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What do Visa and Mastercard do? An intro to card networks

tautology.town

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Re: What do Visa and Mastercard do? An intro to card networks

#411
In Australia, the Reserve Bank is finally [banning surcharges](https://www.rba.gov.au/payments-and-infrastructure/review-of...) from October 1st. We also have the EFTPOS network, but the payment rails change depending on the card payment method.

Over the years, the "hidden fees" were accumulating, and card surcharges could hit 1-2.5%. Now, _most_ places don't have any fees (with some food places charging weekend surcharges and some egregious places adding unsolicited tips).

Re: What do Visa and Mastercard do? An intro to card networks

#412
post #347
post #265

Earlier quoted context omitted.

Can you guys still write a check at the supermarket checkout? No pin credit cards are small potatoes next to personal checks in terms of weirdness. But I wish we had that trust culture everywhere.

Which guys? :) I haven't seen checks being used to pay for groceries in either the US or EU in the past few years, in any case.

Americans :). Glad it's not being used anymore.

Re: What do Visa and Mastercard do? An intro to card networks

#413
post #411

In Australia, the Reserve Bank is finally [banning surcharges]( https://www.rba.gov.au/payments-and-infrastructure/review-of... ) from October 1st. We also have the EFTPOS network, but the payment rails change depending on the card payment method. Over the years, the "hidden fees" were accumulating, and card surcharges could hit 1-2.5%. Now, _most_ places don't have any fees (with some food places charging weekend su…

Maybe not for taxis unfortunately. That is determined by the states. They used to charge 10% card fee!
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