Maestro is retiring

Maestro is on the way out, so it probably won’t be much of an issue soon!

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It will still take some years until you can pay with MC/Visa everywhere here in Belgium. And until then, I have to use Maestro too. Good news though.

Until Belgians start boycotting those places where Visa/Mastercard are not accepted, nothing will change. They are not accepted because the storekeepers are cheapskates and don’t want to pay the fees. Those jerks are happy to take your money, but not so happy to accept the inherent costs of doing business. You must force them to change, by taking your business elsewhere.
Any store that doesn’t accept normal credit/debit cards in 2022 doesn’t deserve to be in business.

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This will always be a discussion if you also look at it from the merchant’s perspective. I’ve done online business in the past, and when margins are slim, paying about 3-4% to MasterCard / Visa is just killing. It’s a lot!!!

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It would be funny if Belgium switched to Visa electron cards now after maestro will be defunct. :joy:
Just to be different from rest of the world, you know :smiley:

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Nah. If they didn’t kill the tens of thousands of merchants who accept proper cards in the rest of Europe, they won’t kill them in Belgium.
It was the same in Germany ten years ago. Almost nobody took proper credit/debit cards, they were all whining about how the fees would kill them, blah blah blah… And yet they’re still alive and happy to accept them now.
Next time you’re in a store that doesn’t take your Visa or Mastercard, you should clearly express your disappointment, then leave the place without buying anything. Nothing will change until people start doing this.

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I think you have a skewed idea how much card processing fees are. I’m admittedly not in Belgium, for my own business I pay for accepting UK and EEA issued Mastercard and Visa 0.8% and for non-European cards 2.42%. For some reason only Amex thinks they are worth 3.95%, therefore I refuse to accept their cards. I’m a small sole trader, supermarket chains can get better rates (especially if you get different rates for debit and credit cards).
Handling cash is certainly not cheaper if you have a business account.

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In reality merchants pass processing fees to their customers (include in to product prices), so not sure what the big fuss is about.

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Exactly!

Add 3-4% to your listed selling price.
Problem solved!

How else do you expect people to actually buys goods. Maestro is going to be dead in May. Anybody who has a Maestro card will find it replaced with a non-Maestro card at next expiry. If the card gets lost or stolen, it will also be replaced with a non-Maestro card.

Very quickly, you are into a situation where very few people still have Maestro cards.

To operate a Maestro-only business in that scenario would be madness.

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I was hoping to see a Visa debit card with Revolut and supporting V-pay too, but since Maestro is retiring that’s no longer needed. :smiley:

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That’s right - practically speaking, with Maestro being phased out now, V Pay is also being dumped without Visa even needing to announce it!

Once you can’t rely on the Maestro and V Pay duopoly, you have no choice as a merchant but to support proper Visa and Mastercard cards of all types.

The irony is that a Visa country manager said in an interview long before Mastercard that Visa is going to retire Vpay soon, and that they’re in talk with issuing partners about this change. The guy no longer works for Visa, and it seems like this doesn’t have priority for them, but they did talk about it publicly even before Mastercard.

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If Visa delays the retirement of V-Pay much longer (lets say 2+ years) then banks in the ‘common’ Maestro countries (NL for example) might switch to V-pay initially as temporary solution before switching fully to Mastercard of Visa debit.

Rabobank (NL) was one of the first banks announcing their switch to Visa Debit which was supposed to happen in second half of this year, but so far no updates on that probably due to merchant issues as they need to all upgrade their POS terminals to accept Visa debit.

If this get more delayed chances are that the smaller banks switch to V-Pay.

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