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Good Morning

Here is an article on Visa I found interesting:
http://biz.yahoo.com/ibd/071119/newissue.html?.v=1

This is exciting:

"The new combined company took in $3.9 billion in revenue in the first nine months of the year, and $771 million in net income. The firm provided historical data only for the Visa U.S.A. segment, which showed 18% revenue growth over the prior year and a 79% gain in net income.

That is impressive!

One question: "Visa is the largest credit-card brand in the world. Last year, it hosted 44 billion transactions worth $3.2 billion, nearly twice as many as its nearest rival, MasterCard.

I am assuming the 3.2 billion represents their transaction fee?

Gary
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