Swipe it: 7-Eleven to accept credit cards

[cpofc]

Goodbye fast an efficient lines ... Hello 30 minutes to buy a liter of water.

And hello insane interest rates for the people least able to afford them.

The 2% - 3% Visa charges will now be passed along as higher prices.

Why?

Because what has worked perfectly for decades needs to be "improved" so a gigantic Foreigner company can get a percentage of sales.

Borrowing money should be for items one most can not readily afford in one lump sum, a car, a house, a boat. Not a candy bar.

Do you really think a huge Japanese retailer is going to pay 3%?

How about people that pay off their card every month and get benefits such as cash back or airline miles?

You are thinking like a skint dinosaur

No ... I am thinking like an honors graduate in Finance who spent 6 years in the credit card industry, including risk / fraud analyst.

The rate charged for the use of credit cards is universal and all retailers pay it.

OK, now you know my credentials .. may I ask .. what are yours?

You have a big misunderstanding if you think all retailers pay the same rate. Did you get your degree on Kao San road?

What? I am a former 'Merchant', in the Restaurant Industry in Australia. The Rate Merchants are charged is universal? That, Sir, regardless of your qualifications, is NOT true!

And I will having no troubles giving you some real world examples.

[bubba1]

A large retailer such as Wal Mart will pay a lot less % wise than Bubba's Surf Shop.

Edited May 18, 2016 by bubba1

[cpofc]

A large retailer such as Wal Mart will pay a lot less % wise than Bubba's Surf Shop.

I can't believe he said that about Merchant Service fees.

Gobsmacked!

[Sooo Upto Me]

Goodbye fast an efficient lines ... Hello 30 minutes to buy a liter of water.

And hello insane interest rates for the people least able to afford them.

The 2% - 3% Visa charges will now be passed along as higher prices.

Why?

Because what has worked perfectly for decades needs to be "improved" so a gigantic Foreigner company can get a percentage of sales.

Borrowing money should be for items one most can not readily afford in one lump sum, a car, a house, a boat. Not a candy bar.

Do you really think a huge Japanese retailer is going to pay 3%?

How about people that pay off their card every month and get benefits such as cash back or airline miles?

You are thinking like a skint dinosaur

Wot the hell is a skint dinosaur??

Another strange post.

[gerry1011]

Some farangs seem really stuck in the past.

Modern societies all evolve towards cashless societies.

Not only it makes the payment easy, no need to carry cash, no need to go to the ATM, but it also is safer for both sides, less possibilities of errors, etc...

I just hate to stand behind a farang who searches for small change in his wallet, till he finds the exact 147 baht amount needed to buy his items.

The world is moving fast. Some here seem totally idle.

[neeray]

Convenience stores are there for the convenience of the owners. In this case CP. So accepting credit cards offers even more "convenience" to CP.

[stevecarteraus]

great, finished the endless search of a Bangkok bank ATM (BK Bank only allows you to withdraw at their own ATM), less cash in my pocket thus safer, less cash in the 7/11 tiller thus safer cashiers. Now wait for all the other convenience stores to follow.

well that's strange. I bank with Bangkok Bank and use their card in many different atm machines, just have to pay slightly higher fee.

[bubba1]

Some farangs seem really stuck in the past.

Modern societies all evolve towards cashless societies.

Not only it makes the payment easy, no need to carry cash, no need to go to the ATM, but it also is safer for both sides, less possibilities of errors, etc...

I just hate to stand behind a farang who searches for small change in his wallet, till he finds the exact 147 baht amount needed to buy his items.

The world is moving fast. Some here seem totally idle.

Usually the same people with the Nokia from 1990 asking the 7-11 clerk to type the refill code into their phone.

[wpcoe]

What's about using mobile phones with NFC payment systems? Seems like Thailand has a robust mobile phone market. Would that work here? Tap/wave your phone at the register and away you go. Hasn't Japan had that for a while now?

[wump]

Goodbye fast an efficient lines ... Hello 30 minutes to buy a liter of water.

And hello insane interest rates for the people least able to afford them.

The 2% - 3% Visa charges will now be passed along as higher prices.

Why?

Because what has worked perfectly for decades needs to be "improved" so a gigantic Foreigner company can get a percentage of sales.

Borrowing money should be for items one most can not readily afford in one lump sum, a car, a house, a boat. Not a candy bar.

Do you really think a huge Japanese retailer is going to pay 3%?

How about people that pay off their card every month and get benefits such as cash back or airline miles?

You are thinking like a skint dinosaur

No ... I am thinking like an honors graduate in Finance who spent 6 years in the credit card industry, including risk / fraud analyst.

The rate charged for the use of credit cards is universal and all retailers pay it.

OK, now you know my credentials .. may I ask .. what are yours?

