Visa

9358.82 - 9382.288 David Rosenthal

But then there also are the fourth and the fifth parties, which are the banks for each of the consumer, the issuing bank, and the merchant, the merchant bank. So this sort of envelope of value concept makes sense because those three parties in the middle, Visa and the two banks, They need to split up the value, and depending on who is doing what work, it should be split different ways.