$1.31 extra fee to use the magnetic strip on payment cards - page 2.

DublinBrian

full member

Activity: 197

Merit: 100

Quote from: BitPay Business Solutions on October 22, 2012, 02:02:01 AM

this seems like an extra tax on Americans traveling abroad?

Ive heard that Visa & Mastercard have 97% market share of the european card payments market, which essentially amounts to US tax of 3% on europeans in europe, on every penny we spend! Undecided

Bitcoin will free us all from this tyranny!

Kris

donator

Activity: 640

Merit: 500

Quote from: Mike Hearn on October 22, 2012, 03:02:36 AM

Do you have a link for that? It'd be interesting to know the back story here. I couldn't find any references to such a fee with a few quick searches.

Quote from: Kris on October 22, 2012, 02:04:05 AM

Source translated to english.

http://translate.google.dk/translate?sl=da&tl=en&js=n&prev=_t&hl=da&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.dr.dk%2FNyheder%2FIndland%2F2012%2F10%2F21%2F234124.htm%3Frss%3Dtrue

Mike Hearn

legendary

Activity: 1526

Merit: 1134

Do you have a link for that? It'd be interesting to know the back story here. I couldn't find any references to such a fee with a few quick searches.

Luke-Jr

legendary

Activity: 2576

Merit: 1186

Quote from: BitPay Business Solutions on October 22, 2012, 02:02:01 AM

in the US we don't have any smart chips, yet.

Citi does, FWIW.

Kris

donator

Activity: 640

Merit: 500

Quote from: BitPay Business Solutions on October 22, 2012, 02:02:01 AM

in the US we don't have any smart chips, yet. everything is magnetic stripe. we are way behind the Europeans in this regard.

But still, forcing the customer to pay because the network technology doesn't work is pretty outrageous!

this seems like an extra tax on Americans traveling abroad?

It would be yes, and it is Robbery In Plain Sight

This won't do... We really need to push Bitcoin POS even more.

Source translated to english.

http://translate.google.dk/translate?sl=da&tl=en&js=n&prev=_t&hl=da&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.dr.dk%2FNyheder%2FIndland%2F2012%2F10%2F21%2F234124.htm%3Frss%3Dtrue

BitPay Business Solutions

hero member

Activity: 742

Merit: 500

in the US we don't have any smart chips, yet. everything is magnetic stripe. we are way behind the Europeans in this regard.

But still, forcing the customer to pay because the network technology doesn't work is pretty outrageous!

this seems like an extra tax on Americans traveling abroad?

Kris

donator

Activity: 640

Merit: 500

If the chip doesn't work on the payment card, the consumer in the future pays a fee of $1.31 dollars!

The chip doesn't not work. Try the magnetic strip. Most people know the problem with credit card chips, which fails because the store terminal is broken, or because the card is worn and dirty.

But now consumers are punished with a fine of $1.31 dollars, every time they are forced to use the magnetic stripe instead of the smaller and more secure chips on MasterCard, Eurocard and Visa credit card (not Visa / MasterCard)

Damn......

Now even more incentive to use WalletBit, Bitcoin and our upcoming Point of Sale system.

Point of Sale - WalletBit
https://bitcointalksearch.org/topic/point-of-sale-walletbit-118419

Topic: $1.31 extra fee to use the magnetic strip on payment cards - page 2. (Read 3146 times)