Comments on: Visa Wastes Both Time and Money

By: GaudencioS. Pajares, Jr.

GaudencioS. Pajares, Jr. — Sun, 21 May 2006 12:46:12 +0000

Beneficial to the insider syndicate not to Visa Co. and individual member.

By: Darren

Darren — Thu, 03 Mar 2005 01:48:24 +0000

QT (Quik Trip), a major gas station chain, has implemented the $25.00 or less rule for several months now. I agree, it appears Visa is foolishly inviting a multitude of nickel and dime fraud. Are bankruptcy filings down? Maybe Visa needs to pad their write-offs.

Along the same line, what is the protocol for signing when you validly use someone else’s credit card (parents, boss, friend)? Your name or theirs? I’ve done both, as it seems not to matter.

Ultimately, fraud is reduced when the clerk verifies the signature and name on the card against other id (which they rarely do). If Visa is merely trying to create a more convenient transaction for the card holder, then I’m all for them investing in making a magnetic strip that lasts until the card expiration date.

By: Clay

Clay — Wed, 02 Mar 2005 00:11:47 +0000

You’re right, it’s a stupid idea. Maybe what they’re trying to get at is that you’ll be able to charge things without taking your card out of your wallet? If they were to supply new machines and new cards to people, then they could almost force people to use their Visa card by virtue of having the machine automatically detect it. However, like you say, it’s a crap idea.

On the other hand, I would argue that it is better to see people try to innovate than to rely on old technology. What I would love of this technology is to see it installed in laundromats, so that I could do my laundry without putting frickin’ quarters in the machines, and without getting a card out.