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anona

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They are dealing with people's money, and should be held to the same standard as every other business in that space.

They also don't deserve any special 'slack' just because they use other companies services. You wouldn't accept that excuse from Bank of America.

> Also, talent. This might be inflammatory, but I venture that the bulk of Canada's A-talent is already in the USA. Given the ease of the TN visa, I think it's not a stretch to say that if you're offering $70K for software engineers in Toronto, you are not hiring any of Canada's top talent, because they're all in the US making $150K+.

A computer programmer/software engineer/software developer is not technically eligible for TN status. A 'Computer Systems Analyst' is eligible for TN status, but as an informal rule if your jobs involves more than 10%-20% coding you do not qualify for Computer Systems Analyst. While I'm sure many developers are working as a Computer System Analyst, they are at risk of being denied entry every time the enter the country if the USCIS official decides they do not qualify. So there are still significant immigration barriers that act to keep a good portion of Canadian talent in Canada.

The 1-4% you mention is the interchange rate. This is collected by the issuing bank, and not Visa. Visa typically receives a separate flat fee per transaction. Although often payment processors will charge the merchant a flat percentage fee which includes the interchange fees, acquiring bank fees, association fees, and the payment processors fees.

Visa Europe (a separate company from Visa USA) would likely have to assume liability for chargebacks in the event that the acquiring bank went out of business without transferring it's Visa business to another bank. I'm not sure if such a situation has ever happened though. In general the liability goes: Merchant -> Payment Processor -> Acquiring Bank -> Visa.