Credit card companies--Are they listening?

Question

Having invented better way to manage credit card system, have not been able to get across to visa/mastercard.? Kindly suggest how to share the details with credit card companies.

Answer 1

Visa and Mastercard are NOT credit card companies, and that's your problem. Visa and Mastercard are more along the lines of negotiating agents - setting up the relationship between merchants and banks and setting standards for credit accounts.

Neither Visa nor Mastercard issue any credit accounts of their own. They simply tell Citibank, Chase, Joe Bloe Bank, what the minimum requirements for dealing with Merchants are for the Mastercards or Visas THEY isssue.

So you're approaching the wrong people.

Not to mention that all banks that issue cards have paid millions for IT systems to manage their accounts, so why they would even look at an unknown outsider to do so is something you'd have to prove to them.

Answer 2

Sorry I do not understand the question