News for hackers. Stuff that matters.
Re:Nobel Prize-winning economist joins blockchain startup to... by emaercklein on Thursday August 02, 2018 @03:17PM (#17674608)
Visa is a payment network, not an issuer (like Discover or AMEX). They don't issue credit cards to consumers, they just act as the underlying technology in the five-party model connecting merchants to consumers and their banks and the merchant's bank. Chargebacks are disputed with the issuing bank, not Visa...
Re:Nobel Prize-winning economist joins blockchain startup to... by eldavido on Friday August 03, 2018 @10:03PM (#17684986)
I know this. But Visa sets the rules of the game. They make the rules, everyone else participates.

Visa isn't really a technology company. That's how they started, but these days, I think of them as more of a "facilitation platform" responsible for getting everyone into one legally sound network and defining common standards for things, everything from data interchange to how long customers have to request chargebacks, how long banks have to respond, what are valid reasons for revoking an authorization, etc.