mastercard doesnt have the debit card exposure of visa.....that's why visa was hammered. I honestly think anything under $190 is a steal, visa initiated a share buyback the other day while the shares were at $190 and if Visa didn't mind buying its own stock at $190 you should LOVE to buy it at $177. I personally think itll be back to $185 in the next day or 2, it's too solid a company with too strong a balance sheet and phenomenal growth prospects to fall to 10% off where it was when it mashed earnings again last week. It was $194 this morning!!! Nothing changed besides this one ruling which probably will be appealed and im sure tied up in all kinds of appeals for a long time.
Honestly if retailers don't like Visa's fees, they are free to accept cash only. I know 90% of my sales are credit cards and I could imagine switching to cash only would bankrupt me, so i just suck it up as a cost of doing business, visa is not the bad guy, the retailers crying like little bitches have the option of not accepting credit cards, it's such a joke how we've become such a nation of whiners and we sue when we're unhappy.
This post was edited on 7/31 at 7:23 pm