It would have to be true that the price VISA is able to charge is in excess of the total customer benefit. But then no one would buy VISA's services because it is not worth the money they would have to pay.
If this were a drawing, total value would be a summation of cost to provide the aervice (C), price to the customer (P) and benefit to the customer (B). Value captured by VISA is P-C and value captured by customer is B-P.
Your response tells me you're somehow missing the point. Sort of reminds me of a funny joke I heard a long time ago. I don't know original source, but I found this joke, in many similar iterations, across many forums online:
--------------------
A farmer asks an engineer, a physicist and a mathematician to build the most efficient fence around his flock of sheep.
The engineer builds a square fence around the sheep and says "That's the best I can do".
The physicist builds a circular fence, then says "That's the best I can do".
The mathematician smirks and takes a meter-long length of fence, wraps it around himself and declares triumphantly "I define myself to be outside!"
If this were a drawing, total value would be a summation of cost to provide the aervice (C), price to the customer (P) and benefit to the customer (B). Value captured by VISA is P-C and value captured by customer is B-P.