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Saved by @iamitahuja

Visa Market Share - 52.6%
Amex Market Share - 19.6%

Visa Revenue 2022 - $29.3 B
Amex Revenue 2022 - $50.6 B

What is the secret of American Express?

 Visa/Mastercard are card networks. Their main role is information sharing. When you swipe your card at a POS Machine, how does your credit card issuer know which merchant to transfer the money to?
Your card doesn’t individually maintain a record of all merchants who can accept credit cards.

Instead it ties up with a card network e.g. Visa/MasterCard. Any merchant that has Visa as a network service provider can accept payments from a Visa card.
When the merchant’s bank (acquiring bank) is registered on the card network, the network is completed. Card networks save banks the hassle of onboarding each merchant and maintaining the infrastructure.
Let us see how a typical credit card transaction works.

There are 3 steps - Authorization, authentication and settlement.
Authorization
1) Cardholder uses their credit card to pay a merchant
2) Merchant shares card details with acquiring bank
3) Acquiring bank forwards these details to the card network
4) Network sends a request to the issuing bank to authorise the payment.
Authentication
5) Issuer validates the details, available limit, and if everything matches, it approves the transaction
6) Network sends the confirmation to the acquirer who in turn sends confirmation to the merchant
7) Customer gets a receipt to confirm the payment
Settlement
8) At the end of the day, merchant sends all transactions details to the acquiring bank
9) Acquiring bank asks network to settle the transactions
10) Network sends payment request to the issuing bank
11) Issuing bank transfer funds minus interchange fee
12) Card network takes a cut and transfers funds to acquiring bank
13) Acquiring bank transfers funds to merchant - merchant discount rate (MDR).
Merchants pay this MDR to receive credit card payments which increases sales and they don’t have to give credit to customers. Bulk of this MDR would go to the issuer since they are providing the free credit and taking the risk of customer default.
The acquiring bank for its own services and Visa will also charge a small fee for maintaining this network.

Visa is like a toll collector where it charges a fee for transferring funds, similar to how we pay toll for using roads which is used for maintaining the roads.
How is Amex different?
As we saw, the biggest cut goes to the issuer and that is Amex’s secret. American Express issues its own cards to customers. It acts as an issuing bank as well as the card network.
This is known as a closed loop system - where Amex controls each and every part of the transaction. It issues the cards, maintains the network, onboards each and every merchant individually and collects payments from cardholders.
This slows down the growth and volumes are lower but it gives Amex more control and a bigger role in the transaction.
Visa/Mastercard work on an open loop system - they don’t issue their own cards.
Any financial institution which is partnered with Visa can accept payment from Visa cards. You may have noticed that Amex cards are not accepted everywhere and almost all merchants accept Visa cards. This open loop system is one of the main reasons.
How does this affect American Express revenues? It earns from
- discount fees from merchants
- interest income
- annual card fees
- other fees (default penalties/forex/rewards)
Discount revenue from merchants and interest income is the main differentiator. Visa and Mastercard can’t earn interest income since they are just networks and not issuers.

Have a look at Visa’s revenue sources.
While Amex earns from interest income, its real cash cow is merchant revenue (60%).

How does it earn so much from merchants?

Amex’s whole main strategy revolves around getting customers to spend on its cards.
Amex earns substantial revenues from annual fees and high-spending cardholders. Amex invests these revenues in incentive programs and offers for customers. This leads to higher revenues for merchants and higher transactions.
Compared to other card networks, it charges a higher MDR but merchants are fine with it since they get access to a very premium customer base.
Amex prioritises merchants and builds many partnerships. One of its main partnerships is its co-branded card with Delta Airlines. Delta co-branded cards account for 9% of its global volumes and 21% of its loan portfolio.
Amex’s closed loop system, also has its advantages like growing slowly compared to other card networks but it ends up with more control over its merchants and bigger take rate on each transaction.
This is a great strategy that has been working out for Amex. Do you think it will work out in the future?

My previous thread on how credit card companies make money. https://t.co/4E7ulft2US

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Khatvaanga
Khatvaanga
@khatvaanga
Starting my 2nd thread on Sringeri Parampara. This will cover the Jagadgurus after Sri Vidyaranya to Sri Shivabhinava Nrisimha Bharati.

It is really very tough to match the brilliance and achievements of Vidyaranya. After whom came 15 - Chandrashekara Bharati [1386-1389].

The next Acharya was Nrisimha Bharati [1389-1408]. Harihara raya found a town for this Acharya - Narasimhapuram. Acharya helped the king by guiding him in political affairs. He also initiated the kind with mahamantras for spiritual development.

Subsequent Acharyas were
15-Puroshottama Bharati [1408 - 1448]
16-Shankara Bharati[1448 - 1455]
17-Chandrasekhara Bharati II [1455 - 1464]
18- Nrisimha Bharati II [1464 - 1479]
19-Puroshottama Bharati II [1479 - 1517]

20-Ramachandra Bharati [1517 - 1560]. Sadashiva Raya was emporer of Vijayanagara during this time.
21-Nrisimha Bharati III [1560 - 1573]
22-Nrisimha Bharati IV [1573 - 1576]
23-Nrisimha Bharati V [1576 - 1600]

24-Abhinava Nrisimha Bharati [1600-1623]. When he visited Malahanikareswara temple for first time he noticed there was no Vinayaka there so he took piece of turmeric and drew outline of Ganesha on a pillar and offered puja.
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#Thread
Lessor known facts of Sudarshan Chakra or Neela Chakra of Puri Jagannath Temple.

