Visa and Mastercard ..... again

[blackrock13]

the latest news;

I'm not much of a debit card user but watch your purchases, if you are. Visa and M/C have entered the debit card market and have done it through the back door. They've sent 'upgrades to their charge card merchantclients to upgrade their card readers and in the upgrades were also programs to allow the use of their new Debit cards and these cards are given priority in the menus.

Many merchants have complained to various controlling bodies and Visa and MC have relented and have said they could opt out but at a cost of a$10,000 service charge.

Visa and MC are trying to muscle into a very lucrative business. The merchant are afraid now that their fees are going to go silly, up and down until Visa And MC finally wear down Interac.

Visa and MC may have already sent you or will send you their own debit cards and thus trying tosqueeze out Interac. They're not new credit cards, they are dedicated debit cards.

They're just trying to pull a version of the shell game and for those of you who have a bunch of cards, watch it.

 

[Mencken]

the latest news;

I'm not much of a debit card user but watch your purchases, if you are. Visa and M/C have entered the debit card market and have done it through the back door. They've sent 'upgrades to their charge card merchantclients to upgrade their card readers and in the upgrades were also programs to allow the use of their new Debit cards and these cards are given priority in the menus.

Many merchants have complained to various controlling bodies and Visa and MC have relented and have said they could opt out but at a cost of a$10,000 service charge.

Visa and MC are trying to muscle into a very lucrative business. The merchant are afraid now that their fees are going to go silly, up and down until Visa And MC finally wear down Interac.

Visa and MC may have already sent you or will send you their own debit cards and thus trying tosqueeze out Interac. They're not new credit cards, they are dedicated debit cards.

They're just trying to pull a version of the shell game and for those of you who have a bunch of cards, watch it.

Don't know what there is to watch out for. If Visa or MC offers me a debit card I'll just say no. Or yes, depending on what the deal is.

Interac is a Canada thing...it is my understanding that the credit card companies are the ones that offer debit cards in the US.

 

[blackrock13]

I can use my debit card all over the world and do, but it is very expensive with the double billing. Interac is mostly a Canadian thing, but the CC companies want a piece of the action. The real crime in this is up to the retailers who get reverse billed and have to say they don't want it. It was snuck in under their noses and it's difficult and/or costly to get out. It'll costs them a lot and you can bet it'll be passed down to you know who.

I have very few cards and watch my statements carefully as 90% of the money I spend out there is on plastic and so very little gets by me. I'm blown away at how many people I know just receive their statements look at the total and pay it automatically.