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Mastercard Should Stop Selling Our Data

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Re: Mastercard Should Stop Selling Our Data

#131

Post by jdofaz »

wolverine876 wrote: post #130
quesera wrote: post #103

Earlier quoted context omitted.

> Also, some businesses, such as car rental companies, won't provide services to debit card holders. I think most debit cards, at least in the US, can also be authorized on the credit rails, and can therefore be used to rent cars. It's always worked for me.

How does that work? Do you tell them it's a credit card?

Sometimes the terminal will ask Debit or Credit, sometimes it will just prompt for a PIN (meaning it wants to run it as debit) and you can just hit OK and it will run it as credit instead.

Re: Mastercard Should Stop Selling Our Data

#132

Post by jdofaz »

quesera wrote: post #103
wolverine876 wrote: post #54

Earlier quoted context omitted.

There are advantages to credit. For example, the money remains in your hands until you pay your credit card bill, so if there is a dispute, fraud, or overcharge, you don't have to fight and wait to get your money back. Also, some businesses, such as car rental companies, won't provide services to debit card holders. Also, it's a free [edit: zero-interest, not free] loan (if you pay credit card bills in full); you get…

> Also, some businesses, such as car rental companies, won't provide services to debit card holders. I think most debit cards, at least in the US, can also be authorized on the credit rails, and can therefore be used to rent cars. It's always worked for me.

When I opened my checking account at Bank of America I was issued a ordinary debit card. After a couple years they replaced it with one with a Visa logo. I argued with them on the phone long enough to get them to replace it with an ordinary debit card. After than one expired they did the same thing and I gave up. I haven't seen a debit card from any bank without visa or mc in a long time.

Re: Mastercard Should Stop Selling Our Data

#134

Post by sircastor »

paulpauper wrote: post #95

Anyone who makes an account on a commercial website has consented to this indirectly. We've crossed the Rubicon long ago. Most people seem content with their info shared, sold, brokered, etc.

Content? I doubt it. But the choice is agreeing to the terms or not being able to use modern services. And the terms are increasingly abusive.

It used to be that buying something remotely was mailing or calling Sears-Roebuck. You give them money, they ship you a thing. Reasonably discretely.

Re: Mastercard Should Stop Selling Our Data

#135

Post by bippihippi1 »

thephyber wrote: post #127
daft_pink wrote: post #18

Does this mean that Visa, AMEX and Discover don't sell our data? I agree. Just curious if I should be preferring a specific card company.

None of the big 4 networks in the US don’t sell data. Best to opt-out of each that you use.

source?

Re: Mastercard Should Stop Selling Our Data

#136

Post by makeitdouble »

edmundsauto wrote: post #60
makeitdouble wrote: post #40

Earlier quoted context omitted.

From the other side of the table, I've worked in companies avoiding Amex support as long as they could, and even after actively obfuscating the support to push the user to use another card. For smaller entities it's a PITA to have to manage a separate additinal contract, and it costs a lot more for the merchant, when virtually nobody only owns an Amex. If you're in europe there are probably other payment means that d…

Otoh, companies chasing the highest dollar value customers or differentiating via service may want to take it. Higher ticket prices, more revenue, despite the aggravations. It’s almost as if a business needs to decide if it’s mass market or high end. I would only buy certain classes of goods with my AmEx due to how confident I am that Amex customer service has my back. For example, the Amex platinum card will reimbur…

Yes. This also happens on luxury goods: if you're selling hotel rooms on top of a casino, accepting Amex/Diner etc. is table stakes.

Cheaping out on processing fees or putting friction on the payment part will be a signal that you don't understand your customer and will potentially be nickel and diming the experience all the way down, which is clearly not the image you're trying to convey.

Re: Mastercard Should Stop Selling Our Data

#137

Post by jxramos »

kibibyte wrote: post #128
PeterisP wrote: post #114

Earlier quoted context omitted.

The merchant may pass on the line item information as well, whether they do so depends on what agreements or other motivation they have.

Yep, this is "level 3 data". Merchants or payments services often get lower interchange rates for providing this extra data

I always wondered about this. It feels like the information gets compressed or summarized a bit. I know this because when I previously had fraud charges I had to dispute the credit card company could report with some amount of accuracy the items that made up the transaction as well as in other transactions that they took the time to vet for fraud as well since they had me on the phone. It wasn’t brand or sku number granularity it was more categorical, clothing, maybe a sweater or something coarse like that. Perhaps the credit card companies do have this information but anonymize it a bit for the customer service folks?

Re: Mastercard Should Stop Selling Our Data

#138

Post by fiddlerwoaroof »

owenmarshall wrote: post #118
fiddlerwoaroof wrote: post #94

Earlier quoted context omitted.

Amex is frequently not taken by small businesses that don’t use one of the newer POS systems like Square or Clover.

IME, it’s less about POS systems and more about what the merchants are willing to give up in fees. Amex charges significantly more than the others, to the point that multiple businesses I frequent offer a sliding scale - par for cash/check, +2-5% for Visa/Mastercard/Discover, +5%+ for Amex. This is just one more input to an optimization problem for me, but for merchants makes a significant difference: my mechanic say…

Well, I’ve noticed businesses switch to accepting Amex when they got one of the newer POS systems. I wonder if Square/Clover/etc. have negotiated different rates for their customers.

Re: Mastercard Should Stop Selling Our Data

#139

Post by [deleted] »

lxgr wrote: post #126
maronato wrote: post #122

Earlier quoted context omitted.

Yes, but how is Mastercard encouraging me to spend more? In my day to day, it matters little which payment network I use since that’s abstracted away by the bank’s interface. What opportunity does Mastercard have to target me?

Presumably they could tell stores that you have your card on file with? (Only speculating; I have no idea if they or any other card network actually does that.)

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