How Visa and Mastercard make money without lending a cent
They run the rails, not the loans. That one design choice explains their margins, and their biggest risks.
StockPizza Desk · 24 Oct 2026 · 3 min readThey run the rails, not the loans. That one design choice explains their margins, and their biggest risks.
StockPizza Desk · 24 Oct 2026 · 3 min read