Because, churners, are a very small portion of the 20B in revenue Visa generated last year, of which it generated a ~50% profit margin.
The system works so well already, why rock the boat by closing the accounts of a few thousand individuals? It would probably cost more to enforce any such rule than they lose in revenue.
Why wouldn’t it be massive? Infinitely scalable business getting a % of each and every transaction at no marginal cost. It’s basically a tax, there isn’t a better business model out there.
They don’t even take any risk lending money, just a % fee for owning the network, that one has to be on to do business with most people with money nowadays.
Because, churners, are a very small portion of the 20B in revenue Visa generated last year, of which it generated a ~50% profit margin.
The system works so well already, why rock the boat by closing the accounts of a few thousand individuals? It would probably cost more to enforce any such rule than they lose in revenue.