[altern8tif]

What is Wavecrest's business model as a card issuer then? [Genuine question]

[jstanley]

My guess is they take a transaction fee in the same way Visa do.

[theptip]

They get a cut of the ~2% processing fee that Visa charges the vendor, and they charge some additional fees to the payor as well.

The details are very dependent on commercial negotiations (i.e. how much volume the payor is bringing, etc).