EFTPOS Strikes First Major Blow to V/MC with Woolworths Deal

Woolworths dumps Visa, MasterCard debit



By Liz Tay: Apr 1, 2010 11:30 AM

Move to EFTPOS to save “millions”.



According to CRN (Australia) "Woolworths has announced that it would no longer accept payments through the Visa Debit and Debit MasterCard networks."

From 15 April, the change would be introduced progressively across Woolworths Group stores, including Big W, BWS, Dan Murphy's, Dick Smith, Tandy, Thomas Dux and ALH, as well as Woolworths and Safeway supermarkets, liquor stores and petrol outlets.  The move would require customers with the so-called 'scheme debit' cards to use the card's cheque or savings option, instead of credit, to access their funds at check-out counters.  By routing debit transactions through EFTPOS rather than Visa and MasterCard, Woolworths hoped to lower its fees and cost pressures from banks.  A Woolworths spokesperson told CRN that savings would be "in the millions".

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