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Yeah typically around 1.5% in Australia. Which is often passed on to the consumer at the point of sale. We do have a non-Visa/MC payment system here in 'eftpos
by jen729w 4y ago
Yeah typically around 1.5% in Australia. Which is often passed on to the consumer at the point of sale.
We do have a non-Visa/MC payment system here in 'eftpos', which is ubiquitous. AFAIK this is exclusively debit not credit, but this isn't my area, I'm just a consumer.
https://www.eftposaustralia.com.au https://www.eftposaustralia.com.au
- _carbyau_ 4y agoEFTPOS got kicked to the curb when paywave-with-no-pin started. And then the pandemic reinforced that idea for a lot of people. I don't know when I last used EFTPOS.
- jen729w 4y agoAah so am I not actually using it? Like I said, no idea. Most consumers don't. There's a terminal, I wave my [phone|watch|card] at it, it beeps, I walk away. Happy days. In that case if it's a Visa card, is Visa the processing entity?
- _carbyau_ 4y agoI am wishywashy on details too sorry. There is a combination of your card (debit/credit[visa/mastercard]) and the merchants setup. I am not sure who processes the payment on the merchant/supplier side for EFTPOS vs credit. So, if you have a Visa credit card, and the money comes from your credit account, like many, then it is clearly using Visa Paywave. But historically, it was Visa and Mastercard that started it with "no pin required" as an opt-out thing(IE it was enabled for you by default), and their main market is credit. Most people just rolled with it. Using the phone NFC however should give you more control I would think. But I honestly have never set it up.
- throwaheyy 4y agoEFTPOS started in the 1980s as a full-electronic network when Visa/MC transactions still used a manual imprinter and paper slips with carbon copies. Visa/MC have also gone full electronic since then, so EFTPOS has kind of served its purpose.