The solution means that it will still not be necessary to press the terminal before each card payment.
The short version
Table of Contents
- Visa and BankAxept have agreed on a solution to the carpet dispute.
- Information on the choice of payment method will become clearer.
- It will not be necessary to press the terminal before each payment if you do not wish to override.
- The parties see that both will benefit from some calm after the heated debate.
The summary is made by the AI tool ChatGPT and quality assured by E24’s journalists
In October, E24 wrote about a move by the payment giant Visa, which was met with a strong reaction from the Norwegian competitor BankAxept.
Visa wanted you and I to have to choose a payment service every time we “cover” the card. Today, it is the store that chooses for us, and they usually choose BankAxept as it is a more affordable service.
Visa referred to EU rules which state that consumers must have the opportunity to choose for themselves. It is currently possible by pressing the yellow button on the terminal, but this is a solution that the Norwegian Financial Supervisory Authority has stated is not good enough.
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BankAxept, for its part, also argued with EU rules and referred to the provision which states that the store must be able to have a preferred choice.
Now the two players have come to an agreement.
The new solution does not involve any forced choice before each card payment. If you do not wish to override the store’s preference, just apply as usual.
At the same time, it should be easier to make an active choice. There must be clear information on the screen about this possibility. The “yellow button solution” was, as Finanstilsynet has pointed out, not known to very many people.
Easier to change
– We are very satisfied with this solution, which means that both the store and the cardholder’s rights are safeguarded in line with the regulations. And then the slightly heated debate can find its calm, says Øyvind Westby Brekke to E24.
He is the boss of Stø, the company behind BankAxept.
– Visa has probably been looking to increase its market share. Do you fear that they will succeed with the new solution?
– I don’t want to speculate on what their motives are. But Visa is right that the consumer’s right to override the store’s choice has not been implemented well enough. Then we just have to compete well enough for shops and consumers to prefer BankAxept.
Bente Irene Josefsen, Norwegian head of Visa, says in a press release that she is satisfied with the solution, which makes it “much easier for customers to switch between payment brands”.
– It strengthens Norwegian consumers’ ability to choose how they want to pay.
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The Norwegian group took sides
To understand why the conflict arose, one must know how Norwegian payment cards work. A typical Norwegian bank card is equipped with two systems, Visa and BankAxept.
Visa is the global giant with the world’s largest payment network.
BankAxept is Norway’s national card network, developed by the country’s banks, which is cheaper for the store.
According to Virke, a Visa payment costs around five times more than BankAxept. Therefore, the trading giant Norgesgruppen also took sides in the matter.
– The solution that Visa wants is negative for our customers. It is both more expensive and more cumbersome. We support Norwegian BankAxept, which is simpler and cheaper, said communications director Stein Rømmerud to E24 in October.
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