Why Visa is the most popular card in the U.S.

$6.7 trillion. That is how much Americans spent using their debit or credit cards in 2019. More than 60% of those purchases were made using cards from Visa, a company that has long dominated the payment card industry. As payment cards become more essential in people's daily lives, Visa has quickly become one of the most valuable companies in America. So how exactly does Visa make money and why does it dominate the payment card industry?

Clarification: The 10% mentioned in the video at 11:45 refers to 10% of the average 2.2% of the swipe fee charged to merchants.