The metal wheel at the top of Bhagwan Jagannath temple is also known as Neela Chakra (Blue Wheel). The wheel is made of eight metals comprising of.. 1/n


iron, copper, zinc, mercury, lead, brass, silver & gold. It's circumferance is about 36 feet & it is so designed that there is a wheel within the wheel. The circumferance of the inner wheel is about 26 feet. Eight hubs join together the inner and the outer wheels. 2/n


There are decorative designs on the outer wheel. The thickness of the Neela Chakra is 2 inches.The wheel is said to be Bhagwan Vishnu's most powerful weapon, Sudarshana Chakra. Inside Jagannath temple, Lord Vishnu's wheel is also worshipped in the name of 'Sudarshana'. 3/n


But inside the temple Sudarshana is not in the shape of a wheel, but in the shape of a small wood pillar placed to the left of image of bhagwan Jagannath. It is believed that the same Sudarshana is also at the top of the temple and is known by the name of Neela Chakra. 4/n


There is a specific category of people among the temple sevaks to serve the Neela Chakra and they are known as Garuda Sevaka or Chunara Nejoga. The pilgrims hold these sevaks in high esteem because everyday at Sunset. 5/n
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सा विद्या या विमुक्तये...
@raghav_aanya
कुंडली में 12 भाव होते हैं। कैसे ज्योतिष द्वारा रोग के आंकलन करते समय कुंडली के विभिन्न भावों से गणना करते हैं आज इस पर चर्चा करेंगे।
कुण्डली को कालपुरुष की संज्ञा देकर इसमें शरीर के अंगों को स्थापित कर उनसे रोग, रोगेश, रोग को बढ़ाने घटाने वाले ग्रह


रोग की स्थिति में उत्प्रेरक का कार्य करने वाले ग्रह, आयुर्वेदिक/ऐलोपैथी/होमियोपैथी में से कौन कारगर होगा इसका आँकलन, रक्त विकार, रक्त और आपरेशन की स्थिति, कौन सा आंतरिक या बाहरी अंग प्रभावित होगा इत्यादि गणना करने में कुंडली का प्रयोग किया जाता है।


मेडिकल ज्योतिष में आज के समय में Dr. K. S. Charak का नाम निर्विवाद रूप से प्रथम स्थान रखता है। उनकी लिखी कई पुस्तकें आज इस क्षेत्र में नए ज्योतिषों का मार्गदर्शन कर रही हैं।
प्रथम भाव -
इस भाव से हम व्यक्ति की रोगप्रतिरोधक क्षमता, सिर, मष्तिस्क का विचार करते हैं।


द्वितीय भाव-
दाहिना नेत्र, मुख, वाणी, नाक, गर्दन व गले के ऊपरी भाग का विचार होता है।
तृतीय भाव-
अस्थि, गला,कान, हाथ, कंधे व छाती के आंतरिक अंगों का शुरुआती भाग इत्यादि।

चतुर्थ भाव- छाती व इसके आंतरिक अंग, जातक की मानसिक स्थिति/प्रकृति, स्तन आदि की गणना की जाती है


पंचम भाव-
जातक की बुद्धि व उसकी तीव्रता,पीठ, पसलियां,पेट, हृदय की स्थिति आंकलन में प्रयोग होता है।

षष्ठ भाव-
रोग भाव कहा जाता है। कुंडली मे इसके तत्कालिक भाव स्वामी, कालपुरुष कुंडली के स्वामी, दृष्टि संबंध, रोगेश की स्थिति, रोगेश के नक्षत्र औऱ रोगेश व भाव की डिग्री इत्यादि।
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Anshumani Ruddra
Anshumani Ruddra
@baboonzero
Mahabharat - the great war - 18 days of heroism, deceit, blood and intrigue - now as a mega Twitter thread.

I'll add the events from a few days of the war each day.

Caveats: lots of editorialization, creative liberties and interpretations.

There will also be a lot of asides - especially around war strategy and tactics, the characters and their motivations and non-canon storylines.

Over the years, I've read multiple versions, phenomenal translations and modern retellings. So be prepared for a potpourri.

There are different ways of looking at this war. Was it a family feud? Sure - but whose family? Shantanu's or Satyavati's? Was Vyas essentially telling us his family history? And then Kunti added a twist to this tale. Here's a helpful chart:


Satyavati's two sons from Shantanu both died without children. Vyas - her first son - fathered Dhritarashtra and Pandu (and Vidur).

Pandu never fathered any children. Kunti and Madari gave birth to six demi-gods (Karna and the five Pandavs).

So Satyavati Vs Kunti and Madari.

Or was this a fight between two massive neighbouring kingdoms - the Kurus and the Panchals? While many smaller kingdoms joined the battle, most of the Pandav army (more than half of their 7 divisions) came from the Panchals. King Drupad and his son Shikhandi led two divisions.
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Choosing the Right JavaScript Framework

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1. Project 1742 (EcoHealth/DTRA)
Risks of bat-borne zoonotic diseases in Western Asia

Duration: 24/10/2018-23 /10/2019

Funding: $71,500
@dgaytandzhieva
https://t.co/680CdD8uug


2. Bat Virus Database
Access to the database is limited only to those scientists participating in our ‘Bats and Coronaviruses’ project
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https://t.co/mPn7b9HM48


3. EcoHealth Alliance & DTRA Asking for Trouble
One Health research project focused on characterizing bat diversity, bat coronavirus diversity and the risk of bat-borne zoonotic disease emergence in the region.
https://t.co/u6aUeWBGEN


4. Phelps, Olival, Epstein, Karesh - EcoHealth/DTRA


5, Methods and Expected Outcomes
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