MasterCard and Visa stop issuing the Maestro and V PAY debit cards, leading to problems for taxi operators in the Netherlands. Many payment terminals only work with the acceptance contracts of specifically these cards and must therefore be replaced. This is not the case with MyPOS terminals, the company says. “Nothing will change for taxi entrepreneurs who use myPOS.”
Dutch banks have in 2008 when phasing out ‘old’ debit cards, decided to replace them with Maestro and V PAY cards. Many Dutch entrepreneurs have therefore only had acceptance contracts for these payment products placed on their payment terminals. This also applies to some taxi companies.
Now that these debit cards are disappearing and most people worldwide use a Debit Mastercard and Visa Debit, these entrepreneurs are experiencing a problem. Customers who already have such a payment card cannot contact them because they do not accept it. To prevent customers from having to withdraw cash in order to pay, their payment terminals need to be replaced.
Conclude additional contracts Another option is for the entrepreneur to conclude additional contracts with his bank or manager of the acceptance contracts. Many Dutch entrepreneurs have already done this. They have concluded contracts for various credit cards such as MasterCard, Visa and American Express and alternative payment methods such as Payconiq. As a result, they can already accept the new products.
MyPOS states that users of their payment terminals do not will notice the phasing out of Maestro and V PAY or that non-Dutch customers will not be able to pay. “Our payment terminals have been equipped with all acceptance contracts for all worldwide payment methods from day one.” Soon the company will also make it possible to process a pin transaction for 0,02 euro cents.
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