Solo is a debit card in the UK that was introduced as a brother of an existing Switch. Launched July 1, 1997 by Switch Card Scheme, it is designed for use on deposit accounts, as well as by customers who are not eligible for Switch cards (or, later, Maestro cards) on current accounts such as teenagers. Solo card scheme was deactivated permanently on March 31, 2011.
Video Solo (debit card)
Operation
Solo is issued as a multifunction cash card by NatWest and Royal Bank of Scotland for customers over the age of 11 and by HSBC Bank (formerly Midland Bank) to customers over the age of 13 years; however, both RBS Group and HSBC are now issuing Visa Debit cards in place of Solo. Like its main rival Visa Electron, Solo cards require that all transactions receive electronic authorization from the issuing bank.
Such authorizations will not be granted if clearing funds are insufficient in the cardholder's account. The Solo Card is associated with a Switch processing system (later branded as Maestro); However, some traders differentiate between Solo and Switch through their numbering schemes to prevent purchases under 18 years online.
Because of their availability for minors, they can be used as a simple age check mechanism; for example, when Ocado online sellers receive Solo, they refuse to sell razors or alcoholic beverages to those who pay with Solo Card cards also given to people with poor credit history to reduce liabilities for the issuing bank.
Maps Solo (debit card)
References
External links
- Maestro UK
- MasterCard Worldwide (United Kingdom)
Source of the article : Wikipedia
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