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Amazon.com.au encourages customers to stop using their Visa card

22 points by e2e4 5y ago

ApolloFortyNine 5y ago
Good, credit card fees are the biggest scam in digital finance. By now there should be a digital cash equivalence. Yes there's fraud to worry about, but other countries (Japan) have mostly solved that by limiting how much cash can be on a digital card (one example being the suica card, which can be filled at any train station for free, but can only hold $250). And there could always be a card that does 2fa for every transaction in exchange for lower fees, that would have to lower the chance of fraud to near 0.
- slimginz 5y ago
  > And there could always be a card that does 2fa for every transaction in exchange for lower fees, that would have to lower the chance of fraud to near 0. Two questions here: 1) I could be wrong here but isn't that what the Chip and Pin combo is supposed to be? At least in the US I swear I remember the reason why a ton of businesses moved from swipe and signature to chip and pin was that they would get charged a lower fee. 2) Could someone explain to me why (at least in the US) debit cards are universally require some sort of 2FA but credit cards don't?
  - OldTimeCoffee 5y ago
    1) The US just uses the chip instead of the mag stripe. It doesn't use a PIN on most cards. Chip cards were mandated, but not using a PIN. Even on a debit card, if your bank allows the card to be used as a credit card, won't require a PIN. 2) Debit cards and credit cards are regulated separately. Most of the difference in regulations are around fraud so using a PIN helps combat fraud. Of note, the disputed amounts on a debit card aren't required to be returned to your account while disputed. On credit cards, however, they can't charge interest on the disputed amounts on a credit card while disputed so they are removed from your balance.
- fomine3 5y ago
  Limitation on Suica or other prepaid IC cards in Japan isn't due to such reason. (Off topic: Suica is 20k JPY max so about $180) Those plastic cards or NFC payment on phones can be used without any authentication. So limitation is important. For post paid (oriented) payment method like QUICPay, usually there's no limitation. Anyway additionally credit cards are available as same as worldwide. What happened for Japanese merchant (especially for restaurant) is that they just avoid adopting credit card or IC payment due to fee.

22 points by e2e4 5y ago

Good, credit card fees are the biggest scam in digital finance. By now there should be a digital cash equivalence. Yes there's fraud to worry about, but other countries (Japan) have mostly solved that by limiting how much cash can be on a digital card (one example being the suica card, which can be filled at any train station for free, but can only hold $250). And there could always be a card that does 2fa for every transaction in exchange for lower fees, that would have to lower the chance of fraud to near 0.

slimginz 5y ago
> And there could always be a card that does 2fa for every transaction in exchange for lower fees, that would have to lower the chance of fraud to near 0. Two questions here: 1) I could be wrong here but isn't that what the Chip and Pin combo is supposed to be? At least in the US I swear I remember the reason why a ton of businesses moved from swipe and signature to chip and pin was that they would get charged a lower fee. 2) Could someone explain to me why (at least in the US) debit cards are universally require some sort of 2FA but credit cards don't?
- OldTimeCoffee 5y ago
  1) The US just uses the chip instead of the mag stripe. It doesn't use a PIN on most cards. Chip cards were mandated, but not using a PIN. Even on a debit card, if your bank allows the card to be used as a credit card, won't require a PIN. 2) Debit cards and credit cards are regulated separately. Most of the difference in regulations are around fraud so using a PIN helps combat fraud. Of note, the disputed amounts on a debit card aren't required to be returned to your account while disputed. On credit cards, however, they can't charge interest on the disputed amounts on a credit card while disputed so they are removed from your balance.
fomine3 5y ago
Limitation on Suica or other prepaid IC cards in Japan isn't due to such reason. (Off topic: Suica is 20k JPY max so about $180) Those plastic cards or NFC payment on phones can be used without any authentication. So limitation is important. For post paid (oriented) payment method like QUICPay, usually there's no limitation. Anyway additionally credit cards are available as same as worldwide. What happened for Japanese merchant (especially for restaurant) is that they just avoid adopting credit card or IC payment due to fee.