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Differences Between Visa and Solo

Visa vs Solo

Today, most people prefer to use debit cards than carrying a huge amount of cash. Most merchants or stores accept debit cards for the payment of your purchased goods. With just a swipe through the debit card slot, your purchased items are now considered paid. Cash hides inside the pockets of your jeans. After a month without realization, you will find your cash almost torn to pieces due to several washings in the laundry. Even if you forgot your debit card inside your pocket, it won’t be torn since it is made of hard plastic. If there is a thief waiting for you around the corner, your cash will be completely stolen, and the thief will enjoy spending your money. However, if your debit card is the one stolen, the thief can’t access your money since he needs to know the PIN first. And if you ever need money, you can just pull out your debit card and look for the nearest ATM machine which is everywhere. With this, you don’t need to go inside a bank and make a withdrawal.

Visa and Solo are two brands of debit cards which many people utilize for the payment of their purchased items. The differences between Visa and Solo are that Visa is issued by Visa, Inc. and Solo is issued by Switch Card Scheme. Visa debit cards were formerly known as Visa Delta. This was prior to the date of October, 2004. Large banks help in issuing the debit cards of Visa, Inc. The issuance of Visa debit cards are widely used by many people because these cards are comparable to that of credit cards. In the United Kingdom, Visa Delta was the first debit card which was introduced by Barclays in  June, 1987. In the United States, several banks also issue debit cards with a Visa logo which can be linked into their bank accounts. As said earlier, Visa debit cards can be used as payment for goods and services. They serve as complete replacements for cash and checks. You can also use your debit card abroad as long as it has a Visa logo. In Canada, there is an available option to use dual network cards: Interac and Visa. For ATM withdrawals, the Interac network does the job. For phone, online, and international transactions, the Visa card allows you to make such transactions.

Solo was launched by the Switch Card Scheme. Solo debit cards came out in July, 1997. These debit cards are like their sister card, Switch, which is now known as Maestro. Maestro is one of the competitors of Visa, Inc. in the market industry. You can also use Solo debit cards for the payment of your goods and services. An authorization is needed if you are trying to make a transaction so that the cardholders will be able to manage what they need to spend. Using Solo is so convenient since you can use it as payment via mail and phone orders as well as the Internet. Like the Visa debit card, Solo can be swiped through a card reader to process your transactions. It can also be used for transactions abroad as long as your debit card has the Maestro logo.

Summary:

  1. Debit cards have a lot of advantages compared to carrying cash.

  2. Visa and Solo are two brands of debit cards.

  3. Both brands can be used for the payment of your goods and services.

  4. Visa debit cards can be used abroad as long as they have the Visa logo. Solo debit cards can also be used abroad as long as they have the Maestro logo.

  5. Visa and Maestro are competitors in the market industry.


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