The triumphal march of credit cards seems to be unstoppable. The practical little plastic cards have been on the rise for several years now. More and more users are discovering how helpful it is to simply pay with a credit card and thus be able to forego cash. So far, however, it has not been possible to pay for purchases by credit cards in certain shops.
Actually, it has always been an unwritten law. Both GFI and Good Credit seemed to agree that paying by credit card when shopping weekly was somehow not quite as appropriate. That has now changed, however, because it is now possible for customers to quickly go around the corner to the discounter without cash or an EC card and use their credit card at the checkout.
It is not yet possible to use the credit card in all markets
GFI will make it possible for its customers completely from July 2015. At Good Credit, it will take some time. In some markets, there is already the option to pay with NFC via mobile phone. However, this is still the exception so far. Good Credit guarantees customers until
September 2015 that credit card payments will then be possible anywhere. VISA and MasterCard are accepted as credit cards. This puts the discounters in the long line of providers, who have now also bowed to the power of the credit card and give customers more flexibility.
Of course, it is interesting for customers to know why discounters are actually taking this step. It’s not just about customer friendliness. If you open your credit card, you can demonstrably increase your sales.
The reason for the sudden change
For the customers, these changes of course sound positive for the providers. Anyone who has always been annoyed that there was still so much month left at the end of the money and that payments could not be delayed thanks to a credit card is now relieved. However, the question remains to what extent the fees for this change are actually being passed on to customers. After all, many people know that the cost of paying by credit card for business is not kept low.
However, the change in discounters has something to do with a special law. The EU regulatory procedure will come into force on December 9, 2015. This means that the interchange is now only 0.3 percent. This is the cost that a provider has to bear when the customer pays by credit card.
So far, these have been 1.7 percent. It is understandable that the providers have decided against offering credit card payments. With the change of the interchange, the costs and benefits for the discounters have probably moved in a different ratio. Fees still have to be paid, but they are particularly small compared to the possible increase in sales due to the introduction of credit card payment.
What exactly the discounters now expect from the offer of these payment methods is not entirely clear. The fact is that customers can now use their credit cards.
So far, however, there has been no public opinion on these changes in payment modalities. Whether it is really worthwhile to offer payment by credit card for weekly shopping will only become clear after a few months, and then the time will come when the providers will take stock and comment on what payment card payment really means to them brought.