This podcast episode analyzes Visa, focusing on its business model, competitive advantages, and valuation. It highlights Visa's beginnings in 1958 and its growth into a dominant payment network processing over $16 trillion annually. The discussion emphasizes Visa's role as an information network that avoids card issuance and lending risks, contributing to its high operating margins and low capital intensity. The podcast also compares Visa with competitors like Mastercard and American Express, noting Visa's larger market share and Mastercard's slightly higher growth potential. Additionally, the episode touches on Visa's expansion into new flows and value-added services, underscoring its potential to continue double-digit growth.
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