Is HSBC going to Switch from Maestro to V Pay?

zx2011

The British Retail Consortium has reported that HSBC will "force Visa debit cards on its UK customers" which is turn will cost "traders an extra £25 million a year in charges"

http://www.brc.org.uk/details04.asp?id=1346&kCat=&kData=1

Well since traders will surely pass the cost on to us why is HSBC going to Switch their debit cards again?

Is HSBC going to use a new type of pan-European debit card from Visa called V Pay?

http://www.vpay.com/

What's going to happend to Solo, Visa Electron and Visa Debit? Does anyone know why we have so many debit card types in the UK?

smithja

I am pretty sure V-pay goes on the card in addition to the Visa symbol, and V-Pay is 100% authorisation as Visa Electron is (Visa Interlink is another little know Visa card, it is the US' version of Visa Electron, try looking for it on Google image's, same logo only different words). I would agree it is getting rather complicated with all of these different types of cards.

But it sure looks like HSBC is dumping Mastercards Maestro and SOLO brands.

James

Edit: putting a little more thought in to it, I dont see any reason why they could not issue V-Pay on a card that is also Electron, but just using V-Pay itself restricts the card to the European Economic Area only which I doubt the customers will put up with. So any new HSBC card is likely to be V-pay for Europe, and Visa Debit or Electron for the rest of the world.

PaulW922

This is very interesting. If HSBC abandons Maestro that will leave RBS/NatWest, Clydesdale, Yorkshire and Northern as the only 'big banks' offering the card.

I am a card merchant and I have not heard of V Pay but I recently received notification from Barclaycard Business (who clear our card payments) of a new debit system called the 'Debit Mastercard'. I wonder if this is Mastercard's response to V Pay (which is a totally chip and pin driven system)?

Incidentally, my business is charged the same fee for debit cards regardless of whether they are Visa Debit, Electron, Maestro, Solo or the new debit Mastercard....

ShelfStacker_3

MasterCard Debit is a card scheme from the USA, they probably mention it in case you have tourists wishing to pay using it.

V Pay is a new Europe wide debit system from Visa (obviously). I doubt HSBC will be implementing it if they switch to Visa, as it currently has little retailer support.

M_Thomson

ShelfStacker wrote: »

MasterCard Debit is a card scheme from the USA, they probably mention it in case you have tourists wishing to pay using it.

V Pay is a new Europe wide debit system from Visa (obviously). I doubt HSBC will be implementing it if they switch to Visa, as it currently has little retailer support.

It is, but as the poster above says, they are launching Debit Mastercards here too this year.

M_Thomson

marcgr wrote: »

The British Retail Consortium has reported that HSBC will "force Visa debit cards on its UK customers" which is turn will cost "traders an extra £25 million a year in charges"

http://www.brc.org.uk/details04.asp?id=1346&kCat=&kData=1

Well since traders will surely pass the cost on to us why is HSBC going to Switch their debit cards again?

Is HSBC going to use a new type of pan-European debit card from Visa called V Pay?

http://www.vpay.com/

What's going to happend to Solo, Visa Electron and Visa Debit? Does anyone know why we have so many debit card types in the UK?

So many? 4 different ones are not really that many. It would be nice to see the demise of Maestro though. It has always been inferior to Visa Debit in the amount of stores that accept cards worldwide. From a poster above it looks like Debit Mastercards are launching here too, which is good news. If they change Maestro cards to Mastercards that would be good as Maestro cardholders would have much better acceptence worldwide.

Vpay is not really intended for the UK. It is for mainly intended for continental Europe. Our card usage and amount of cards issued is far more sophisticated here that on the continent. Visa Debit cards that we have are a much better option.

efallai

I'm a bit confused as to what's going on with HSBC and their cards. I read those articles about Visa vs. Mastercard a few days ago, but I read on the HSBC website about them implementing MasterCard Paypass in London http://www.hsbc.co.uk/1/2/personal/credit-cards/paypass and can't see why they're going to all the trouble of creating these new cards for customers in London as a pilot if they're just going to use Visa in the near future anyway...

Has HSBC actually confirmed they're ditching Maestro?

System

That is for credit cards.

LloydsTSB & Bank of Scotland (Halifax) both issue Visa Debit for their debit cards, but Mastercard for the vast majority of their credit cards.

efallai wrote: »

I'm a bit confused as to what's going on with HSBC and their cards. I read those articles about Visa vs. Mastercard a few days ago, but I read on the HSBC website about them implementing MasterCard Paypass in London http://www.hsbc.co.uk/1/2/personal/credit-cards/paypass and can't see why they're going to all the trouble of creating these new cards for customers in London as a pilot if they're just going to use Visa in the near future anyway...

Has HSBC actually confirmed they're ditching Maestro?

BruceyBonus

I've just seen a V-Pay ident on the screen of a Nationwide ATM. Looks as though they may be issued here soon.

kbw271186

Dear XXXXXXX

Maestro Debit Card to Visa Debit Card

Thank you for your e-message received 12 April 2008

I confirm that we are looking to convert all our Maestro Debit Cards to Visa Debit Cards.

HSBC is planning to start issuing Visa debit cards from December 2008 and will be done in phases and may take until early 2010 to complete.

Should you have any further queries do not hesitate to contact us.


Kind regards
Jason R
HSBC Internet Banking Customer Support

newfoundglory

kbw271186 wrote: »

Dear XXXXXXX

Maestro Debit Card to Visa Debit Card

Thank you for your e-message received 12 April 2008

I confirm that we are looking to convert all our Maestro Debit Cards to Visa Debit Cards.

HSBC is planning to start issuing Visa debit cards from December 2008 and will be done in phases and may take until early 2010 to complete.

Should you have any further queries do not hesitate to contact us.


Kind regards
Jason R
HSBC Internet Banking Customer Support

All makes sense, i got a new hsbc maestro card a few months back and its expiry date is short - Sept 2009