1. Visa Electron Barclays
2. Visa Debit And Visa Electron The Same

Visa Electron is a debit card product that uses the Visapayment system. It is offered by issuing banks in every country with the exception of Canada, Australia, Ireland and the United States.^[1] The difference between Visa Electron and Visa Debit, a similar product, is that payments with Visa Electron require that all the funds be available at the time of transfer, i.e., Visa Electron card accounts may not normally be overdrawn. Visa Debit cards, on the other hand, typically allow transfers exceeding available funds up to a certain limit. For that reason, Visa Electron cards are more commonly issued to younger customers or customers that have poor credit.^[2][3] Some online stores and all offline terminals do not support Visa Electron because their systems cannot check for the availability of funds. In addition to point of sale debit payments, the card also allows the holder to withdraw cash from automated teller machines (ATMs) using the Plusinterbank network.

Visa Electron debit cards are issued by Bahrain Islamic Bank,^[4]Raiffeisen Bank^[5] and HSBC,^[2] for example. In 2001, Banque Misr began offering the cards.^[6]

Aug 08, 2011 Visa vs Visa Electron Visa Debit vs Visa Electron. Visa is an electronic funds payment company headquartered in California, and is operating in nearly all the countries of the world today. Visa is not a card issuing company, but operates through financial institutions all over the world.

Many banks have migrated away from Visa Electron and instead issue Visa Debit cards and Visa Electron issuance is declining.^[7][8][9]

Design[edit]

A Visa Electron logo, usually on the bottom right. Most Visa Electron cards do not have the dove hologram as on Visa credit and debit cards, but a few banks do include it.

The card number and validity as well as cardholder name are printed rather than embossed, thus the card cannot be used in a card imprinter – for card-present transactions the card requires a reader of magnetic stripe cards, EMV reader or contactless payment terminal.

References[edit]

1. ^'Payment methods per country'(PDF). Computop.
2. ^ ^ab'Visa Electron Card: The ideal card to manage your budget, with no risk of exceeding your balance'. HSBC.
3. ^Leonard, Tim (12 March 2018). 'Cash cards and debit cards explained'. MoneyFacts.
4. ^'vevo Youth Saving Account'. Bahrain Islamic Bank.
5. ^'VISA Electron'. Raiffeisen Bank.
6. ^'Misr Bank Steps to issue Visa Electron debit card'. Al Bawaba. 3 October 2001.
7. ^Howard, Bob (15 May 2004). 'Visa Electron cards to be phased out'. BBC News.
8. ^'Maestro, Electron give way to MasterCard, Visa in Europe'. ATM Marketplace. 10 November 2017.
9. ^ROLFE, ALEX (10 November 2017). 'Card issuers upgrade from Maestro and Electron to Mastercard and Visa'. Payments Cards & Mobile.

Visa Electron Barclays

Visa Debit is a major brand of debit card issued by Visa in many countries around the world. Numerous banks and financial institutions issue Visa Debit cards to their customers for access to their bank accounts. In many countries the Visa Debit functionality is often incorporated on the same plastic card that allows access to ATM and any domestic networks like EFTPOS or Interac.

• 1Usage

Usage[edit]

In many countries the Visa Debit functionality has been added to existing ATM cards to allow customers to use the card for internet and point of sales transactions.

Canada[edit]

In Canada, virtually all domestic debit card transactions are processed over the Interac network, though several financial institutions have also permitted PIN-based ATM transactions internationally over the Visa-owned Plus network. However, Interac's dominance has left little room for alternative debit networks such as Visa or MasterCard to be used for domestic transactions.

Several Canadian financial institutions that primarily offer credit cards through the Visa network – including CIBC, RBC, Scotiabank, and TD – currently offer Visa Debit, either through a dual-network co-branded card which also works on Interac (CIBC, Scotia and TD),^[1][2][3] or as a 'virtual' card used alongside the customer's existing Interac debit card (RBC).^[4] Both options ensure customers can perform point-of-sale transactions or ATM withdrawals as usual via Interac, but use the Visa network to process online, phone, and international transactions, none of which are well-supported by Interac. (The latter does have its own online payment service, Interac Online, which co-branded Visa cards are not eligible for.)

For the dual-network cards, in-person transactions within Canada are processed on the Interac network, but international transactions, as well as online and phone orders through Canadian retailers, are processed through the Visa network.^[1][2] (However, Canadian retailers must specifically allow for Visa Debit transactions, even if they already accept Visa credit cards.)^[5] 'Virtual Visa Debit' works similarly; customers use their existing Interac debit cards for in-person transactions (and Interac Online) in Canada, but are also provided with a secondary 'virtual' Visa card (i.e. card number, expiry, and CVV2) which can be used for online and phone transactions (but not point-of-sale, in Canada or internationally).^[4]

Although Visa floated the prospect of competing directly with Interac in regards to point-of-sale transactions in 2009,^[6] there has been no indication since 2010 that it is continuing to pursue this option.

