Most shops in the Netherlands work with maestro of mastercard and vpay of Visa. It is directly linked to our bank credit and has low transaction fees. Maestro and vpay is accepted all over the world. We work directly with IBAN numbers and not with credit card types like mostly in the world.
Normal Mastercard/visa credit don’t work here since shops have to pay way higher transaction fees while almost nobody uses them.
It will be phased out though in 2023 to Mastercard debit and visa debit so likely in the future Netherlands payment system will be more aligned with what other countries use.
That it erodes the position of EU banks in favor of Visa and Mastercard. I have no problem with them facilitating the tech, but I do have a problem with them usurping the position of the banks. The EU is already too dependent on the United States in this manner, no need to make it worse.
Normal Mastercard/visa credit don’t work here since shops have to pay way higher transaction fees while almost nobody uses them.
https://en.m.wikipedia.org/wiki/Maestro_(debit_card) https://en.m.wikipedia.org/wiki/V_PayPlease
It will be phased out though in 2023 to Mastercard debit and visa debit so likely in the future Netherlands payment system will be more aligned with what other countries use.