You have a big misunderstanding if you think all retailers pay the same rate. Did you get your degree on Kao San road?

Sure that's where he got it. Why did no German supermarket accept credit cards until last year? Because that's when the EU decided to cap credit card fees for retailers at 0.2% (debit cards) / 0.3% (credit cards). Before that, it was 1.58% for visa and 1.73% for Mastercard.

But keep believing that CP will pay anywhere near 2-3%

Edited May 18, 2016 by wump

[cpofc]

Some farangs seem really stuck in the past.

Modern societies all evolve towards cashless societies.

Not only it makes the payment easy, no need to carry cash, no need to go to the ATM, but it also is safer for both sides, less possibilities of errors, etc...

I just hate to stand behind a farang who searches for small change in his wallet, till he finds the exact 147 baht amount needed to buy his items.

The world is moving fast. Some here seem totally idle.

You should move away from those low class farang backpacker enclaves then. Hardly any farangs where I live in the BKK outer burbs. Just loads of debt stressed Thais using credit cards they will have to live 5 lifetimes to pay off.

You would be very surprised. I am extremely up to date on Modern Technology. Very. I went online with my first website 19 years ago this July.

Modern Societies all evolve towards cashless societies? Yes, it's called big brother and big business and big profits. All in the name of 'convenience' for us.

[Koosdedooes]

I'm assuming this means debit cards will also be accepted. In the USA no one uses cash, you pay everywhere with a debit card. Very convenient. Thailand is going the same direction, cashless society.

Even the people on welfare ?

[cpofc]

The Good Ole US of A.

Does anyone recall what was known as the Global Financial Crisis?

Caused by what exactly?

Yes. A Debit Card is good. No argument. Provided you have the money in your account to begin with. Most ordinary punters today don't. Why do you think Payday Lenders have proliferated?

Don't get me wrong, I wouldn't be without a credit card. I would feel just as naked as not having cash in my pocket. They are an invaluable tool.

But then I am a responsible adult who can control himself and manage his personal finances, and keep a zero balance. But judging on the 'stats', I reckon I am an exception, not the rule.

The General talks about educating the Thais in Critical Thinking. Maybe some training in personal financial management wouldn't be a bad idea either.

[CGW]

Some farangs seem really stuck in the past.

Modern societies all evolve towards cashless societies.

Not only it makes the payment easy, no need to carry cash, no need to go to the ATM, but it also is safer for both sides, less possibilities of errors, etc...

I just hate to stand behind a farang who searches for small change in his wallet, till he finds the exact 147 baht amount needed to buy his items.

The world is moving fast. Some here seem totally idle.

The world is moving fast, but are we heading in the right direction? just a thought

[cpofc]

for those Australian Expats, if you follow the news at home, you will have noticed a lot of 'outages' in the banks E Banking systems lately.

Hahaha the place grinds to a halt when that happens! People can't get to work. They have no cash for petrol, public transport, starbucks etc., because they can't 'swipe' their cards.

In the next war, it will be the first thing our enemies will do.? Take down the systems that run our you beaut 'cashless society'

Chaos.

[OMGImInPattaya]

OHH great, I can already see the Thais, try this card, no, OK try this card, no, OK maybe this one, same as they try multiply cards at the ATM's

I'll stick to cash payments for my few hundred baht shopping

It sounds like to me just this one company's specific "credit" card will be used, not all bank issued credit cards. Don't know about this card...probably something for low-income folks. I doubt it will cause much of a delay.

[bentfarang]

It irritates me that in Thailand no pin is usually required with the chip and pin card. When I use my BKK bank card they don't require a pin... just a signature. What's the point of chip and pin then?

[Don Mega]

Goodbye fast an efficient lines ... Hello 30 minutes to buy a liter of water.

And hello insane interest rates for the people least able to afford them.

The 2% - 3% Visa charges will now be passed along as higher prices.

Why?

Because what has worked perfectly for decades needs to be "improved" so a gigantic Foreigner company can get a percentage of sales.

Borrowing money should be for items one most can not readily afford in one lump sum, a car, a house, a boat. Not a candy bar.

Do you really think a huge Japanese retailer is going to pay 3%?

How about people that pay off their card every month and get benefits such as cash back or airline miles?

You are thinking like a skint dinosaur

Why would the japs pay the fee's ?

[slipperylobster]

Who loads up a basket at 7/11?

I get a beer and a pack of condoms....using loose change in my car ashtray.

[Don Mega]

Who loads up a basket at 7/11?

I get a beer and a pack of condoms....using loose change in my car ashtray.

9 big leo's loads up a 7/11 basket.

[slipperylobster]

I heard you can swipe your passport there as well, for your 90 day reporting. That was verified last year, on 1 April...by Thai Visa.

