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Subject:  Re: PIN-based POS v. Check Cards Date:  6/13/2002  2:01 PM
Author:  SeattleNative Number:  17141 of 24357

Highlights from another story - this will REALLY underscore just how much of a horrid rip-off VISA and MasterCard check cards are compared with PIN-based POS debit:

"Banks like the Visa and MasterCard debit cards because they make more money from them.

"In the suit, the plaintiffs say that processing Visa and MasterCard debit cards like credit cards costs $1.49 per $100, compared with nine cents for conventional, online debit cards, which are processed instantaneously after a consumer enters a personal identification number, the report said.

"It added that retailers say they're forced to pay billions of dollars a year in extra processing charges, costs that are passed on to their customers. Officials from Visa and MasterCard were not immediately available for comment."

The complete story is at
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