Word: visa
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...been widely noted that the current dovetailing of the largest initial public offering in U.S. history and a panic-fueled recession seems counterintuitive. And many observers have correctly pointed out that Visa Inc. is largely immune from the downturn in consumer spending because it reaps its profits from fees charged on each transaction, as opposed to the total amount people spend. But several other underlying factors are driving this turbocharged...
...debit purchases. That's partly why transaction volume has remained strong even as spending declines; for the first time ever, in 2006, U.S. consumers made more debit purchases than credit charges. The funds may be pre-paid or come directly from checking accounts, but the debit cards are often Visa-branded. And because it's easier to obtain a debit card than a credit card, even people who have never qualified for a credit card before are enjoying the convenience of going cash-free...
...rates being reported by card issuers is just 5%. Despite fears that the credit-card industry is poised to become the next subprime debacle, it is still highly profitable. "All the players are making money in the credit-card business," notes Moshe Orenbuch, a managing director at Credit Suisse. (Visa recently reported $434 million in quarterly profits versus $304 million for rival MasterCard...
...June, Dr. Mohammed said, her visa will expire and she will be forced to return to Iraq. She said she has tried and failed to find a job in the United States or elsewhere in the Arab world...
...Saadi's were able to launch their legal action after being granted a medical visa to live in Australia. They moved to Brisbane, by coincidence the home town of many of the soldiers from the unit involved in the shooting...