Visa Debit
Visa Debit is a major brand of debit card issued by Visa in many countries around the world.
Contents |
[edit] Europe
_logo.svg){kind=logo} |
 |
|
|
The old Visa and Delta logos.
|
||
In the European Union,[1] prior to October 2004, the debit card was known as Visa Delta. The cards are issued by numerous large banks, and also used by many smaller banks and building societies. The card can be used just like a Visa credit card. Retailers in some countries can however accept the card as a debit card rather than a normal Visa card.
[edit] History
Visa Delta (then branded "Connect" by Barclays) was the first debit card in the UK, being introduced by Barclays in June 1987 shortly before NatWest released their "Switch" card in October 1988.[2]
[edit] United States and Canada
Numerous banks issue Visa-branded debit cards linked to accounts. Some issuing banks call their cards "Visa check cards", [3] Cards allow for purchases at any merchant where any type of Visa card is accepted. Transactions are processed one of three ways. A signed transaction is processed through the regular Visa credit network.[3] PIN-based transactions, including ATM withdrawals, are processed through the Visa-owned Plus and Interlink networks.[3] Many retailers allow cash back with PIN-based transactions. Also, in line with other credit and debit purchases, transactions under $25 are exempt from requiring signatures or PINs.[3]
[edit] Market competition
The competitors to Visa Debit in the debit card market are Maestro and Debit MasterCard debit cards.
[edit] References
|
||||||||||||||||||||||||||||||||
