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Visa card network crashes, causing increased decline rates across UK and Europe

theguardian.com

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Re: Visa card network crashes, causing increased decline rates across UK and Europe

#91

Post by blensor »

the8472 wrote: post #43
the_duke wrote: post #3

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...

Many online shops take SEPA direct debit, which may be superseded by SEPA instant payments in the near future.

+1 for SEPA ICT. Once that's rolled out everywhere it is really going to challenge the established online payment systems in Europe. Last time I bought something in an Austrian online shop it offered me the "eps" option which redirected me to my own onlinebanking portal after logging in the payment had only to be confrirmed with a tan and the payment confirmation from the vendor was instant.

Basically the same flow as paying with paypal but completely through my own bank

Re: Visa card network crashes, causing increased decline rates across UK and Europe

#92

Post by plantain »

jayd16 wrote: post #85
davnicwil wrote: post #82

Earlier quoted context omitted.

I know, it seems great. But who is paying for that fraud protection? Who is paying for that customer service team? Who is paying for the fact you get paid to use it? In the end.. It's you, through slightly higher prices on everything you buy every day because retailers have to price in the cost of credit card fees that pay for all that.

Most of the time there's no explicit CC charge so you'd still be paying for it whether you paid cash or not.

That means you're paying it when you pay cash too....

Re: Visa card network crashes, causing increased decline rates across UK and Europe

#93

Post by usrusr »

JeanMarcS wrote: post #83
ihattendorf wrote: post #55

Earlier quoted context omitted.

One day to accept a job offer seems extremely short. If someone gives me one day to accept a job offer, chances are I'm still interviewing elsewhere and will decline unless it's my primary choice.

I guess that’s the point, to avoid thinking time. It’s from the interviewer point of view

The best candidates might come to an immediate decision if pressured that way.

Re: Visa card network crashes, causing increased decline rates across UK and Europe

#95

Post by joelhaasnoot »

lutorm wrote: post #94

Isn't this why you're supposed to be able to do the old hand-imprinted manual transactions? If they can't process the transaction, shouldn't they fall back to the manual option?

a) This isn't tested weekly b) I doubt any store actually has the forms/equipment/etc for this

Re: Visa card network crashes, causing increased decline rates across UK and Europe

#96

Post by expiredtofu »

davnicwil wrote: post #82
anoncoward111 wrote: post #71

Ironically my credit card info literally got stolen at a restaurant last night and most of the purchases they tried to make were declined hahahahah Honestly, I really enjoy using my credit card. I can buy anything, anytime, online, the customer service department always resolves fraud quickly, and they even pay me to use the damn thing

I know, it seems great. But who is paying for that fraud protection? Who is paying for that customer service team? Who is paying for the fact you get paid to use it? In the end.. It's you, through slightly higher prices on everything you buy every day because retailers have to price in the cost of credit card fees that pay for all that.

It's not just the merchants, but also the number of people who are not paying the full amount owed each month and accruing interest.

Re: Visa card network crashes, causing increased decline rates across UK and Europe

#97

Post by justboxing »

anoncoward111 wrote: post #71

Ironically my credit card info literally got stolen at a restaurant last night and most of the purchases they tried to make were declined hahahahah Honestly, I really enjoy using my credit card. I can buy anything, anytime, online, the customer service department always resolves fraud quickly, and they even pay me to use the damn thing

> and they even pay me to use the damn thing

I understand you are referring to Cashback "Rewards" but at the end of the day, a credit card is still a Loan.

You are borrowing money from the company to pay for goods and services and for all legal purposes you are a debtor.

Re: Visa card network crashes, causing increased decline rates across UK and Europe

#98

Post by ams6110 »

joelhaasnoot wrote: post #95
lutorm wrote: post #94

Isn't this why you're supposed to be able to do the old hand-imprinted manual transactions? If they can't process the transaction, shouldn't they fall back to the manual option?

a) This isn't tested weekly b) I doubt any store actually has the forms/equipment/etc for this

Some cards don't even have the raised, embossed printing anymore, so the imprint method wouldn't work.

Re: Visa card network crashes, causing increased decline rates across UK and Europe

#100

Post by falcon620 »

Filligree wrote: post #16
martinald wrote: post #6

Earlier quoted context omitted.

Not in the UK, it's all mastercard/visa now.

Visa Debit, though?

"it's all mastercard/visa now" shows us he/she likely doesn't understand the vast difference between debit and credit cards.

If anyone from the UK who does understand that difference would chime in, that would be helpful.

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