Geekzone: technology news, blogs, forums
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.

View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 
2941 posts

Uber Geek
+1 received by user: 672

  # 1762021 12-Apr-2017 09:52
Send private message



michaelmurfy: There are several reasons and no, not money related.

- Apple Pay + GoMoney Wallet.
- Making it simpler for the consumer - there was 2 of most cards and now there is 1.
- Due to the brand, Visa is accepted in more places.
- Contactless ATM's.

There are other reasons too but it is not at all money related.


Maybe in some small food stand in the foothills of Mongolia, but is there anywhere in the developed world where Mastercard is not accepted, but Visa is?


I ask because I use Mastercard - regularly, and have for many years - and have never struck an instance where Mastercard is a no go, but Visa is.



Sometimes there seem to be funny regional things that go on with credit cards where you might find one card doesnt work on a foreign website - dont know if they geo-block cards. But having a Mastercard and a Visa - if one wouldnt work the other usually would.

Nothing is impossible for the man who doesn't have to do it himself - A. H. Weiler

1955 posts

Uber Geek
+1 received by user: 515

Lifetime subscriber

  # 1762065 12-Apr-2017 11:28
Send private message

Of course it is a money making decision. Did you ever know of a bank doing things for any other reason?


The credit cards that banks promote are often used for product differentiation - we used to have a Mastercard which had lower fees than the bank's Visa card - to increase market share or profitabiiity. At the moment, ANZ may be pushing to reduce costs so it is rationalising the number of products. This has happened in the past. ANZ may well promote MasterCard again.


I imagine that ANZ will continue to be a member of Mastercard NZ just as it is in Visa NZ. Both organisations have been traditionally owned by the financial institutions that use them and I hadn't heard that this has changed.


As to why you'd want both cards: Visa was better supported in the USA and MasterCard was better supported in Asia, for example. So it was an advantage to travel with both cards. There are still many retailers overseas who only accept cards from one network.


See the graphs for credit card circulation inside and outside the USA. Visa is way stronger in the USA but MasterCard is slightly ahead outside the USA. If I had turnover stats we'd see Visa does about twice the global business of Mastercard simply because the majority of global credit card business is on US cards - from memory, up to 60%, with Brazil second on about 20%. By the way, the credit card business is primarily interest earned on overdue balances:

1 | 2 
View this topic in a long page with up to 500 replies per page Create new topic

Twitter and LinkedIn »

Follow us to receive Twitter updates when new discussions are posted in our forums:

Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:

Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:

News »

Dunedin selects Telensa to deliver smart street lighting for 15,000 LEDs
Posted 18-Jul-2019 10:21

Sprint announces a connected wallet card with built-in IoT support
Posted 18-Jul-2019 08:36

Educational tool developed at Otago makes international launch
Posted 17-Jul-2019 21:57

Symantec introduces cloud access security solution
Posted 17-Jul-2019 21:48

New Zealand government unveils new digital service to make business easier
Posted 16-Jul-2019 17:35

Scientists unveil image of quantum entanglement
Posted 13-Jul-2019 06:00

Hackers to be challenged at University of Waikato
Posted 12-Jul-2019 21:34

OPPO Reno Z now available in New Zealand
Posted 12-Jul-2019 21:28

Sony introduces WF-1000XM3 wireless headphones with noise cancellation
Posted 8-Jul-2019 16:56

Xero announces new smarter tools, push into the North American market
Posted 19-Jun-2019 17:20

New report by Unisys shows New Zealanders want action by social platform companies and police to monitor social media sites
Posted 19-Jun-2019 17:09

ASB adds Google Pay option to contactless payments
Posted 19-Jun-2019 17:05

New Zealand PC Market declines on the back of high channel inventory, IDC reports
Posted 18-Jun-2019 17:35

Air New Zealand uses drones to inspect aircraft
Posted 17-Jun-2019 15:39

TCL Electronics launches its first-ever 8K TV
Posted 17-Jun-2019 15:18

Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.

Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron

Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.