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It's not nearly enough. Some major conglomerates (If I recall correctly then GE, GM, Samsung and others) do stuff like that in-house by creating bank-subsidiaries in their largest markets, but I'd guess that it would be reasonable at 78 billion revenue, not 78 million.

And even then that's not the whole chain. After all, a GE capital card is backed by another card company:


Piss off VISA/MC/JCB/AMEX and you're in trouble.

That's just to become an acquiring bank, to save on exchange fees.

Ultimately VISA determines who gets to participate in the VISA credit exchange network and will fine acquiring banks who participate in things like this. No one can force their way in and avoid responsibility -- period.

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