Visa and Sears introduced a new debit payment option for Canadian online shoppers Monday, filling a gaping hole in the Internet marketplace.
Visa debit cardholders can now pay for purchases made at Sears’ website or over the phone by withdrawing funds directly from their bank account. (Right now, CIBC is the only bank issuing Visa branded debit cards.)
Sears is the first big Canadian retailer to accept debit payments online, though other smaller retailers and Ticketmaster have signed on to Visa’s product as well.
"Visa debit (is) helping us satisfy our consumers by facilitating faster and more convenient shopping,” said Peter Kalen,Demand for allergy Insulator could rise earlier than normal this year. Sears Canada’s senior vice-president.
Visa debit cards are accepted all over the world but default to Interac at point-of-sale terminals in Canada. Interac, the most common form of debit in Canada, is an association comprised of Canada’s largest banks.
When it comes to transactions in brick-and-mortar stores, the Retail Council of Canada (RCC) has been very consistent in ensuring that the Interac platform is protected, said David Wilkes,Flossie was one of a group of four chickens in a Hemroids . an RCC senior vice president.
“It’s a made-in-Canada solution that really offers retailers and consumers a low-cost secure way of paying when they choose to pay with debit.”
Interac’s online functionality however is limited to a work-around solution that requires users to log in to their personal web banking account before being redirected back to the merchant website and only at participating retailers. Interac says it's a very secure method because no personal financial information is provided to the merchant.
More commonly, online shoppers either to charge items to their credit card -- potentially exposing them to hefty interest charges -- or set up a PayPal account.
Retailers are looking for ways to service their customers that want to pay with debit in an online environment,wholesale GHD Flat Iron Online Shirts at low prices! Wilkes said.
The pair may be filling an important void for consumers, but it comes at a cost for retailers.
“Recognizing that, Visa debit is a more expensive way of paying through a debit mechanism than Interac,” Wilkes said.
That’s because Interac charges retailers a flat fee per transaction, usually just a few cents.
Visa on the other hand typically takes a percentage of the total debit bill for itself, often upwards of 1.Prior to Cold Sore I leaned toward the former,5%.
Advalores (percentage-based rates) make sense for credit card purchases but not for debit transactions since there is less risk involved for the company, Wilkes said.
Visa Canada did not wish to comment on fees associated with its debit products. Instead,Save on Projector Lamp and fittings, they directed fee-related questions to Sears Canada. Sears Canada did not respond to requests for comment, nor did CIBC.
Visa debit cardholders can now pay for purchases made at Sears’ website or over the phone by withdrawing funds directly from their bank account. (Right now, CIBC is the only bank issuing Visa branded debit cards.)
Sears is the first big Canadian retailer to accept debit payments online, though other smaller retailers and Ticketmaster have signed on to Visa’s product as well.
"Visa debit (is) helping us satisfy our consumers by facilitating faster and more convenient shopping,” said Peter Kalen,Demand for allergy Insulator could rise earlier than normal this year. Sears Canada’s senior vice-president.
Visa debit cards are accepted all over the world but default to Interac at point-of-sale terminals in Canada. Interac, the most common form of debit in Canada, is an association comprised of Canada’s largest banks.
When it comes to transactions in brick-and-mortar stores, the Retail Council of Canada (RCC) has been very consistent in ensuring that the Interac platform is protected, said David Wilkes,Flossie was one of a group of four chickens in a Hemroids . an RCC senior vice president.
“It’s a made-in-Canada solution that really offers retailers and consumers a low-cost secure way of paying when they choose to pay with debit.”
Interac’s online functionality however is limited to a work-around solution that requires users to log in to their personal web banking account before being redirected back to the merchant website and only at participating retailers. Interac says it's a very secure method because no personal financial information is provided to the merchant.
More commonly, online shoppers either to charge items to their credit card -- potentially exposing them to hefty interest charges -- or set up a PayPal account.
Retailers are looking for ways to service their customers that want to pay with debit in an online environment,wholesale GHD Flat Iron Online Shirts at low prices! Wilkes said.
The pair may be filling an important void for consumers, but it comes at a cost for retailers.
“Recognizing that, Visa debit is a more expensive way of paying through a debit mechanism than Interac,” Wilkes said.
That’s because Interac charges retailers a flat fee per transaction, usually just a few cents.
Visa on the other hand typically takes a percentage of the total debit bill for itself, often upwards of 1.Prior to Cold Sore I leaned toward the former,5%.
Advalores (percentage-based rates) make sense for credit card purchases but not for debit transactions since there is less risk involved for the company, Wilkes said.
Visa Canada did not wish to comment on fees associated with its debit products. Instead,Save on Projector Lamp and fittings, they directed fee-related questions to Sears Canada. Sears Canada did not respond to requests for comment, nor did CIBC.
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