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Most shops in the Netherlands work with maestro of mastercard and vpay of Visa. It is directly linked to our bank credit and has low transaction fees. Maestro a
by jurmous 5y ago
Most shops in the Netherlands work with maestro of mastercard and vpay of Visa. It is directly linked to our bank credit and has low transaction fees. Maestro and vpay is accepted all over the world. We work directly with IBAN numbers and not with credit card types like mostly in the world.
Normal Mastercard/visa credit don’t work here since shops have to pay way higher transaction fees while almost nobody uses them.
https://en.m.wikipedia.org/wiki/Maestro_(debit_card) https://en.m.wikipedia.org/wiki/Maestro_(debit_card)
https://en.m.wikipedia.org/wiki/V_PayPlease https://en.m.wikipedia.org/wiki/V_PayPlease
It will be phased out though in 2023 to Mastercard debit and visa debit so likely in the future Netherlands payment system will be more aligned with what other countries use.
- jacquesm 5y ago> It will be phased out though in 2023 to Mastercard debit and visa debit That sounds like an absolutely terrible idea. Why would we give these two rotten-to-the-core companies such power over our payment systems?
- jurmous 5y agoIt sounds it will work the same as maestro but be usable in places where you need credit card numbers. https://www.mastercard.com/news/europe/en/perspectives/en/2021/blog-from-valerie-nowak-why-this-maestro-is-retiring-after-30-years/ https://www.mastercard.com/news/europe/en/perspectives/en/20...
- L3viathan 5y agoI don't really understand your point, neither do I understand the change: Maestro and V-PAY already _are_ owned by those two companies, and are debit cards. What changes with Mastercard/Visa debit?
- jacquesm 5y agoThat it erodes the position of EU banks in favor of Visa and Mastercard. I have no problem with them facilitating the tech, but I do have a problem with them usurping the position of the banks. The EU is already too dependent on the United States in this manner, no need to make it worse.