11–20 of 190 posts
Luckily, credit cards are really a second tier payment system in most of the EU. Country-specific (debit) cards and the international Maestro payment system are the primary way to pay, along with cash. Apart from online shopping, of course. But even there, you usually have other viable payment options. So it's probably not all that much chaos...
What was that whole thing about a "cashless society" again? What happens when a major rival actually attacks your cashless society?
Luckily, credit cards are really a second tier payment system in most of the EU. Country-specific (debit) cards and the international Maestro payment system are the primary way to pay, along with cash. Apart from online shopping, of course. But even there, you usually have other viable payment options. So it's probably not all that much chaos...
I'm not sure about "luckily". Sure, today it might be a good thing, but 99.99% of the time it's just a massive inconvenience.
So yes, luckily.
It isn't down. I work for a large e-commerce company and we're seeing ~10% decline rates, at most, on VISA cards only, and that's intermittent. Overall average decline rate is more like 1-3% when you factor in the intermittentness of it. Still not great, but not PAYMENT CHAOS and not a CRASH OF THE VISA NETWORK.
Luckily, credit cards are really a second tier payment system in most of the EU. Country-specific (debit) cards and the international Maestro payment system are the primary way to pay, along with cash. Apart from online shopping, of course. But even there, you usually have other viable payment options. So it's probably not all that much chaos...
Not in the UK, it's all mastercard/visa now.
Luckily, credit cards are really a second tier payment system in most of the EU. Country-specific (debit) cards and the international Maestro payment system are the primary way to pay, along with cash. Apart from online shopping, of course. But even there, you usually have other viable payment options. So it's probably not all that much chaos...
Not in the UK, it's all mastercard/visa now.
It isn't down. I work for a large e-commerce company and we're seeing ~10% decline rates, at most, on VISA cards only, and that's intermittent. Overall average decline rate is more like 1-3% when you factor in the intermittentness of it. Still not great, but not PAYMENT CHAOS and not a CRASH OF THE VISA NETWORK.
Earlier quoted context omitted.
I'm not sure about "luckily". Sure, today it might be a good thing, but 99.99% of the time it's just a massive inconvenience.
The european debit card systems are not comparable with how it works in the US. In the US I will use credit cards, because that is the better system down there. Over here in Europe, I'll hardly ever use a credit card. So yes, luckily.
I really miss this system every time I go back to continental Europe and suddenly have to carry around huge amounts of cash with me. Because nobody accepts cards, and even if they do it's usually only Maestro etc.