Edited May 18, 2016 by slipperylobster

[iBike]

Some of you lot are dinosaurs living in the stone age!

Ever been in McDonalds where you swipe your card across the payment terminal, takes about 5 seconds........

Welcome to 2016

[bkksteve123]

I hope it will work as the Octopus card does in Hong Kong. That is brilliant and saves time. No time wasted having to hand over money, counting the change, and perhaps best of all: no coins to carry around!

Having said that, knowing Thailand and Thai people, it will not work that way and it will most likely increase the queuing time as people try different cards and sign or input PIN-codes to approve transactions.

What they should have done a long time ago is just copy the entire Octopus card idea in Bangkok, covering both the BTS, MRT, and of course payments at 7-11, Restaurants, Tops, Villa etc. It is ridiculous that the MRT and BTS are not in a single system. Is there any other major city that has this nonsense?

[gerry1011]

Some farangs seem really stuck in the past.

Modern societies all evolve towards cashless societies.

Not only it makes the payment easy, no need to carry cash, no need to go to the ATM, but it also is safer for both sides, less possibilities of errors, etc...

I just hate to stand behind a farang who searches for small change in his wallet, till he finds the exact 147 baht amount needed to buy his items.

The world is moving fast. Some here seem totally idle.

The world is moving fast, but are we heading in the right direction? just a thought

That is a good question. Nobody can be sure about that.

But I believe it is better to adapt to the changing world than stay stuck in the past.

Some just can't adapt and end up really grumpy...

Having said that, I personally feel that life is better today than it was 20 years ago.

Social media, Facebook, online payment, easy of travel, smart phones, new technologies, Internet banking, etc... make life so much easier.

Edited May 18, 2016 by gerry1011

[inzman]

I'm assuming this means debit cards will also be accepted. In the USA no one uses cash, you pay everywhere with a debit card. Very convenient. Thailand is going the same direction, cashless society.

Even the people on welfare ?

Yes, even all the people on welfare. As in the USA welfare is now paid on an eft card. Only accessible with plastic. My how the world has changed.

[CGW]

Some of you lot are dinosaurs living in the stone age!

Ever been in McDonalds where you swipe your card across the payment terminal, takes about 5 seconds........

Welcome to 2016

When it works! welcome to 2016...

[CGW]

Some farangs seem really stuck in the past.

Modern societies all evolve towards cashless societies.

Not only it makes the payment easy, no need to carry cash, no need to go to the ATM, but it also is safer for both sides, less possibilities of errors, etc...

I just hate to stand behind a farang who searches for small change in his wallet, till he finds the exact 147 baht amount needed to buy his items.

The world is moving fast. Some here seem totally idle.

The world is moving fast, but are we heading in the right direction? just a thought

That is a good question. Nobody can be sure about that.

But I believe it is better to adapt to the changing world than stay stuck in the past.

Some just can't adapt and end up really grumpy...

Having said that, I personally feel that life is better today than it was 20 years ago.

Social media, Facebook, online payment, easy of travel, smart phones, new technologies, Internet banking, etc... make life so much easier.

& a free and democratic world with no unemployment and nobody below the "poverty line" sounds good to me

[Lupatria]

Not a good idea.long delays at checkout unless they use only card scanning and not paper sign which I doubt.

Not a good idea?

When was the last time you became aware of a good one in LOS?

[Tanlic]

Is this music to a muggers ears? Could mugging could go through the roof? 7/11 on every corner they could hammer the card before you get to a phone as the took that too.....does unusal spending cuuse an alert at the bank in thailand? Or are you <deleted> if you lose your debit card? Miserable banks shoul have photo ID on cards in this day and age....plus allowing others to use your card should be banned...lots of things bank could do but finacially to them its a no no

Sent from my SM-G900F using Tapatalk

[Suradit69]

Goodbye fast an efficient lines ... Hello 30 minutes to buy a liter of water.

And hello insane interest rates for the people least able to afford them.

The 2% - 3% Visa charges will now be passed along as higher prices.

Why?

Because what has worked perfectly for decades needs to be "improved" so a gigantic Foreigner company can get a percentage of sales.

Borrowing money should be for items one most can not readily afford in one lump sum, a car, a house, a boat. Not a candy bar.

"Goodbye fast an efficient lines ... Hello 30 minutes to buy a liter of water."

Yes, just behind some farang at checkout at Friendship at noontime when it's at its businest. He offered his (old) Bangkok Bank ATM/Debit card. Several attempts. No good. Then fishing for cash.

Yesterday I turned in my old ATM/debit card at my branch of Bangkok Bank and got the new one with a chip. Quick exchange and no charge. Not sure if that was the problem for this guy, but he definitely made checkout more tedious and time consuming than usual for those of us behind him.

Edited May 18, 2016 by Suradit69