41–50 of 534 posts
Well that's annoying. Visa credit cards are very common in the UK, I myself use one for everything online. I don't know anyone who's got an American Express card in the UK Edit: Could it also be that Amazon offer their own Mastercard credit card and they're trying to nudge people towards that?
https://news.ycombinator.com/item?id=29250661 is saying the opposite so what is it?
I cannot believe that Visa transaction overhead would be higher than Amex - there's something going on behind the scenes here. I don't think this is the end of it either, it smells like a negotiation threat. Visa have a larger market share overall (80%, including debit cards [1]) but Mastercard leads in credit cards. Amex has always been fairly niche because it's not accepted everywhere. [1] https://www.statista.com/…
Quite the opposite in the UK, at least over the last 10 years or so. 99% of debit cards are Visa, and most people buying stuff on Amazon would be using a debit card, folks only really use credit cards for large purchases and things like travel, here. Even when it comes to credit cards, I would say Mastercard has like a large chunk - like 80% in terms of institutions (but who knows in terms of actual customers), I wou…
Huh? I'm in the UK, have been an Amazon customer for over 20 years and have always used a credit card for everything. I didn't even know you could use a debit card, and can't see any reason you'd want to. Paid off in full every month, better consumer protection, what's not to like?
Earlier quoted context omitted.
I like this. If that’s the case, it proves the free market works. You don’t need regulations when corporations can strongarm one another.
Oh yeah, this is a real win for consumers now that a large proportion of them are locked out from using their credit cards on Amazon.
They are probably well placed to determine how many customers use Visa with them versus Mastercard, or even have both and use both on the website. The subset who have only ever used Visa on Amazon may or may not have an alternative card they could use, but they will presumably have factored in the cost of potentially losing the sale entirely as a result of refusing Visa.
With Visa so entrenched in UK finance, it's not going to be received by customers the same way as Amex being refused (let's face it, Amex is refused most places because the only people who use it do so because they are getting cashback which is paid for by the merchant having increased fees). Instead, Visa will be the card they've always used, so if Amazon stop accepting it, I think a lot of customers will just shop elsewhere instead.
I cannot believe that Visa transaction overhead would be higher than Amex - there's something going on behind the scenes here. I don't think this is the end of it either, it smells like a negotiation threat. Visa have a larger market share overall (80%, including debit cards [1]) but Mastercard leads in credit cards. Amex has always been fairly niche because it's not accepted everywhere. [1] https://www.statista.com/…
There might be something going on with Visa in the UK. I've noticed that all the bank accounts I've had that used Visa for debit cards for many years all seem to have switched to Mastercard recently. Presumably they wouldn't overcome this much inertia unless there was a substantial financial incentive. If card issuers are finding that their costs are too high, chances are payment processors are as well.
Well that's annoying. Visa credit cards are very common in the UK, I myself use one for everything online. I don't know anyone who's got an American Express card in the UK Edit: Could it also be that Amazon offer their own Mastercard credit card and they're trying to nudge people towards that?
They aren't that common. Only 2 of the high street banks offer them, and one is moving away from them. The rest are all Mastercard.
Earlier quoted context omitted.
likely because Visa is increasing their fees in UK since Brexit unshackled them from some EU caps
I like this. If that’s the case, it proves the free market works. You don’t need regulations when corporations can strongarm one another.
Has anyone successfully nationalised/regulated into sanity this business? It's 2021, buying stuff should involve neither precious metals nor weird faceless financial cooperatives owned by private banks.
https://thepaypers.com/thought-leader-insights/blik-and-the-...
"(...) at the end of 2020 BLIK overtook payment cards in terms of the number of transactions made in global ecommerce (Polish and foreign) for the first time."
You can use it everywhere: from your local convenience store to Uber or Amazon Poland. It's also a Polish Venmo, or rather Zelle, where you can send money p2p using a phone number.
They are now experimenting with contactless payments, as well as trying to integrate with international online payment systems, and if those are a success, the future of Visa/Mastercard in Poland is rather... complicated.
And if Poland continues to be the predicting greenfield it was so far for FinTech, the decentralized, national solutions like these are likely to largely displace the 3rd parties of Visa/Mastercard/Amex alike.
That having said, one of BLIK's board members is the Mastercard CEE country manager, so... looks like they do anticipate that change.
No doubt they’ll work out a deal where the consumer pays more.