Iconoculture: When U.S. consumers swipe their debit cards, they’re typically asked to choose “credit” or “debit” for the transaction. The first requires a signature, the second a PIN, but either way the money still comes out of a savings or checking account. But what if consumers really had the option on a single card of either charging via a credit line or debiting a bank account? That’s precisely what the financial services company TSYS announced in February 2010. Technically, it’s called a hybrid decoupled debit/credit card, and it would allow major Visa and Mastercard issuers, for example, to offer a debit line on a credit card.
Buzzworthy at the bank: A hybrid credit and debit card [Iconoculture]
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Guys, I think I misunderstood something…
The idea is a card that can be used to pay on credit AND debit? Cause this is not so new for me.
Here in Brasil is common that cards can be used in both ways (you just have to tell the cashier if you want credit or debit). And, in many cases (as with me), you dont have to sign at all, you just use the PIN code to authorize the transaction (doesn’t matter if its in credit or debit).
And also there’s a third way of payment, like a pre-paid credit (used commonly by employees that receive a “lunch ticket” from companies).
Anyway, I love CBI, its one of my favorite blogs!
Hugs from Brasil!
i think they are saying that using the same card, instead of pulling money from your bank account (either credit or debit option) there will be an option to actually use a credit line that would not touch your money in the bank… I, too, am familiar with the credit/debit cards, but either way you use them – the money comes out straight from your checking or savings account… Adding a credit line to the same card as an option is great…
I just came across CBI a month ago and I am a regular visitor already!
Yup, you’re right. This “hybrid” card works as credit or debit card. As the consumer, you can choose! Great idea huh?