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Comment by em500

But as you just discovered, they don't work everywhere. Plenty of Dutch and German stores don't accept them. Visa and Mastercard interchange fees are nowadays capped to 0.3% by law, but they used to be 2%+ (and still are in the USA AFAICT), that's why historically Dutch and German retailers shunned them. Why pay 2% to accept a few more cards from foreigners and tourists when 99% of your customers already have a 0.3% fee card (Maestro or VPay)?

Also, the Dutch iDEAL system might form in important building block of a European home-grown payment solution, that hopefully will give the Visa/MC duopoly some actual competition: https://en.wikipedia.org/wiki/European_Payments_Initiative

parent em500 3 years ago

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