Walt Disney World thinking about cutting ties with Visa?

[lockedoutlogic]

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

You're far overestimating the appeal of those...

For those that want/need a Christmas club...it's great.

For everyone else it's laughable. What benefit to the "saver"?
Interest? A 10% discount?

"Convenience" is laughable in this day and age?

I'm not too familiar with this...am I legitimately missing something?

 

[Eoghann]

You're far overestimating the appeal of those...

For those that want/need a Christmas club...it's great.

For everyone else it's laughable. What benefit to the "saver"?
Interest? A 10% discount?

"Convenience" is laughable in this day and age?

I'm not too familiar with this...am I legitimately missing something?

No, it's really not a credit card alternative. It does make a nice way to save up for your vacation is all.

 

[lockedoutlogic]

No, it's really not a credit card alternative. It does make a nice way to save up for your vacation is all.

which is laughable…because the disney visa gives me credit for the future.

 

[doconeill]

You're far overestimating the appeal of those...

Not sure why I'm the one overestimating the appeal. I didn't say what the level of appeal is. I am simply pointing out their existence. Disney may be overestimating the appeal, not me. But they must at least see some appeal, or at least a large advantage, to them.

 

[minnie mum]

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

Sure there's a market for it. It's aimed squarely at frequent, or at least somewhat frequent WDW guests who live in the US. But that isn't the lions share of all WDW visitors. Why would they stop accepting one of the world's largest credit cards, used all over the world, in favor of something that is used by a significantly smaller portion of its customer base?

 

[doconeill]

Sure there's a market for it. It's aimed squarely at frequent, or at least somewhat frequent WDW guests who live in the US. But that isn't the lions share of all WDW visitors. Why would they stop accepting one of the world's largest credit cards, used all over the world, in favor of something that is used by a significantly smaller portion of its customer base?

Let me put it this way...they are NOT going to stop accepting Visa. They aren't even considering it. This isn't Costco.

What they _may_ be considering is changing affiliation for their Disney-branded cards. They are currently Visa cards through Chase. But it is not that unusual in the loyalty credit card space to change banks and/or brands. But other than this thread I have not heard any rumblings of that happening.

What I was simply pointing out is that Disney does have an alternate system that I'm sure some backroom corporate wannabe fresh out of the Wal-Mart School of Customer Fleecing looked at and said, "What if...we could save TONS!"

That is the impetus behind Wal-Mart teaming up with CVS, etc. over the whole "pay with your phone" lockout because they saw they could have their own system (CurrentC), linked to your bank account, and an app you could pay with and avoid all the merchant charges they pay to Visa, MC, etc.

They weren't going to stop taking credit cards - they just weren't going to allow an easier way to pay unless it benefited them.

Disney Vacation Accounts could be positioned similarly if they wanted. Except for that whole Apple relationship...

 

[lockedoutlogic]

Not sure why I'm the one overestimating the appeal. I didn't say what the level of appeal is. I am simply pointing out their existence. Disney may be overestimating the appeal, not me. But they must at least see some appeal, or at least a large advantage, to them.

I'm saying that making any equivalencies between the visa/MasterCard system...and the "Disney happy trip" accounts is a huge disconnect.

I don't think you meant that...but it come off that way.

Disney processes tens - if not hundreds of thousands of visa hits...per day.

And frankly, while they offer the savings account...that's not who they want there in many if not most cases...they want fat wallets and credit cards a blazin...no "budgets"

 

[doconeill]

Disney processes tens - if not hundreds of thousands of visa hits...per day.

But right there is the key...they pay for each one of those transactions. Not much per, but as you say they are handling thousands and thousands of them each day. Which means if they could cut out those transaction fees, they could save thousands each day.

It's similar to why the magicbands only allow charging to a room...rather than have to process each individual credit card transaction, they just make one big transaction at check-out.

Anyways, they haven't done it yet (possibly due to technical or regulatory reasons), and they may never do it, I only brought it up as part of the discussion as to WHY they might do what was claimed...but as I've also said, they are NOT going to stop taking a major credit card brand like Visa, considering that Visa and Mastercard transactions are handled the same way. Amex, however, charges more per transaction on average, which is why many stores, especially smaller ones, don't take it.

