| Bear in mind I'm guessing here. When you use your credit card or debit card in a store, you swipe it in a Point Of Sale terminal. That terminal connects, via network, with payment processing software managed by Visa (and other card suppliers) to authorize the payment and move the money from your balance to store's balance. If you were to create your own credit card, how would that processed? Visa is not going to process your credit card. In order to have your credit card processed you would have to convince stores to upgrade POS terminals to also talk to your card authorization network. That's just not gonna happen which is why Visa is not going to loose their lock on credit cards. The only viable solution would be legislation that forces Visa to process other people's cards, maybe via some standard protocol, at a reasonable price (and that price would have to be much, much lower that Visa's fees to make that workable, because you want to make money on processing fees too). |