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SumUp and Zettle are typically used by small businesses, not big ones, and even in this space, there's competition. [1] I don't believe MasterCard and Visa are
by hocuspocus 4y ago
SumUp and Zettle are typically used by small businesses, not big ones, and even in this space, there's competition. [1]
I don't believe MasterCard and Visa are forcing anyone's hand, but they obviously give better deals to card issuers that don't co-brand their card with the domestic payment network. The scheme fee is the smallest part of the overall transaction fee, in the end it's mostly banks that profit from ditching Girocard and the like. These networks cannot survive on their own since people need a payment card that works in neighboring countries.
The EU should really push EPI [2] but I belive the initiative has stalled. Empsa [3] is also promising, but in practice the transaction fees aren't cheaper than using a MasterCard or Visa debit card, at least for now.
1. for instance https://www.stancer.com https://www.stancer.com
2. https://www.epicompany.eu https://www.epicompany.eu
3. https://empsa.org https://empsa.org
- kuschku 4y ago> I don't believe MasterCard and Visa are forcing anyone's hand, but they obviously give better deals to card issuers that don't co-brand their card with the domestic payment network. MasterCard has banned any and all co-branding with domestic payment networks, starting 2023-01-01. Which is why many banks are now forced to abandon Girocard, or are switching to Visa.
- hocuspocus 4y agoDo you have a source? Is it specific to Germany? Because that doesn't seem true everywhere, see in France for instance: https://www.fortuneo.fr/compte-bancaire/carte-gold-mastercard https://www.fortuneo.fr/compte-bancaire/carte-gold-mastercar... It's still co-branded CB.
- kuschku 4y agoSee https://www.handelsblatt.com/finanzen/banken-versicherungen/banken/mastercard-nach-maestro-aus-wie-sparkassen-und-volksbanken-auslandszahlungen-mit-girocards-sicherstellen-wollen/28133376.html https://www.handelsblatt.com/finanzen/banken-versicherungen/... It's been delayed a bit, but MasterCard will not support any co-branded cards after summer 2023.
- hocuspocus 4y agoDoesn't this article say precisely the opposite? I.e. German banks are able to issue Girocards co-branded MasterCard debit. Maestro is on the way out but that's old news, and already a reality in most of Europe.
- kuschku 4y agoIf that's actually the case, that would be great, but from what other media, including Zeit report, this change actually leads to bank phasing out Girocard entirely, instead of co-branding with Mastercard debit.