Question for 2fast

[webworm98]

Sorry, if wrong forum.

 

http://www.wreg.com/sns-ap-ar--debitcards-...0,4713837.story

 

I am confused. There is something missing in the story.

 

If the Pin (ATM) networks are separate from the credit card networks. How can Visa or Mastercard force them to upgrade the pump to accept pin based debit cards? One the pin side, they could just refuse to take Interlink or Maestro.

 

Most debit cards can work as signature or pin transaction and those cards usually have a Visa or Mastercard logo on them.

 

So even if they say, no debit cards at the pumps. They could still pay with a debit card through the Visa/Mastercard credit system at the pump.

 

Wouldnt the credit card companies also be violating the settlement agreement they made with wal-mart and other retailers by forcing them to do this?

Edited July 19, 2009 by webworm98

[webworm98]

Bumped because I see 2fast is online.

[2fast]

Sorry, if wrong forum.

 

http://www.wreg.com/sns-ap-ar--debitcards-...0,4713837.story

 

I am confused. There is something missing in the story.

 

If the Pin (ATM) networks are separate from the credit card networks. How can Visa or Mastercard force them to upgrade the pump to accept pin based debit cards? One the pin side, they could just refuse to take Interlink or Maestro.

 

Most debit cards can work as signature or pin transaction and those cards usually have a Visa or Mastercard logo on them.

 

So even if they say, no debit cards at the pumps. They could still pay with a debit card through the Visa/Mastercard credit system at the pump.

 

Wouldnt the credit card companies also be violating the settlement agreement they made with wal-mart and other retailers by forcing them to do this?

There's more to the story than what the retailer says... Visa and MC are NOT forcing equipment upgrades to merchants who don't want to do PIN based at the pump transactions.

Visa has a different rate structure for PIN based check card transactions (you guys call it debit) which happen on the visa network, They aren't talking about MAC, and NYCE. That's why I hate Visa and MC cards being called debit since they are not true debit networks. They are talking about using PIN auth on your Visa check card just like you might do at Wal Mart when you pay your bill at the counter. It's not switching to a different network, just using your PIN that your financial institution provides to the network.

Visa's been talking about doing something to stop the merchants from complaining about pay at the pump fees and it'd go a long way to stop customer complaints over the hold as well.

There have been no bulletins issued by Visa on this. My bet is it's their processor spinning this. Arkansas has their own rules and I even have different apps to use with merchants there.

I'd like to hear the whole story

Edited July 20, 2009 by 2fast

[webworm98]

Sorry, if wrong forum.

 

http://www.wreg.com/sns-ap-ar--debitcards-...0,4713837.story

 

I am confused. There is something missing in the story.

 

If the Pin (ATM) networks are separate from the credit card networks. How can Visa or Mastercard force them to upgrade the pump to accept pin based debit cards? One the pin side, they could just refuse to take Interlink or Maestro.

 

Most debit cards can work as signature or pin transaction and those cards usually have a Visa or Mastercard logo on them.

 

So even if they say, no debit cards at the pumps. They could still pay with a debit card through the Visa/Mastercard credit system at the pump.

 

Wouldnt the credit card companies also be violating the settlement agreement they made with wal-mart and other retailers by forcing them to do this?

There's more to the story than what the retailer says... Visa and MC are NOT forcing equipment upgrades to merchants who don't want to do PIN based at the pump transactions.

Visa has a different rate structure for PIN based check card transactions (you guys call it debit) which happen on the visa network, They aren't talking about MAC, and NYCE. That's why I hate Visa and MC cards being called debit since they are not true debit networks. They are talking about using PIN auth on your Visa check card just like you might do at Wal Mart when you pay your bill at the counter. It's not switching to a different network, just using your PIN that your financial institution provides to the network.

Visa's been talking about doing something to stop the merchants from complaining about pay at the pump fees and it'd go a long way to stop customer complaints over the hold as well.

There have been no bulletins issued by Visa on this. My bet is it's their processor spinning this. Arkansas has their own rules and I even have different apps to use with merchants there.

I'd like to hear the whole story

 

 

When using visa or mastercard check/debit card at walmart. The pin pad screen pops up, however, you can hit cancel and choose credit. Both methods come out of your checking account.

 

As far as the article

 

I noticed that information is posted on news sites as well as other sites.

 

It is more like the merchant provider wants to force the merchant to take pin based debit card at the pump. Someone, ought to tell Nick Siddique that is not true. Also, it could be Shell requiring this.

Edited July 20, 2009 by webworm98