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How does Electronic Payment network service providers like VISA, MASTER CARD make money?

What is the link between Electronic Payment network service providers like VISA, MASTER CARD and banks. Do they make money on each transaction we make through their products or it is on annual licence basis.

Public Comments

1. Credit Card issuers like VISA and MASTERCARD and the issuing bank gets a percentage of the transaction. Say you bought some clothes for 100 US dollars, the bank that issued the credit card will pay the merchant/store 96 dollars, keeping the 4 dollars. This is an example only - the percentage varies. Usually stores generating a lot of transactions is assign a lower percentage.
2. Yes... Some history is attached via the source...