Walt Disney World thinking about cutting ties with Visa?

[zaccaglin]

Seeing as they just released the Star Wars Disney Visa I don't think they're gonna do away with the Disney Visa, however maybe cutting away from chase as the bank used through it. I personally would love to see that. As for discontinuing a certain kind of card at the parks.

And if any of y'all forgot, Amex was once the official card of Wdw.

 

[Fantasia79]

I could see them pushing the Disney Visacard harder by only accepting one card, like Costco does with Amex.

 

[Starwind]

Card present fraud has decreased in Europe since EMV chips were required. By not upgrading Disney will become liable for any card present fraud that occurs, if the issuing bank has chip cards. Until now, the financial institutions have absorbed the loss.

Visa is so big, that I can't imagine that Disney would cut ties with them completely.

As of October 2015, retailers in the US who have not upgraded to chip-reading point of sale terminals assume the liability for fraudulent transactions. Prior to that it was on the banks.

Retailers that have upgraded their systems do not assume the liability.

http://www.emv-connection.com/understanding-the-2015-u-s-fraud-liability-shifts/

http://www.computerworld.com/articl...ts-over-chip-cards-fraud-liability-shift.html

 

[BuckeyeBama]

When we stay off site we use our Visa exclusively in the parks. We never use a debit card because of the risk. We would not get a different card for Disney. If they no longer accepted Visa, we would carry cash like we used to do and it would hurt Disney because it would limit our spend every day. If they stopped accepting Visa altogether when we are staying on site, we would probably stop going. Accept our preferred method of payment or lose our business.

 

[writerguyfl]

Disney is a company that has an in-house research department. Every major business decision is made in conjunction with empirical data.

Disney World currently accepts Visa, MasterCard, American Express, Discover, Diners Club, and JCB (Japan Credit Bureau). Although I can't imagine Disney will ever not accept the big three cards, I can see them potentially dropping one or more of those last three.

Perhaps the survey is seeking for opinions about those minor cards. But, since the survey is already being conducted, there's no reason not to ask Visa, MasterCard, and Amex users the same questions. The data might prove useful in some future business decision.

 

[MommaBerd]

Wouldn't Apple Pay/ Android Pay kind of negate part of the appeal of Magic Bands? And even Mobile Payments still need to go through Visa/MC. Plus everything that is charged to the room still needs to be cleared somehow. Most of that will be cleared through Visa/MC/Amex. I did notice that when we were there in October, none of the registers had been upgraded to chip readers. If they don't upgrade, WDW is laving itself open to potential fraud losses. The only business I have seen that circumvents card processing fees is Target since the red card clears as an ACH draft, but that carries it own sets of risks, since the payment could be returned for insufficient funds.

A little down a rabbit trail...When we were at Riverside Mill in May, I saw someone using their Apple Watch to pay for his food. I'm sure it was via Apple Pay, but I thought that would be a cool "app" for the Apple Watch - that it could act as a Magic Band...

 

[Tarheel girl 1975]

As of October 2015, retailers in the US who have not upgraded to chip-reading point of sale terminals assume the liability for fraudulent transactions. Prior to that it was on the banks.

Retailers that have upgraded their systems do not assume the liability.

http://www.emv-connection.com/understanding-the-2015-u-s-fraud-liability-shifts/

http://www.computerworld.com/articl...ts-over-chip-cards-fraud-liability-shift.html

I understand that. Until October 1st, the issuing financial institutions were liable for all card present fraud. Now the liability will shift to whoever has the "least secure" system. When we're at Disney in October, I didn't see any registers using chip terminals. If Disney does not have chip terminals they are leaving themselves open for potential losses. So far, the majority of merchants have not upgraded they terminals.

 

[MommaBerd]

Duplicate post

 

[rteetz]

A little down a rabbit trail...When we were at Riverside Mill in May, I saw someone using their Apple Watch to pay for his food. I'm sure it was via Apple Pay, but I thought that would be a cool "app" for the Apple Watch - that it could act as a Magic Band...

I believe Marriott or someone partnered with Apple to allow apple watches to open the hotel rooms. Disney would just need to take advantage of the technology. It would also make my life simpler as I have an Apple Watch.

