Wise (Transferwise) changing debit cards to Visa

s_r

Wise are now offering a Visa Debit card - think they are phasing out Mastercard debit cards. Even if you have the Mastercard debit card (and one would think that it will continue to work as normal until it's expiry), you can still order the Visa Debit card (which will start shipping from April 2021.

greyteam1959

Does it really matter ??

dr_adidas01

greyteam1959 said:

Does it really matter ??

It might and the OP was just being helpful and informing people of something that might be useful to some forum members. 

greyteam1959

Why would it matter ??
I have a Wise debit card

& I could not give a monkeys if it is a Visa or a  MasterCard card.

Armorica

oh - that is interesting. Most of the news recently has been about changing from Visa to Mastercard, so interesting a card issuer is going the other way.
In terms of why it matters...then one area is interchange fees, which can different, the other would be if one has an outage...you might want to ensure you have cards of both brands from different providers.

*California*

greyteam1959 said:

Does it really matter ??

I believe, it does really matter.

sausage_time

Their virtual debit card is already Visa, so if you have that you can swing both ways!

s_r

Did some research and the reason behind their switch to Visa is to be able to introduce their borderless account in a lot of new countries (especially in Asia and Africa). In some countries, it is incredibly difficult to convert your savings into a foreign currency (especially where your base currency might be relatively small and not a reserve currency like we have with the GBP) so it will definitely benefit a lot of people having a Wise borderless account.

colsten

I was reading something in this context yesterday. VISA has some sort of new system that supports real-time domestic and cross-border person-to-person, business-to-small business and business-to-consumer transactions. Obviously just the kind of things Wise does.

https://www.finextra.com/newsarticle/37772/visa-expands-global-money-movement-beyond-the-card

jbrassy

As someone who has done quite a bit of travelling, it can matter. For example, when I visited Peru, I sometimes went to more rural places where Visa was widely accepted and Mastercard wasn't. I make sure I carry a Mastercard and a Visa when abroad for this reason.