Is the Mastercard a credit or debit card?

New-Yellow-Coati-3019970924

Jakob Can you share link where to read about Maestro leaving next year? Is this Netherlandish-level or it’s bunq decision?

Jakob-Y

Roman Mastercard decision, all over EU. https://www.mastercard.com/news/europe/en/perspectives/en/2021/blog-from-valerie-nowak-why-this-maestro-is-retiring-after-30-years/

New-Raspberry-Skunk-2371799330

Kan ik wel mobiel pinnen bij de winkel?

thijsoost

Theodorus Gerardus Maria Yes, you can add your cards to Google Pay or Apple Pay.

New-Raspberry-Skunk-2371799330

Dat heb ik gedaan maar bij de supermarkt werkt het niet

Bastiaan

Theodorus Gerardus Maria In Nederland worden in de meeste winkels en supermarkten enkel Maestro en V-Pay kaarten geaccepteerd, niet Mastercard (Credit).

Filipe-Purple-Lion

If I want to rent a car, can I use this card as credit card for the rental?

Jakob-Y

Filipe Sure. Just make sure that there is enough money on your connected account to cover for the payment and the full deposit. The payment won't go through otherwise.

thijsoost

Filipe Maybe it's good to mention that some companies at some places don't accept the bunq Mastercards, although they should. More info here: https://together.bunq.com/d/45349-easily-rent-a-car-with-your-bunq-credit-card

AlexFL

So all Dutch merchants are going to be accepting Debit Mastercard/Visa in the near future because of the retirement of maestro/v-pay. Most acquirers are currently updating the terminals to accept them. Since Bunq started labeling their cards as creditcards, these will not work in all those stores that decide not to accept creditcard payments because of the different fee vs maestro & Debit Mastercard/Visa.

Damn!

thijsoost

Alex 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.

Bastiaan

Thijs 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.

thijsoost

Bastiaan Oh really? Didn't know that!

AlexFL

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.

pqckmqn

Alex 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.

AlexFL

Markus 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..

New-Green-Aoudad-596112410

Thijs wieso nicht? Man kann doch ins minus gehen

Jakob-Y

Eugen 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.

pqckmqn

Alex 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.

thijsoost

Alex Please keep it friendly here, thanks!

AlexFL

Markus Okay jeez https://www.rabobank.nl/bedrijven/betalen/klanten-laten-betalen/rabo-omnikassa/rabo-pinbox
See “transactiekosten”.

Worldline/sepay same story.. It’s at least 1,25% with a minimum of 25cts for cards issued in the EU, 2,5% for cards outside EU or business cards. Plenty of reasons for merchants to keep blocking these methods, since maestro, mc/vs debit will remain fixed at 0,06-0,10.