By Patrick Avenell
The developing feud between Visa and American Express over which credit cards retailers should accept and preference has taken a twist, with EFTPOS managing director Bruce Manfield today contacting Current.com.au to say that there options available to Australian consumers and merchants that offer both speed of payment and low service fees.
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“Surely there’s enough room in the market for all players to compete,” Mansfield said. “It’s better for consumers and merchants to have a competitive industry with real choice regarding cost of acceptance, speed of payment and security, rather than limiting payment options.”
The explosive war of words between the giants of the credit card industry began yesterday when Visa Australia country manager Vipin Kalra launched a campaign encouraging retailers to discontinue accepting American Express cards. Amex hit back today, questioning the validity of Kalra's claims while highlighting the increasing popularity of American Express cards amongst consumers.