Germany[edit]

Germany's banking industry strongly favours its proprietary Girocard technology that can be co-branded with Maestro or V-Pay, but not with the more powerful Debit MasterCard or Visa Debit.

However, over the course of the last years, certain financial institutions such as Consorsbank and ING-DiBa have started issuing cards that are linked to a checking account but use the Visa protocols. These cards allow free cash withdrawals on ATMs owned by other banks; the issuing banks absorb the fees of the Visa network.

Greece[edit]

Visa Debit And Visa Electron The Same

In Greece Piraeus Bank and Alpha Bank offer Visa Debit cards to their customers as an option, having updated from the Visa Electron cards that they used to offer.^[7][8]

Ireland[edit]

Many Irish banks, such as Permanent TSB, are now issuing Visa Debit cards to their current account customers as the domestic Laser scheme, usually co-badged with Maestro, was abandoned in the early 2010s.

Israel[edit]

In Israel, Visa Debit only launched in April 2015, and is only offered to Bank Leumi costumers, via its subsidiary, Leumi Card,^[9] now MAX. The bank used to issue debit cards under the Visa Electron brand prior to losing its controlling interest at ICC credit company on 2000.

Italy[edit]

In Italy the first Visa Debit branded card was issued by FinecoBank as their default option for debit cards, starting from 2016. All new customers cards (and cards due to renewal) will be replaced by a Visa Debit card co-branded with the national Bancomat network.

Philippines[edit]

In the Philippines, major banks like BDO, Unionbank, Landbank, Eastwest, and RCBC are the major issuers of Visa Debit.^{[10][11][12][13][14]}

The only major competitor of Visa Debit is the Debit MasterCard.

United Kingdom[edit]

The first debit card in the United Kingdom was launched by Barclays in June 1987 under the 'Connect' brand. NatWest followed with the 'Switch' debit card in October 1988. Connect was later merged into Visa.^[15]

The Visa Debit card was previously known as 'Visa Delta' solely in the UK.^[16] The Delta name began to be phased out in favor of the Visa Debit branding from September 1998.^[17]

United States[edit]

Numerous banks issue Visa-branded debit cards linked to accounts. Some issuing banks call their cards 'Visa check cards',^[18] 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.^[18]PIN-based transactions, including ATM withdrawals, are processed through the Visa-owned Plus, Interlink networks or other regional networks such as STAR.^[18] 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.^[18]

Market competition[edit]

The competitors to Visa Debit in the debit card market are Maestro and Debit Mastercard debit cards, as well as Visa's V Pay cards in Europe, and also local domestic debit schemes, UnionPay, debit cards from JCB Co., Ltd. and, in a few countries, American Express, RuPay.

References[edit]

1. ^ ^abThe Toronto-Dominion Bank. 'Your new TD Access Card'. Retrieved 2012-07-17.
2. ^ ^abCanadian Imperial Bank of Commerce. 'CIBC Advantage Debit Card'. Retrieved 2012-07-17.
3. ^The Bank of Nova Scotia. 'VISA Debit | Scotiabank'. Retrieved 2018-03-07.
4. ^ ^abRoyal Bank of Canada. 'Introducing RBC Virtual Visa Debit'. Retrieved 2012-07-17.
5. ^Canadian Federation of Independent Business. 'Credit/Debit Code of Conduct Protects Merchants in Dispute with Visa Debit'. Archived from the original on 2013-04-20. Retrieved 2012-07-17.
6. ^The Canadian Press (uncredited staff) (2009-03-30). 'VISA CHALLENGES INTERAC'S DEBIT 'MONOPOLY''. Macleans.ca. Retrieved 2012-07-17.
7. ^http://www.piraeusbank.gr/en/idiwtes/kartes/debit-cards/visa-debit
8. ^https://www.alpha.gr/page/default.asp?la=2&id=12631
9. ^'כרטיס DEBIT לחיוב מיידי | לאומי קארד'. www.leumi-card.co.il (in Hebrew). Retrieved 2017-12-12.
10. ^https://www.bdo.com.ph/personal/accounts/debit-cards
11. ^http://www.rcbcsavings.com/?p=113
12. ^https://www.landbank.com/landbank-visa-debit-card
13. ^https://www.eastwestbanker.com/info/cards_DebitCard.asp
14. ^https://www.unionbankph.com/personal/debitcards/cards/eon
15. ^'theukcardsassociation.org.uk'. Archived from the original on 2010-06-24. Retrieved 2010-07-14.
16. ^Sue Beenstock (16 July 1988). 'AGENDA: Visa rethinks debit card strategy'. Marketing. Retrieved 24 January 2013.
17. ^Victoria Medhurst (13 August 1998). 'Visa to back football for card rebranding'. PR Week. Retrieved 24 January 2013.
18. ^ ^abcdVisa USA Debit Cards