This is a golden quote from the post.
"If you want people to like you, give them something. If you want people to hate you, take something away from them. "
Great work Visa, now I hate you
141–150 of 267 posts
Re: Great work Visa, now I hate you
#142Earlier quoted context omitted.
Since Visa's been doing this since 1986, that's an awfully long test. They do quantify the results, though: > According to the U.S. Sponsorship Tracker, a Visa commissioned study following the Vancouver 2010 Olympic Winter Games conducted by Performance Research, an independent research company, Visa cardholders who were aware of Visa’s Olympic Games sponsorship claimed a 16 percent and nine percent increase in Visa…
It's been enforcing these kind of competitor exclusion zones on card payments at major sporting events since 1986? Ah.. Just looked it up. - http://www.apnewsarchive.com/1996/Visa-Will-be-Only-Credit-C... OK. Fair enough. They haven't just miraculously turned into complete bastards on this, they were just complete bastards all along and the press happens to be making a fuss about it at the moment, just cos it is news…
Just because consumers accepted something in the past does not mean they will accept it in the future.
For example, in the past when I found a flashy new b2b service I would grumble when I couldn't find a price list and continue my research. Now, when I visit a company's page and there are no listed prices, I immediately close the tab and forget about it.
Saying "We only accept Visa" is like saying "We only serve white people." Exclusive, yes. A reminder of ethnic and class privilege, yes. Desirable by any progressively minded individuals? Absolutely not.
A note about online payments when it comes to credit cards, I pretty much stopped using my Mastercards with the exception of Amazon because of that damn Securecode implementation. I think payment processors and providers who erect any restrictions or barriers will find them self quickly suffocated out by services who are going the other direction. (I'm one of the guys who believes within the next 5 years you'll just be able to walk out of most stores with a product and seamlessly be billed for it, uber style.)
Re: Great work Visa, now I hate you
#143Re: Great work Visa, now I hate you
#144I've been having enormous trouble understanding the thinking behind the "We are proud to only accept Visa" marketing campaign. I simply can't understand how it could be viewed positively by any consumer - it's such an obviously anti-customer thing to do. I've been trying really hard to understand why Visa would make such an obviously unfriendly and counter-productive decision. The only theory I can come up with is th…
Consumers learn something crucial from this marketing campaign: that American Express and certain other credit cards are NOT accepted by some merchants, so it's a good idea to get and always carry a Visa card -- by implication, the only card accepted everywhere.
The problem is that everyone know that other cards are accepted everywhere apart from the olympics, or at least Mastercard is.
This is more like BMW deciding to sponsor the construction of a road and only allowing their cars to pass.
Re: Great work Visa, now I hate you
#145I've been having enormous trouble understanding the thinking behind the "We are proud to only accept Visa" marketing campaign. I simply can't understand how it could be viewed positively by any consumer - it's such an obviously anti-customer thing to do. I've been trying really hard to understand why Visa would make such an obviously unfriendly and counter-productive decision. The only theory I can come up with is th…
> I simply can't understand how it could be viewed positively by any consumer Visa's market research suggests a significant increase in Visa usage and Visa brand value among consumers aware of their Olympic sponsorship (which has been ongoing since 1986, and already committed through the next 4 Olympics games): > According to the U.S. Sponsorship Tracker, a Visa commissioned study following the Vancouver 2010 Olympic…
> Visa's market research suggests a significant increase in Visa usage and Visa brand value among consumers aware of their Olympic sponsorship.
Couldn't this be that heavy-Visa users notice the company's sponsorship and usage more generally? This doesn't really prove that Olympics sponsorship increases usage.
> The same report found Visa’s brand equity was higher among consumers who were aware of Visa’s sponsorship.
Again, couldn't it just be that the kinds of people who notice that Visa sponsors things are the kinds of people who already like Visa? This doesn't establish that sponsoring the Olympics helps Visa.
Re: Great work Visa, now I hate you
#146My sympathy goes to the writer, but honestly, if you turn up at any major sporting event, anywhere in the world, without CASH, then you are asking for trouble. Cash is still king especially with small vendors, cafes, people selling hot dogs, etc. I'd never go anywhere like that without a plentiful supply.
Re: Great work Visa, now I hate you
#147I've been having enormous trouble understanding the thinking behind the "We are proud to only accept Visa" marketing campaign. I simply can't understand how it could be viewed positively by any consumer - it's such an obviously anti-customer thing to do. I've been trying really hard to understand why Visa would make such an obviously unfriendly and counter-productive decision. The only theory I can come up with is th…
> I simply can't understand how it could be viewed positively by any consumer Visa's market research suggests a significant increase in Visa usage and Visa brand value among consumers aware of their Olympic sponsorship (which has been ongoing since 1986, and already committed through the next 4 Olympics games): > According to the U.S. Sponsorship Tracker, a Visa commissioned study following the Vancouver 2010 Olympic…
>According to the U.S. Sponsorship Tracker, a Visa commissioned study following the Vancouver 2010 Olympic Winter Games conducted by Performance Research
When a company is paying for research about its own decisions, the research always comes back that the decision was wonderful, or that research firm doesn't get hired again.
Re: Great work Visa, now I hate you
#148Earlier quoted context omitted.
"$700 million worth of charges" Visa only gets 2-5% of the charge. Lets assume on the high end at 5% we are talking about only 35 million in income. Even doubling that for the second week we get 70 million (before costs). How is that the quickest ROI ever? Sounds like a bad marketing move backed up by a loss of profits. Maybe the real winners were the olympic committee or the other credit card companies that bid up t…
> Visa only gets 2-5% of the charge. Visa doesn't get that - the issuing bank does. Visa probably gets %0.1 of the charge.
[deleted]
Re: Great work Visa, now I hate you
#149I've been having enormous trouble understanding the thinking behind the "We are proud to only accept Visa" marketing campaign. I simply can't understand how it could be viewed positively by any consumer - it's such an obviously anti-customer thing to do. I've been trying really hard to understand why Visa would make such an obviously unfriendly and counter-productive decision. The only theory I can come up with is th…
> I simply can't understand how it could be viewed positively by any consumer Visa's market research suggests a significant increase in Visa usage and Visa brand value among consumers aware of their Olympic sponsorship (which has been ongoing since 1986, and already committed through the next 4 Olympics games): > According to the U.S. Sponsorship Tracker, a Visa commissioned study following the Vancouver 2010 Olympic…
A lot of us in Vancouver really resented the "only accepts Visa" thing. It was particularly aggravating in Canada where most people pay with a bank debit card, not Visa or Mastercard.
That said, it's not surprising that the overall effect of the sponsorship was positive since refusing MasterCard and debit was only one small aspect of Visa's campaign. Reading about this again in London made me all riled up again, but Morgan Freeman's soothing voice will likely undo the damage soon enough.
Re: Great work Visa, now I hate you
#150Earlier quoted context omitted.
I work retail, and we're forced to charge slightly different rates to credit card users (store policy, I don't agree with it!). However most new debit cards in New Zealand these days are Visa ones, which confuse the hell out of me. Some banks don't put "debit" on the card and our machine will show "ASB Visa" for others.
I hope you guys are doing that by giving cash discount, instead of charging extra on credit (yeah, I know). That is against both visa's and mastercard's terms of service, and they will go after you for that.
A surcharge for using credit cards is fairly common here; as far as I'm aware it's not against their ToS within Australia.
Here's a relevant article which discusses attempts to limit the surcharges: http://au.ibtimes.com/articles/351577/20120613/rba-seeks-lim...