EU Antitrust and Cash Back Programs?
Oct 4, 2019 | 3:02 pm
#1
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EU Antitrust and Cash Back Programs?
I read that some Taiwanese banks are stopping cash rebates for charges made at EU countries starting 1/1/2020 because some EU anti-trust lawsuits against Visa and/or Mastercard. Anyone know what the deal is?
Thanks.
Thanks.
Oct 4, 2019 | 3:08 pm
#2
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Perhaps the fees collected from merchants in the EU are no longer sufficient to support the fees. Can you post a link to the article?
Oct 4, 2019 | 5:43 pm
#3
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It looks like cash rebate cards are common in Taiwan. I also can't find an article specifically excluding EU transactions from the rebate, but what is funny is this HSBC one pays more on overseas transactions.
https://www.hsbc.com.tw/en-tw/credit...ack-signature/
https://www.hsbc.com.tw/en-tw/credit...ack-signature/
Oct 4, 2019 | 11:16 pm
#4
Join Date: Dec 2010
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With only 0.3% interchange, someone is getting a really bad deal when I use my American 2.5% cash back card to buy groceries every week.
Oct 4, 2019 | 11:41 pm
#5
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Here is the newspaper article (in Chinese): https://money.udn.com/money/story/5617/4085052 - it does seem to be what you guys are thinking. I wonder if this will spread to cards issued in other countries (e.g. Citibank Costco Visa)...
Nov 6, 2019 | 6:48 pm
#6
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Now with the prevalence of no FTF available, even with no AF, it is still a game of averages. Even in the US, large merchants and certain types pay a much different interchange fee (below 2%) versus other merchants.
I have never seen a US issuer close a customer because of it, but I guess it is possible. It seems like the dream to have a great US card to use in EU, but I suspect it is still a small number who can profit so much.
I have never seen a US issuer close a customer because of it, but I guess it is possible. It seems like the dream to have a great US card to use in EU, but I suspect it is still a small number who can profit so much.
Nov 8, 2019 | 6:04 pm
#7
Join Date: Jun 2012
Posts: 3,700
It looks like cash rebate cards are common in Taiwan. I also can't find an article specifically excluding EU transactions from the rebate, but what is funny is this HSBC one pays more on overseas transactions.
https://www.hsbc.com.tw/en-tw/credit...ack-signature/
https://www.hsbc.com.tw/en-tw/credit...ack-signature/
too bad high annual fees
https://www.valuechampion.sg/best-cr...rseas-spending