• Sustainability

  • Is the Mastercard a credit or debit card?

@AlexFL#257485 It doesn't matter how bunq labels cards for the acceptance of cards. It's a Mastercard, that's all that counts when it comes to acceptance. Since Maestro will phase out between 2023-2027, it's likely to assume that Dutch stores will all start accepting Mastercard.

    @thijsoost#257488 But a shop can always decide to only accept Mastercard Debit and not (European) Mastercard Credit cards.
    It's not very customer friendly of course, but it is legal.

      @Bastiaan#257540 Oh really? Didn't know that!

        8 days later

        And you bet they will since the fee for debit MC/VS transactions will remain the same as current Maestro (fixed 0,05 - 0,10 cts). Where credit transactions cost between 1.75 %- 2.50 % of the payment total.

        Btw, shops will not need to do anything to start accepting these Debit transactions as a replacement of Maestro, if they want to accept Credit transactions however they will need to take steps to start accepting these themselves.

          @AlexFL#259104 That’s false info. Payments with debit cards are capped in the European Union at 0,2% of the transaction value and every other card payments, including consumer credit cards, are capped at 0,3%. These are the interchange fees reglemented by the EU. So there is no objective reason (also not for the Netherlands), why shops shouldn’t accept credit cards with the end of Maestro/V-Pay. And I never met a terminal in the wild which accepted Debit Mastercard/Visa but not the Credit Version.

            @thijsoost#247427 wieso nicht? Man kann doch ins minus gehen

              @New-Green-Aoudad-596112410#259136 Zumindest nicht im Normalfall. Es gibt ein paar Sonderfälle, durch die man doch leicht ins Minus rutschen kann, aber soweit es möglich ist, lehnt bunq alle Zahlungen mit der Karte ab, wenn man nicht entsprechend viel Geld auf dem Konto hat und reserviert den notwendigen Betrag, sodass man ihn nicht doppelt ausgeben kann. https://together.bunq.com/d/24781 In diesem Punkt unterscheidet sich die bunq-Kreditkarte dann doch von anderen Kreditkarten: es ist weitaus schwieriger, Schulden zu machen, und wenn man es doch schafft, dann sind diese in der Regel gering und werden nicht bezinst.

                2 months later

                @pqckmqn#259122 apparently you don’t know the difference between the interchange fee and the fee the merchant is paying on CC transactions, it is nowhere near 0,3%.

                Educate yourself..

                  @AlexFL#270390 The three elements of a credit card payment are 1. interchange fees, 2. assessment fees, and 3. processor markup.
                  The interchange fee is the biggest part and capped by European law, the assessment fee is often part of the interchange fees. So what is your point? The fee is nowhere near 2,5% you are stating, just like I said.

                    @AlexFL#270390 Please keep it friendly here, thanks!

                      @AlexFL#270402 That's interesting! What type of card did you order to get a Mastercard debit? Since that option isn't available in the app to order?

                        @thijsoost#270404 Sorry my message might be confusing, my old, soon to be expiring debit mc’s were replaced with new debit mc’s where I was afraid they would send the credit version as a replacement.

                          @AlexFL#270408 Ah! Yes, if you order a replacement for an old debit Mastercard, you indeed still get the Mastercard debit.

                            Example of a major German PSP / bank that offers payment terminals etc. to merchants: https://www.vr-payment.de/unterwegs-kassieren There's just a flat fee of 1% on all payments, no other costs. All card types are accepted (except American Express), even JCB and UnionPay. And always a 1% fee.

                            It shows that cheaper rates are possible if merchants do a little internet search and choose a PSP that gives fair rates.

                              @AlexFL#270402 since maestro, mc/vs debit will remain fixed at 0,06-0,10.

                              This small fixed fee however is exclusive to The Netherlands. In other European countries, you cannot accept Maestro or any other debit cards for these prices.

                                @Jakob-Y#270413 I am in fact focused on the Dutch market and the consequences of issuing credit cards where Dutch retailers are going to get mc/vs debit processing automatically activated by the end of this year at the fixed fee they are used too for maestro, and if they would like to accept mc/vs credit they need to 1. contact their psp to activate creditcard transactions and 2. Accept that the fee will be 1.25% - 2.5%, which I am certain will not be motivating for them, and not just small shops, even Albert Heijn to date does not accept mc/vs.

                                  @AlexFL#270437 It will be very interesting to see how the Dutch market will develop in regards to card acceptance next year and the following years. I'm a close neighbor so when I need groceries on a Sunday, Albert Heijn is always a lifesaver. Let's see if I can also pay with my bunq Mastercard next year or not :)

                                    3 months later

                                    @Jakob-Y#247652 Do you know what will happen if the existing debit Mastercard expired, is bunq going to replace it with a Credit Mastercard or they will replace it with a debit Mastercard?

                                      8 days later