Mastercard CEO suggests that Visa will have a nice tailwind in 2014.
MasterCard CEO indicates in Q4 conf. call that their loss of the Chase portfolio is of such significance that ALL of the MasterCard wins reported for 2013-2014 won't fully offset the loss of business from the Chase conversion.
Since the entire Chase account is migrating to Visa, the implication is that V might finally report revenue growth above that of MA in 2014. Accordingly, and since V earns higher margins from its business, there could be positive earnings surprises, for the rest of 2014, at Visa.
now, V spent some money to make considerable investment (equip. personnel) to take/appease chase (charlie scharf's former company), but it was (apparently) a smart long term move.
also, sounds like the fed appeals judges are going to rule that 21 cents per debit swipe fee is perfectly reasonable, and need not be lowered. the judge (who was speaking for all 3 fed appeals judges) also told the merchants' attorney that the FED has the right to RAISE that 21 cent fee if they see fit.