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Visa or Mastercard

     

injinuity

7:58 pm on Dec 22, 2002 (gmt 0)

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Hi there.. I was wondering in your opinions which is better Visa or Mastercard both from a customers point of view and from a business point of view.

Of the two which is safer, I have been told that for mastercard, you need to key in the pin number at all transcations thus none can make online purchases with a mastercard credit card even if the card no's get stolen.. is it true?.. if so then isnt mastercard more secure.

Note: Yeah yeah... I have never had a mastercard... only visa.. here in India... its visa by deafult

Jinu Johnson

8:55 pm on Dec 22, 2002 (gmt 0)

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I have been told that for mastercard, you need to key in the pin number at all transcations thus none can make online purchases with a mastercard credit card even if the card no's get stolen.. is it true?

No.

As a web developer, I've done many e-commerce sites, and worked with many of the major payment gateways. As far as they are concerned, Visa = MasterCard = American Express. No one has a particular advantage.

Most of the card issuers now have their own ideas on how to make purchases more secure (Verified By Visa, for example), but none are mandatory. Until they are, no one credit card has much of an advantage over another IMHO.

9:23 pm on Dec 22, 2002 (gmt 0)

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Yes I am using some stone age CC processing software that won't even do address verification (just zip) and it works fine with Visa MC Amex and Discover.

I suspect its days are numbered but so far so good.

11:23 pm on Dec 22, 2002 (gmt 0)

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I have to agree with the statement Visa=MasterCard.

Pretty much if you accept one you should accept the other, in the merchant accounts I have come across they are always bundled.

As far as American Express I accepted them, and paid the additional fees, for six months and recieved not one order paid with AMEX. I stopped accepting them and have not seen any decrease in sales.

Discover is another option here in the states, not sure about elsewhere, and in my first six months I have only recieved one order paid for with a Discover card but as it does not cost me anything additional I have kept them.

5:47 am on Dec 24, 2002 (gmt 0)

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VISA and MC are about equal. Merchants have the least amount of problems with them, and the have the lowest rates. Most on-line merchants pay about 2% for these two card issuers.

Some merchants find Discover less attractive then VISA and MC. Most merchants pay about 2.5%. Some Merchants have seen a recent upsurge in charge-back due to their commercials recently.

AMEX is by far the least favorite of some merchants. Some merchants refuse to take Amex cards. One merchants states that 98% of their chargebacks come from Amex card holders. AMEX allows their card holder to protest charges with little resistance. Amex on-line charges are around 3.5%. Amex targets many small business, and approves small businesses easily. So if the Merchants sells items to small businesses, they may have to take Amex cards. Many small business only have Amex cards, and will not place an order unless you take them.

4:06 am on Dec 28, 2002 (gmt 0)

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We're a brick/mortar specialty retailer plus a lot of web sales. The last time I checked it was about 50% MC, 45% Visa and 5% Discover. Central U.S. location.

We don't take AMEX because it is too expensive, and we get very few requests. If we say no to AMEX, 98% of the time they pull out another card.

We sell to quite a few small businesses. Yeah, the business may have a AMEX card but the owner will certainly have personal cards too.

7:25 am on Dec 28, 2002 (gmt 0)

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As everyone else, VISA=MASTERCARD. However, for US address verification, Visa's system using the automated 0800 number is much better and simpler than Mastercard's, which simply provides the number of the issuing bank, which you need to call in turn, and need not be automated. Although the numbers are freephone in the US, the phone bills do mount up when calling from overseas.
3:15 pm on Dec 28, 2002 (gmt 0)

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AMEX allows their card holder to protest charges with little resistance.

If we say no to AMEX, 98% of the time they pull out another card.

If I trust the merchant I'm dealing with, I'll pull out another card. If I don't, I won't, 'cause I don't know how my other card issuers will react to a fraudulent charge, and I do know about Amex so using that card makes me feel safe.