First Direct to switch to MasterCard Debit Cards

stclair

gt94sss2 said:

First Direct to switch to MasterCard Debit Cards from Visa with the first customers expected to get them by the end of this year.

https://www.finextra.com/pressarticle/83703/first-direct-selects-mastercard-as-partner-for-debit-cards

This is the official announcement.
https://newsroom.mastercard.com/eu/news-briefs/first-direct-selects-mastercard-as-partner-for-debit-cards/

stclair

ischris85 said:

So FD will use mastercard but the rest of the HSBC group will use visa - seems odd to me.

HSBC in the US already use debit MasterCard 
https://www.us.hsbc.com/checking-accounts/products/debit-cards/

Migster

AstonSmith said:

That's quite interesting, at my workplace VISA debit is more expensive than Mastercard Credit. Mastercard Debit/Maestro are the cheapest.

I probably should have added that all of our sales are online, which increases the cost as the schemes charge additional e-commerce fees. Our credit card merchant fees are based on a % of the transaction value, whereas our debit fees are a fixed amount (interchange for all card is payable in addition).     

MalMonroe

greyteam1959 said:

And I have to ask......
Does it really matter ??

Oh noes!!  You have completed missed the satire!!!  Although we WERE all alerted to it!!  Spoiled the whole thing, now. . . . 

stclair

I wonder if they’ll make the new debit cards portrait, I find there current cards are quiet flimsy.

London7766551

stclair said:

ischris85 said:

So FD will use mastercard but the rest of the HSBC group will use visa - seems odd to me.

HSBC in the US already use debit MasterCard 
https://www.us.hsbc.com/checking-accounts/products/debit-cards/

It is obvious HSBC will do it here, they are doing it as First Direct first to see how it goes if you ask me.

Santander ditched Visa as well, MC must be offering something!

notveryeducated

TSB were meant to switch to MC last year but they cancelled and decided to stay with Visa. 

EarthBoy

notveryeducated said:

TSB were meant to switch to MC last year but they cancelled and decided to stay with Visa. 

TSB's IT disaster led to that plan being postponed, but I haven't seen anything from them to confirm it's actually been cancelled.  If they'd signed a contract with Mastercard it could have cost them a lot of money to get out of it.

notveryeducated

EarthBoy said:

notveryeducated said:

TSB were meant to switch to MC last year but they cancelled and decided to stay with Visa. 

TSB's IT disaster led to that plan being postponed, but I haven't seen anything from them to confirm it's actually been cancelled.  If they'd signed a contract with Mastercard it could have cost them a lot of money to get out of it.

It's been cancelled. I asked in my local branch when I deposited a cheque a few months back. 

gt94sss2

The banks used to own Visa Europe but sold it to Visa in 2016.

As such, they have less reason to stick with Visa now and can now decide which company they want to use on more commercial terms.