Debit card spend overtakes Credit card spend in Australia

[Flashback]

Coles taps off Visa debit in transaction network tussle

Sends contactless debit down Eftpos Payments Australia pipes instead.

www.itnews.com.au

If this is to be believed, many more Australians these days are missing out on rewards and airline miles.

 

[Renato1]

Coles taps off Visa debit in transaction network tussle

Sends contactless debit down Eftpos Payments Australia pipes instead.

www.itnews.com.au

If this is to be believed, many more Australians these days are missing out on rewards and airline miles.

I suspect you are right - though technically they could still earn points if they made use of their Qantas and Virgin membership/debit cards of which there are millions around.

I'm wondering if the implication of the article - that many retailers will switch away from Mastercard and Visa - will ultimately affect their earnings, and consequently the points earned on their cards.
Cheers,
Renato

 

[VPS]

That's OK - the less people earning FF points the less they will be interfering with me getting good reward seats

 

[theblank]

Coles taps off Visa debit in transaction network tussle

Sends contactless debit down Eftpos Payments Australia pipes instead.

www.itnews.com.au

If this is to be believed, many more Australians these days are missing out on rewards and airline miles.

not quite. this same article says Credit Card spend is increasing.
"Ebstein said that while credit card spend was still growing in value – just – the number of debit cards now in the market and being issued was well ahead of credit cards."

What we are probably seeing is Cash payments being converted to Debit card payments.

 

[SeaWolf]

Maybe we'll start seeing more rewards transaction accounts. There's the Bankwest Qantas one and the HSBC 2% cashback one. Although I have to wonder if the HSBC one will pay the 2% on EFTPOS transactions, its T&Cs say "Visa payWave, Apple Pay or Google Pay" so there might be a few surprised shoppers at Coles.