Credit/debit card systems in troubles?

I do not like give catastrophic forecast, I prefer to give advices on good companies where you could buy value stocks for your long term profitable growth.

But, in this case, I have to warn you on one of the company, or better, on a sector I have talked about on this blog: Credit Cards.

I am not erasing the past words, I strongly believe that electronics payments in long term will grow more and more and so the companies, like Visa, who provides that kind of services.
The problem is that after Subprime disaster, there could be another one, very soon, linked to Credit/debit Card insolvency problems. In US a lot of banks were giving credit, debit and other different payment systems to persons that not always are able to pay. That it will be more and more true in the following months/years.

The credit exposure linked to this items is, in US, 950 bn $ (more of the Paulson plan, that doesn't include this subject) and problems in that area are increasing exponentially. (41 bn this year, 92 bn forecast for 2009).

Now, our best picked strong buy recommendation VISA isn't exposed directly, because they're just working over the transaction and they're not making credit to the customers. The credit problems are bound to the Banks, not to Visa that is just the way of payments.
If this bubble will explode, banks will not give Credit and/or Debit Card to customers so easily as nowadays and this market will considerably slow down in next years. By the way the outlook on the company Visa is still good and it represents without doubts one of those fortress-company with few competitors that Buffett likes a lot, the problem could be the sector, I will write on this subjet in the future again.