 

[Neoflynn]

I cant see Disney ever doing away with any of the big 3 credit cards and especially not visa. As a Disney Visa card holder it makes it 10x easier for us to afford a trip down there so as long as there is a Disney Visa I imagine they will accept visa

 

[Spacedog1975]

Costco is changing over to Visa only for instore purchases in March of '16.

And thus I hope Chase/Visa/Disney never goes away. Now I can earn my 2% at Costco *AND* my 1% for Disney.

 

[doconeill]

I bet that this could be tied to Disney wanting to bypass the credit card companies and their fees. They already have the Disney Vacation Account. Why not just tie your band directly to that to siphon off the money? No credit card fees, AND Disney has your money already locked up in advance, making money off the interest instead of you...

 

[lockedoutlogic]

I bet that this could be tied to Disney wanting to bypass the credit card companies and their fees. They already have the Disney Vacation Account. Why not just tie your band directly to that to siphon off the money? No credit card fees, AND Disney has your money already locked up in advance, making money off the interest instead of you...

They are far overestimating their own importance then...

Because people use credit for convenience and a variety of other benefits - such as the cashback programs like discover and rewards like airline miles.

Of course Disney would rather use your money "locked up" until you show up and forfeit it to them...but that's nuts.

If then said to me "we don't accept visa but we'll float you a Disney only saving account with no benefit for your "convenience"...
My one word response would be: "pound"

 

[Tarheel girl 1975]

I bet that this could be tied to Disney wanting to bypass the credit card companies and their fees. They already have the Disney Vacation Account. Why not just tie your band directly to that to siphon off the money? No credit card fees, AND Disney has your money already locked up in advance, making money off the interest instead of you...

But many people use their debit or credit cards to load their DVA, so Disney still has to pay fees. So while I can see Disney deciding to favor another card type or issuing bank as the "official" Disney card, I can't see them not accepting Visa and MC.

 

[fairy oma]

I can honestly say Disney discontinuing the ability to pay for my Disney vacation by paying online with my credit card would deter me from staying at a WDW resort. I paid for a party of 9 over 17 months to stay at the Poly and paid my credit card bill off each month...I think with the amount WDW charges for their resort rooms they can afford the credit card fees (I am sure they are already figured into the room costs). I would not be willing to put my money into one of their vacation accounts so they can use my money and the interest it would earn even though interest rates are low.

 

[MrPTato]

Perhaps the transactions fees are already imbedded into the pricing.

 

[doconeill]

But many people use their debit or credit cards to load their DVA, so Disney still has to pay fees. So while I can see Disney deciding to favor another card type or issuing bank as the "official" Disney card, I can't see them not accepting Visa and MC.

But there are still advantages to Disney...they get the money earlier, which can offset the fees paid by the time the income is realized. And depending on how the payments are structured into the account, there may be less transactions.

I should have mentioned that no, I don't think it will ever happen - only that it might be behind the thinking to put it on the survey.

 

[emmamomma]

Costco is changing over to Visa only for instore purchases in March of '16.

Costco here in Canada are only takining mc now

 

[minnie mum]

But there are still advantages to Disney...they get the money earlier, which can offset the fees paid by the time the income is realized. And depending on how the payments are structured into the account, there may be less transactions.

I should have mentioned that no, I don't think it will ever happen - only that it might be behind the thinking to put it on the survey.

Never gonna happen, and I doubt it would be something Disney would contemplate for WDW. Not when the majority of WDW visitors are new or infrequent guests, or are international. None of these guests would want to, or even be able to sock away substantial amounts into an account that could only be used for one thing, and one thing only. And it's because of the higher percentage of one time and international visitors that I think it unlikely that Disney would ever stop honouring any of the major credit cards.

 

[doconeill]

Never gonna happen, and I doubt it would be something Disney would contemplate for WDW. Not when the majority of WDW visitors are new or infrequent guests, or are international. None of these guests would want to, or even be able to sock away substantial amounts into an account that could only be used for one thing, and one thing only. And it's because of the higher percentage of one time and international visitors that I think it unlikely that Disney would ever stop honouring any of the major credit cards.

Disney already has the Disney Vacation Accounts available. So they are obviously thinking there is a market for it.