haha no no, dont take my advice, do your own research, im just saying southernelite quoted me on something.
India, China, south America
I could see it being big
China actually has their own credit card company i think unionpay or something? forgot the name but india, yes I read there are 20M retailers and something like 70,000 or 700,000 credit card points of sale, there will be lots of growth all over the world and the credit risk sits with the issuing banks.
The real driver will be inflation in my book, visa operates in every business you see around you. My small chain did near $16M in sales on credit cards, now that's not anywhere near my profit, but my merchant fees on that was near $250,000 total in 2012. That means credit card companies made $20,000/month off my 4 gas stations, do you know how many other businesses are out there? Every uptick in price is more money for them. Grocery prices,gas prices, a shift to amazon.com and all the other online retailers is very beneficial to these companies. Even those prepaid cards poor people use like rush card, those are visa cards.
I thinkI read its something like 36 Million locations on earth accept visa as of this year, thats truly a drop in the bucket.
The potential is there for a true monster, but with a .73% yield, I don't have the timeframe to await its growth.
This post was edited on 6/24 at 3:33 pm