Faisal KhanAnswered Feb 5, 2013Its not VISA or Mastercard's business to go directly to the end-user or client.
Think of the large card companies as wholesalers.
They only clients so to speak VISA/Mastercard work with, are the banks themselves. Their role in the heirachy of things is to be the wholesaler. The acquiring banks themselves can have a role in the electronic processing of cards or they assisgn ISO/MSPs like Braintree (company) et. al, to come and fill the void as well as innovate (think companies like Stripe (company)).
Card companies would need a very large workforce if they started taking care of front-end processing in each and every country they operate in, or where for-profit processing companies operate.
Think of the large card companies as wholesalers.
They only clients so to speak VISA/Mastercard work with, are the banks themselves. Their role in the heirachy of things is to be the wholesaler. The acquiring banks themselves can have a role in the electronic processing of cards or they assisgn ISO/MSPs like Braintree (company) et. al, to come and fill the void as well as innovate (think companies like Stripe (company)).
Card companies would need a very large workforce if they started taking care of front-end processing in each and every country they operate in, or where for-profit processing companies operate.