 

[lockedoutlogic]

Terminal fees have always been a gripe for business...Disney is at the head of the pack.
But they have realistically no alternative as the system currently stands. They can't tick off the majority of their customers - because credit cards in some form is universal at this point. Until there's a different system, visa is gonna be accepted at wdw.

It's just like early ATMs...a huge loss for the banks. But you HAD to have it. The loss would have been much larger than the cost.

 

[doconeill]

Terminal fees have always been a gripe for business...Disney is at the head of the pack.
But they have realistically no alternative as the system currently stands. They can't tick off the majority of their customers - because credit cards in some form is universal at this point. Until there's a different system, visa is gonna be accepted at wdw.

It's just like early ATMs...a huge loss for the banks. But you HAD to have it. The loss would have been much larger than the cost.

And that's why they aren't getting rid of Visa...if there is any teeth to the rumor, it's really about their affiliation with Chase Visa over their Disney-branded reward card, and nothing about "not accepting" Visa.

But that does not preclude their possibly wanting to reduce their costs by offering an alternative - which is precisely what the CurrrentC consortium was trying to do. And their carrot for consumers was to NOT allow the convenience of Apple/GooglePay (even though they are already set up to do it), but only offering that convenience to those with CurrentC accounts.

 

[stitch 6 2 6]

Suddenly discovering I couldn't pay with Visa would be more than a little surprising! (That happened trying to pay the gas station ... after I pumped ... so I could return the car to get back to the ship before it left!)

 

[I Love Pluto]

Those "Disney Reward Dollars" are important to me! I count on them! If they are taken away - I will visit less and less. Why give a benefit, then take it away? I will shred my Chase Visa if they take away the Disney Reward Dollars!

 

[rteetz]

Those "Disney Reward Dollars" are important to me! I count on them! If they are taken away - I will visit less and less. Why give a benefit, then take it away? I will shred my Chase Visa if they take away the Disney Reward Dollars!

Disney is not ending ties with visa it's just a survey they did with most major credit cards.

 

[doconeill]

Those "Disney Reward Dollars" are important to me! I count on them! If they are taken away - I will visit less and less. Why give a benefit, then take it away? I will shred my Chase Visa if they take away the Disney Reward Dollars!

They won't take them away...legally they can't. Even IF they were to break ties with Chase/Visa, anything you earned is still yours. And if they switch affiliations, they may also automatically enroll you in the new card. That's what's happening with the JetBlue card - it is switching from Amex to Mastercard.

Still, nothing has been announced nor are even the rumors really substantiated.

 

[crazy4wdw]

Disney Visa was initially offered through Bank One. I can't recall if Disney switched the card over to Chase or if there was a merger between the two banks.

 

[rteetz]

Disney Visa was initially offered through Bank One. I can't recall if Disney switched the card over to Chase or if there was a merger between the two banks.

There was a merger I believe. I don't see any bank ones around anymore.

 

[doconeill]

Bank One and JP Morgan Chase merged in 2004, which I think was around when the Disney Rewards Visa started...we're listed as Charter Members and started in 2004, and I don't offhand recall Bank One being the issuer...but it may have been right after it started.

 

[crazy4wdw]

Bank One and JP Morgan Chase merged in 2004, which I think was around when the Disney Rewards Visa started...we're listed as Charter Members and started in 2004, and I don't offhand recall Bank One being the issuer...but it may have been right after it started.

Disney ended the Magic Kingdom Club at the end of 2003 and the Disney Visa was supposed to be its replacement in 2004. However the benefits offered by Disney Visa have never been close to what was offered by MKC. I have a charter member Disney Visa. My card says "member since day 1".

 

[eastendlights]

Disney asked me the same question about AMEX. I think they just asked everyone who took the survey the question and personalized it to apply to whatever card was used.

 

[rteetz]

Disney asked me the same question about AMEX. I think they just asked everyone who took the survey the question and personalized it to apply to whatever card was used.

Yep I've heard people with MasterCard got the same question as well.