Credit Suisse Sold Building In Geneva, Visa Is Building Success At The Expense Of Small Retailers

In this article:
Credit Suisse is working on sale of assets
Cashless payments makes problem small retail companies
Talk about finances at the Christmas table

There is no end to the turmoil in the financial market this year. Even the Swiss bank Credit Suisse faced difficulties. Visa cards are becoming more and more popular, but they also have negative sides, especially for small businesses.

Credit Suisse is working on sale of assets

A Swiss bank that comes from itself after a series of scandals. Credit Suisse Group AG doing less investment banking, as the lender struggles to recover from billions in losses over the past two years, recent client defections and asset outflows with a strategy revamp.

Credit Suisse is working on a possible sale of assets and business to restore profitability.

The bank has now sold a building in the heart of Geneva for $217 million.

Credit Suisse sells building in Geneva for $217 million https://t.co/ibK6eOQaGX pic.twitter.com/8noDIs3AxM
— Reuters Business (@ReutersBiz) December 22, 2022

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Cashless payments makes problem small retail companies

Cashless payments are becoming more and more popular and more often used due to the fact that they are fast and convenient. All over the world, developed countries are increasingly using cards to spend money.

Visa is the most popular company in this sector. It's so ubiquitous, so secure, and so easy to use that people are starting to take it for granted.

According to a 2020 report by HSN Consultants, people in the US spent $6.7 trillion using credit and debit cards, an increase of 88% compared to 2009. Of these transactions, more than 60% were made with Visa cards.

This has made Visa one of the most valuable companies in the world. However, some retailers say Visa's success came at the expense of merchants.

General processing fees paid by US merchants for accepting all card payments increased in 2019. to USD 116.4 billion. Such high fees cause numerous difficulties for small retail companies, which as a result have difficulty surviving on the market.

As debit and credit cards become more essential in our daily lives, Visa has quickly grown to become one of the most valuable companies in America. So how exactly does Visa make money? Watch the full video here: https://t.co/J1Rga4AUxK pic.twitter.com/q3sAFJaIOF
— CNBC (@CNBC) December 22, 2022

Talk about finances at the Christmas table

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Christmas is the time when the family gathers around the table. In addition to a nice, family atmosphere, sharing what has been achieved during the year and remembering what was. The second topic that is discussed by most families is politics, and finances are most often ignored. In many families, money is a taboo subject, and these budget issues can also be a source of stress and misunderstanding.

Experts advise to raise this topic. As parents or other relatives age, their adult children often become more involved in their financial lives. Children can find out if something is missing from their parents and advise on financial matters or help. Parents, grandparents can advise the youngest on how best to manage finances or what to avoid.

Such topics can be difficult, but it is worth discussing financial matters in a family circle for many reasons, and the main one is to secure yourself for the future.

Carve out some time this holiday season to discuss your family's financial plans. You'll thank yourself later.

Here, @AmyCArnott1 walks through 6 money topics worth bringing up with family members, including parents, kids, and partners. https://t.co/Xy0xQEoQ91
— Morningstar, Inc. (@MorningstarInc) December 22, 2022