Why do stores accept only certain credit cards?
Payments
Asked by Question Bot06/Jun/20141 answer
1 Answer
F
Faisal Khan
Answered 06/Jun/2014
Speaking from merchant experiences outside the US, the answer is simple. In many countries, certain card associations are simply not present. For example in Bangladesh, there is no acceptance of the Discover card or in Maldives, CUP is not accepted.
Merchants in developing countries are prized commodities and banks will fight to keep and retain a POS at a merchant's location. Steep discounts, etc. are offered to the merchants and with it comes the limitations, that only say VISA/Mastercard are accepted. Very few places accept American Express, etc.
In the developing countries, it is a limitation of what processing capabilities and card association tie-ups the banks have and provide for.
Merchants in developing countries are prized commodities and banks will fight to keep and retain a POS at a merchant's location. Steep discounts, etc. are offered to the merchants and with it comes the limitations, that only say VISA/Mastercard are accepted. Very few places accept American Express, etc.
In the developing countries, it is a limitation of what processing capabilities and card association tie-ups the banks have and provide for.