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ghx16 t1_j1jylha wrote

Reply to comment by poke133 in U.S. orders Mastercard to stop blocking competing payment networks by HRJafael

You are a Costco member and don't know about their shenanigans when it comes to forms of payments they accept? In the U.S they don't take any MC, Amex or Discover credit card, in Canada is the other way around

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9-11GaveMe5G t1_j1kayq2 wrote

>You are a Costco member and don't know about their shenanigans

As another comment mentioned, it's not "shenanigans". Costco negotiates a lower credit card transaction fee in exchange for exclusivity. This results in savings that help keep prices down. And before you say they just pass on the cost, the vast majority of Costco profit is not from product sales, so the lower fee directly benefits members.

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ghx16 t1_j1kdl4v wrote

Oh don't worry I'm quite aware how things work at r/costco. I kept hearing wondering things about it left and right and ever since I became a member in 2019 they just keep removing more and more member benefits left and right without replacing them with anything else, the latest one is removing 2-year extended warranty from their citi credit card just this month

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poke133 t1_j1l809g wrote

> You are a Costco member and don't know about their shenanigans when it comes to forms of payments they accept?

took me a bit to understand this membership question. I was with a local who must've been and offered to pay in their place. we don't have Costco in my part of Europe.

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Chip89 t1_j1kptya wrote

Technically. They will take Apple Pay and or the debit portion.

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ghx16 t1_j1kqe8j wrote

Apple pay being a form of payment is irrelevant, I know they take mobile payments. Thing is they still won't take it if the credit card attached to your device is not a Visa credit card

For debit cards they take any payment network

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robotsquirrel t1_j1ljpan wrote

Apparently they took Discover at one point but then negotiated to use VISA. This is in-store. Online ordering I can use MasterCard.

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ghx16 t1_j1mt2w9 wrote

According to people at r/costco it was Amex before the current Citi Visa contract they have, not sure if it was Discover before that

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robotsquirrel t1_j1qzzcn wrote

I used Discover in California. They built one in Oklahoma that year and when I went to register for an account, it was Visa. Edit: Did a 10 second internet search and found that American Express and Discover are the same network, so yes, Discover was used before the current contract.

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ghx16 t1_j1ra2wq wrote

Are you talking about this?

>If you've got a card from American Express or Discover, then the card issuer and card network are one and the same company.

Because if that's what you're saying you're interpreting it wrong, what it means is that (unlike other banks) both Discover and AMEX are both the bank that issue their cards to customers as well as payment networks

I have been to many businesses (especially in other countries) where it's common that they take American Express but not Discover, and also the other way around here

But even then that information is not completely correct, I have a wells Fargo card issued by American Express gor example

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robotsquirrel t1_j1ratdg wrote

That's cool. It doesn't change the fact I used a Discover card in one state and a completely different one a year later at a brand new Costco.

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ghx16 t1_j1ree09 wrote

Well I can't find any info before 1999, which was the year Costco signed its exclusive agreement with American Express, so it was either before that year or you used a debit Discover card, since to this day Costco takes debit cards on any of those payments networks

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