the multiple attempts from this " Card association " to regulate markets and manipulate member banks.
In a strong competition we received a huge number of request for card issuing programs on e-commerce clients.
These clients had a free trial or rebate business model to get off the ground and to increase their sales volume. After our bank issued cards to these clients VISA came back to us and told us about their view of the business case.
" We do not tell you that we not like the kind of transactions your client use the cards for, but we will tell you know if you not terminate these transactions we have to take actions from our side "
Is this what we understand for honor VISA agreement ?
VISA try to regulate low value transactions for merchants and try to regulate the online purchase behavior of cardholders, either by showing muscles to the partner banks or by extra ordinary fees for online transactions ( USD 0.50 to USD 1.00 per transaction ) on low value pricing.
But they only pressure SME ( Small Medium Enterprises ), accounts like itunes, amazon, Facebook PayPal ...... they are welcome to transact on a low value basis, because VISA is afraid to loose potential, so why VISA is punishing small businesses ?
If I am a VISA cardholder and I pay me credit card bill regular, why VISA would not allow me to make my own decision where I spend my money. It is not the money of VISA it is my money as a cardholder. If I want to use a free trial offer or use a rebate card of a merchant, it is my decision.
Why VISA try to regulate markets with pressure on member banks, why VISA try to regulate business models of e-commerce merchants. People at VISA try to play god ( specially this nice fellow Mr. Wilson at VISA UK ).
Whole Industries get ripped off by VISA and their syndicate practices, covered under the name " compliance " and " risk management "
To let you know, Mastercard, American Express and other card associations do not have a Mr. Wilson and do not have syndicate practices like this ......