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A comment on I am (not) a failure: Lessons learned from six failed startup attempts. Parent comment
The interchange rate on credit cards is high, but "diabolical" is a stretch.
Also, fraud is a very small line item in a credit card P&L. Generally 25bps to 50bps vs credit charge offs which are closer to 3% to 6%.
Source: Ran risk for Bank of America and a credit card fintech.
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The interchange rate on credit cards is high, but "diabolical" is a stretch.
Also, fraud is a very small line item in a credit card P&L. Generally 25bps to 50bps vs credit charge offs which are closer to 3% to 6%.
Source: Ran risk for Bank of America and a credit card fintech.