Visa System crashed in UK and Europe

[Svartalf]

I have no choice. Got to go with the flow. I have not had a Euro of any denomination for years now in my hand. The notes I believe have changed a couple of times now. The number of ATM's is being reduced drastically. Only in the tourist areas will you find them.
Everybody pins. Even the unemployed as their benefit is paid into a bank account.

nopt everyubody, I haven't done a bona fide non cash transaction in over 10 years, more like 15... no cheques, no card payment, even less online transactions ... only cash

[Scot Dutchy]

That is your problem.

[Scot Dutchy]

Who owns ICS? You dont have a single idea how this country works and stop trying to shoe horn us into your mess.

That's why I quoted that Dutch website (number one hit in google for Netherlands and credit cards). ICS provides visa/mastercard credit cards in Netherlands. So you were unequivocally wrong when you said you can only get credit cards from Dutch banks, and that there weren't any private companies providing credit cards in Netherlands.

So now that it's been shown that you made shit up, you can avoid admitting you were wrong by starting the insults. Go.

I will ask again who owns ICS? Oh tiddums. Dropped your dummy tit again?

[pErvinalia]

And here come the insults. A good indicator that even you know you fucked up.

Regarding who owns it, I don't know. But it's a private company that provides visa and mastercards in the Netherlands. Two things you said don't happen.

[Scot Dutchy]

Straight from the horses mouth in Dutch:

Tegenwoordig is ICS een onderdeel van ABN AMRO en dus indirect in handen van de Nederlandse overheid. ICS is voortgekomen uit de Nederlandse activiteiten van de Bank of America. Bank of America heeft later haar Nederlandse activiteiten verkocht aan de VSB Groep. De VSB Groep is inmiddels opgegaan in Fortis Bank Nederland welke op zijn beurt inmiddels is opgegaan in ABN Amro Bank

A quick translation: ICS is part of ABN AMRO Group owned by the Dutch government. It resulted from the Dutch activities of the Bank of America which was sold to the Dutch bank group VSB which went bankrupt and was taken over by the Belgian/Dutch Fortis bank which was in turn taken over by the ABN-AMRO group which as already explained is owned by the Dutch government.

That's a €100 you owe me for the translation.

A private company? Since when is the Dutch government a private company?

[pErvinalia]

It doesn't operate for profit?

International Card Systems (ICS) is a leading provider of credit and debit card-based payment processing services to small and medium sized merchants located across the United States.

http://internationalcardsystems.com/html/about_ics.html

I doubt very much they are providing their services to the US at cost. I can't image that they operate at a profit in the US and not in the Netherlands.

[Scot Dutchy]

It doesn't operate for profit?

International Card Systems (ICS) is a leading provider of credit and debit card-based payment processing services to small and medium sized merchants located across the United States.

http://internationalcardsystems.com/html/about_ics.html

I doubt very much they are providing their services to the US at cost. I can't image that they operate at a profit in the US and not in the Netherlands.

Grabbing at useless facts. ICS in the Netherlands was sold off eventuality to the ABN-AMRO group owned by the Dutch government. It has nothing to do with ICS America. They are not an independent company!

[Scot Dutchy]

ICS was also involved in a great phishing scam. Cost it a lot of clients.

[pErvinalia]

It doesn't operate for profit?

International Card Systems (ICS) is a leading provider of credit and debit card-based payment processing services to small and medium sized merchants located across the United States.

http://internationalcardsystems.com/html/about_ics.html

I doubt very much they are providing their services to the US at cost. I can't image that they operate at a profit in the US and not in the Netherlands.

Grabbing at useless facts. ICS in the Netherlands was sold off eventuality to the ABN-AMRO group owned by the Dutch government. It has nothing to do with ICS America. They are not an independent company!

Do you have a link for this? The only ICS I can find on google is the one I linked to above.

[Hermit]

...

[Hermit]

From the top of the Dutch government's page concerning ABN AMRO:

The state of the Netherlands nationalised ABN AMRO in 2008. The nationalisation prevented serious instability in the financial sector and the economy. It also safeguarded the interests of account holders. When it took over ABN AMRO, the state always said it was a temporary measure.

International Card Services (ICS), a wholly-owned subsidiary of ABN AMRO, so the whole lot will fall back into private hands as soon as it is deemed by the government to be fit for sale.

I must say the Netherlands dealt with the banking crisis a whole lot better than the USofA. In 2007 the RFS consortium (consisting of Royal Bank of Scotland, Fortis and Banco Santander), acquired the Dutch bank ABN AMRO for approximately €72 billion. When the shit hit the fan the government picked up the pieces for €16.8 billion. (Source) In short, the owners of the banks bore the losses. By contrast the US government bailed out troubled banks in its own country to the tune of US$700 billion by purchasing the banks' bad assets. The tax payers bore the losses.

[pErvinalia]

...

[Scot Dutchy]

Thanks Hermit.
Confusion comes when companies keep their old names.

[NineBerry]

Used smartphone to pay at the supermarket for the first time today. It is great not to have to reach for my wallet.

[Scot Dutchy]

Used smartphone to pay at the supermarket for the first time today. It is great not to have to reach for my wallet.

Done that a few times but still not confident enough to leave cards at home.