Most Dutch consumers have used Maestro and V PAY payment cards for years. These are slowly being replaced by the banks for the new Debit Mastercard and Visa Debit cards. This means that, as a business owner, you will increasingly have customers who want to pay with these new cards. On this page, we explain why it is so important to accept Debit Mastercard and Visa Debit and how you as a business owner can take full advantage of these new payment methods.
What are Debit Mastercard and Visa Debit?
Debit Mastercard and Visa Debit are the successors to the well-known Maestro and V PAY payment cards. Whereas Maestro and V PAY were mainly intended for payments in physical shops within Europe, the new cards offer consumers the possibility to pay both worldwide and online. This makes paying with a debit card more flexible and user-friendly. These cards are debited directly from consumers' bank accounts, just like Maestro and V PAY.
Important for your business
A large number of consumers have already received or will receive a Debit Mastercard or Visa Debit in the next few years. So chances are your customers will want to pay with one of these cards. By accepting them, you assure yourself that you are not missing out on potential sales.
These cards are also extra appealing because they can also be used online, which has become increasingly important for consumers. By accepting Debit Mastercard and Visa Debit, you ensure that customers can use their favourite payment method both in-store and online. Even if you have an international customer, he or she can pay as usual.
With wider acceptance and greater flexibility, debit card acceptance also brings increased consumer protection rights in the form of Chargebacks. Chargeback rights for debit and credit cards are identical. The most significant change resulting from this migration is the expanded chargebacks rights for Point-of-Sale transactions compared to V PAY and Maestro. Its important that you familiarise yourself with the chargeback rules and understand their obligations. As a result, chargebacks are expected to increase across the Dutch payment landscape.
The benefits of full acceptance
Accepting both Debit and Credit Mastercard and Visa offers your business a number of important benefits:
- Broad coverage
With the new Visa Debit and Debit Mastercard cards, consumers can pay both in physical shops and online, regardless of whether they are local or international. You offer customers the flexibility to pay using their preferred payment method. This way, you prevent people from shopping elsewhere.
- Increasing demand
Consumers are already using the new cards and expect them to be accepted everywhere. By accepting both credit and debit cards, you respond to this growing demand and everyone can pay with you without any problems.
- Cost-effective
Accepting Debit Mastercard and Visa Debit does not cost extra; you are only charged a transaction fee when making a payment. For credit cards, you only pay transaction fees when a credit card payment is actually made.
Ready for full acceptance: a complete payment experience
By accepting both Visa Debit and Debit Mastercard, you offer your customers a complete payment experience. Customers expect more and more flexibility in payment options, and with the emergence of these new debit cards, you can meet this expectation. This increases your chances of higher customer satisfaction and even more turnover, because you do not miss out on payments due to limited payment options.
With full acceptance, you are fully prepared for the payment future. All Visa and Mastercard products, both debit and credit, can be used by your customers - without any extra hassle or cost.
Prepare your business for the new payment standard and make sure your customers can always come to you, wherever and however they want to pay.
