Visa disappointed by debit card move by Woolworths

Visa says it is extremely disappointed with a decision by Woolworths to remove the credit option when paying with a Visa Debit card in any of the supermarket chain's outlets.

Visa said the supermarket giant was to route all debit transactions via the EFTPOS network to save costs and this will reduce competition.

Woolworths other stores include Dick Smith. The change will affect scheme debit cards issued by banks and credit unions that feature either the Visa or MasterCard logo and the word debit to differentiate them from credit cards.

Customers using these cards have had the option of using the credit button when making payments at Woolworths stores.

Customers will now need to press the cheque or savings buttons to access their funds through the Australian-owned EFTPOS network.

- AAP