Laser (debit card)

Laser is the primary debit card system used in Ireland.

Laser was launched in 1996 and currently has around 2.5 million customers. Seven Irish financial institutions are partners in the Laser card system: Allied Irish Banks, Bank of Ireland, EBS Building Society, First Active, National Irish Bank, Permanent TSB and Ulster Bank. Halifax, on the other hand, issues the Visa Debit card, and is the only bank to do so in the Republic of Ireland.

Usage

Laser is primarily an electronic point of sale debit card, but can also be used by telephone and internet. There is no maximum limit on a Chip and Pin transaction, and a EUR 1,500 maximum limit on all other transactions. [ [http://www.lasercard.ie/faq.asp?id=83#q51 Laser Card Services Ltd] ] Laser also offers a "cashback" option similar to many other cards. Laser is the only non-cash payment method accepted by some discount stores in Ireland, including Aldi and Lidl.

Laser cards are not widely acceptable for online purchases made on sites operated outside of Ireland. For example, at present it is still not possible to use Laser with the Irish iTunes Music store (although it can be used to purchase hardware there). Also, Ryanair does not accept Laser payments at all. The reluctance of businesses to accept Laser as a payment medium is due to credit card companies' monopolising of plastic payment methods. The credit card companies have squeezed businesses in order to prevent them accepting Laser as payment for goods. This is potentially detrimental to consumers as they would have to pay higher interest rates for using their credit card to purchase goods (unless they pay the credit card balance at the end of each month). Laser interest rates may be lower than credit card rates.

Co-branding

Since 2005, Allied Irish Banks (AIB) and Bank of Ireland account holders are receiving co-branded Laser/Maestro card. Since October 2006, Ulster Bank and its sister company First Active, have been issuing Laser cards co-branded with Maestro. These are Chip and PIN cards with both Laser and Maestro functions. Within Ireland, they function primarily as Laser cards, outside they function as Maestro cards, although with patchy acceptance. All other Laser partners are to issue Chip and PIN cards, and this will allow them to co-brand with other debit card brands.

Technical

Laser cards are prefixed with either "6304", "6706", "6771" or "6709", and may be between 16 and 19 characters in length.

References

ee also

* List of Irish companies

External links

* [http://www.lasercard.ie Official site]


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Debit card — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Empl …   Wikipedia

  • Maestro (debit card) — The Maestro logo. Maestro is a multi national debit card service owned by MasterCard, and was founded in 1990. Maestro cards are obtained from associate banks and can be linked to the card holder s current account, or they can be prepaid cards.… …   Wikipedia

  • Laser (disambiguation) — A laser is a device which generates a coherent beam of light.Laser can also refer to: *Laser (dinghy), the popular International Laser Class sailing dinghy *Silphium, an extinct plant of genus Ferula , which produced a resin (also called laser )… …   Wikipedia

  • Debit MasterCard — The Debit MasterCard is a type of debit card in the United Kingdom, Australia, the United States and other countries. It uses the same systems as the standard MasterCard credit card, but does not use a line of credit to the customer as it is a… …   Wikipedia

  • Card security code — The Card security code is located on the back of MasterCard, Visa and Discover credit or debit cards and is typically a separate group of 3 digits to the right of the signature strip …   Wikipedia

  • Card enclosure — A card enclosure is a container for smart cards, credit cards, debit cards, telephone cards, visiting cards, business cards and other cards of similar size. Most cards have dimensions that follow the ID 1 format of the ISO 7810 standard which… …   Wikipedia

  • Debit-Karte — Eine Debitkarte (engl. debit die Kontobelastung) ist eine Bankkarte, Sparkassenkarte oder Bankomatkarte (österreichisch), die zur bargeldlosen Bezahlung oder zum Abheben von Bargeld am Geldautomaten eingesetzt werden kann. Sie ist eine aus… …   Deutsch Wikipedia

  • Card not present transaction — A card not present transaction (CNP) is a credit card purchase made over the telephone or over the Internet where the physical card has not been swiped into a reader. It is a major route for credit card fraud. If a fraudulent transaction is… …   Wikipedia

  • Bank card number — A bank card number is the primary account number found on credit cards and bank cards. It has a certain amount of internal structure and shares a common numbering scheme. Credit card numbers are a special case of ISO/IEC 7812 bank card numbers.… …   Wikipedia

  • Credit card — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Empl …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.