Is HSBC going to Switch from Maestro to V Pay?

BruceyBonus

newfoundglory wrote: »

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

Me too - mine had an expiry date just 18 months ahead. My previous HSBC debit card had a validity of 2 years and another company's card was for 3 years.

PROLIANT

I doubt very much and hope that V pay doesnt hit this country, it looks and sounds mickey mouse.

smithja

Proliant, what do you mean?

We are moving towards a 100% authorisation system for everything. At that point, everyone will essentially have an Electron card, no one will be able to spend more than their bank wants them to, and everyone will feel equal.

No more of this "i am better than you because my piece of plastic is embossed not debossed", or mine can be used under a floor limit and yours needs authorisation.

V-pay was introducted due to a specific European Law and all countries in the European Union will need to move towards using either it or Maestro for inter-country debit card payments within the European Economic Area.

V-pay is simply a European debit card programme on to which any bank can migrate their current system easily without changing the account number. It will mean the end of all Visa numbers beginning with a 4. Visa has a very detailed website about this to sell the product to banks.

James

skyrider007

My Maestro card expires in October 2009. Anyway is V-Pay accepted globally (offline/online) like the original Visa?

PROLIANT

smithja wrote: »

Proliant, what do you mean?

We are moving towards a 100% authorisation system for everything. At that point, everyone will essentially have an Electron card, no one will be able to spend more than their bank wants them to, and everyone will feel equal.

No more of this "i am better than you because my piece of plastic is embossed not debossed", or mine can be used under a floor limit and yours needs authorisation.

V-pay was introducted due to a specific European Law and all countries in the European Union will need to move towards using either it or Maestro for inter-country debit card payments within the European Economic Area.

V-pay is simply a European debit card programme on to which any bank can migrate their current system easily without changing the account number. It will mean the end of all Visa numbers beginning with a 4. Visa has a very detailed website about this to sell the product to banks.

James

Wrong, Electron type cards are NOT accepted by Railway stations, booking offices of any kind, most cinema's, buffet cars on trains, airports, certain shops, most petrol stations, motorway service stations and the list goes on, I waited till the age of 27 till I could get a proper debit card and had to struggle with the Mickey mouse cards like Electron for years, the latter mentioned type of business have invested millions in their EPOS systems and I can assure they will not migrate over a couple of months, try years!

PROLIANT

skyrider007 wrote: »

My Maestro card expires in October 2009. Anyway is V-Pay accepted globally (offline/online) like the original Visa?

No, it is an Electron card.

Gillianh2

PROLIANT wrote: »

Wrong, Electron type cards are NOT accepted by Railway stations, booking offices of any kind, most cinema's, buffet cars on trains, airports, certain shops, most petrol stations, motorway service stations and the list goes on, I waited till the age of 27 till I could get a proper debit card and had to struggle with the Mickey mouse cards like Electron for years, the latter mentioned type of business have invested millions in their EPOS systems and I can assure they will not migrate over a couple of months, try years!

I can and do use an electron card at petrol stations I have booked train tickets with it. On the whole I have found it to be accepted in at least 96% of shops that I use. I can even use it over the phone to pay bills and on line to pay catalogue etc;

M_Thomson

smithja wrote: »

Proliant, what do you mean?

We are moving towards a 100% authorisation system for everything. At that point, everyone will essentially have an Electron card, no one will be able to spend more than their bank wants them to, and everyone will feel equal.

No more of this "i am better than you because my piece of plastic is embossed not debossed", or mine can be used under a floor limit and yours needs authorisation.

V-pay was introducted due to a specific European Law and all countries in the European Union will need to move towards using either it or Maestro for inter-country debit card payments within the European Economic Area.

V-pay is simply a European debit card programme on to which any bank can migrate their current system easily without changing the account number. It will mean the end of all Visa numbers beginning with a 4. Visa has a very detailed website about this to sell the product to banks.

James

There will be no changes to the present system in the UK. We are a much more sophisticated market for debit and credit cards that Continental Europe. Vpay is mainly for countries that use the Euro. Vpay maybe accepted here eventually, but only so Europeans that travel here can use their cards. It will not mean the end of Visa cards beginning with a 4. All Visa credit and debit cards around the world start with a 4. Do you honestly think that Visa will change the way they issue cards worldwide just for continental Europe? V Pay is also an inferior product, as it can only be used within the EU and is only chip and pin compliant. What about when you travel outside the EU to a non chip and pin country like America or Australia?

smithja

Hi MThomas

I disagree, I also did not say it will mean an end to Visa numbers beginning in 4, just that all Visa numbers will no longer begin with a 4.

If you look at my first post on the topic, you will see I also stated that a V-pay card (certainly those issued in the UK, I agree in some European markets they will not be co-branded and only for use within the European Economic Area, which we are and means if a bank migrates and their current number system does not begin with a 4 neither will the V-pay card number, I beleive you may misunderstand exactly what V-pay is) will have to be co-braded Visa Debit or Visa Electron, as consumers will not tolerate only being able to use their Visa debit card in Europe.

Take a look at this:-

http://www.vpay.com/brochures/VPAY_Brochure_EN.pdf

I hope you are enlightened by it, the full technical specification for card number migration from other domestic debit card systems are available from Visa on request.

James

Edit: The V-pay site in general has a great deal of information on it that people will find useful in understanding what it is about. Another part I though in particular PROLIANT would find interesting is:

"A card for every day spending

• As it becomes established, we expect that more and more merchants will welcome V PAY.
• In particular, V PAY is particularly suitable for routine, day-to-day spending – and merchants should happily accept V PAY for small amounts.
• V PAY will also be widely accepted for self-service transactions – such as ticket machines at train stations, self-checkout aisles at grocery shops and pay-at-pump petrol stations. "

And the latter point in-patricular, Visa has already invested millions in upgrading systems towards the 100% authorisation society, with card conforming to what is called EMV standards, and SEPA regulations.

James

skyrider007

PROLIANT wrote: »

No, it is an Electron card.

I'd rather retain my Maestro Card than have an Electron card! Will they only change Solo to V-Pay and maybe Maestro to full Visa?