Visa chief jumps ship to EFTPOS
(8 April 2010 – Australia) Bruce Mansfield, Visa International executive, has given up fighting the RBA on its tough changes to credit card interchange fees, instead opting to take the top position with rival, EFTPOS Payments Australia Ltd (EPAL).
Mr Mansfield has spent years reminding consumers of the benefits of credit cards over ETPOS, he also played a major role in the development of rewards programs and e-commerce initiatives, driving consumer uptake for more debt, the Herald Sun reported.
Mr Mansfield will have to change his tune in June when he begins his role as chief executive officer for EFTPOS Payment Australia Ltd.
Over the last few years the RBA has regulated credit cards schemes that led to fee changes which boosted the appeal of debt card transactions via the EFTPOS network and lowered merchants appeal for credit cards.
Most recently the major retailer Woolworths announced their decision to route all debit transactions via the EFTPOS network to avoid fees attached with credit cards.
Mr Mansfield will have to change his tune in June when he begins his role as chief executive officer for EFTPOS Payment Australia Ltd.
Over the last few years the RBA has regulated credit cards schemes that led to fee changes which boosted the appeal of debt card transactions via the EFTPOS network and lowered merchants appeal for credit cards.
Most recently the major retailer Woolworths announced their decision to route all debit transactions via the EFTPOS network to avoid fees attached with credit cards.
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