BNZ and KiwiBank are both telling customers that they will be getting new Visa brand credit cards to replace their MasterCard branded cards
KiwiBank I know about from personal experience: I got an email saying "<name>, your Visa will be on its way soon ... We're changing our credit cards from Mastercard to Visa"
BNZ from Stuff: https://www.stuff.co.nz/business/119224933/bnz-sends-first-tranche-of-letters-saying-credit-cards-will-be-cancelled-in-march
What is going on?
Why are these big banks apparently happy to piss off customers, not something they usually do for no reason?
Yes, I know the answer is broadly "money", but what are the specifics at work here?
Incidentally I found an old GZ thread from 2017 why is anz changing from mastercard to visa?
Does this mean that MasterCard is now pretty much out of the NZ market?
🤔