Buying Vanilla Reload and/or Visa Vanilla Reload with a CC in the NY area

[TimT]

Google "loss leader."

Says you.

Lotta fiction as fact coming from you, sir.

Are you saying that cvs loses the money ?

[ariIs]

Why should cvs be so worried about fraud ? The cc companies should as they would eat the loss.

Generally the vendors are on the hook for the loss.

Requiring ID was probably to stop fraud, but most CVS cashiers just scan it without checking anything.
Getting a scannable real-looking ID is not that hard. Especially an 'out-of-state' one where the cashiers don't know how it's supposed to look like.

I'm pretty sure the fraud was the main driver for CVS change in policy - even though they probably do lose a few bucks per VR, it's a loss leader like any other sales that they run.

Assuming 1% interchange fee to the CC, and they keep let's say 1/2 of the 3.95 fee ($2), they lose $3 on each transaction.
If they lose even 1 VR to fraud, they're on the hook for $500. That's the equivalent of 166 normal VR purchses.
That would be what they're trying hard to catch.

I think the timing of the press release is not a coincidence.
They probably timed the switch to all-cash because of the publicity that these scumbags would now attract can inform other criminals of how to use stolen CCs for VRs.

I suspect starting tomorrow CC VRs will be dead.

[TimT]

Generally the vendors are on the hook for the loss.

Requiring ID was probably to stop fraud, but most CVS cashiers just scan it without checking anything.
Getting a scannable real-looking ID is not that hard. Especially an 'out-of-state' one where the cashiers don't know how it's supposed to look like.

I'm pretty sure the fraud was the main driver for CVS change in policy - even though they probably do lose a few bucks per VR, it's a loss leader like any other sales that they run.

Assuming 1% interchange fee to the CC, and they keep let's say 1/2 of the 3.95 fee ($2), they lose $3 on each transaction.
If they lose even 1 VR to fraud, they're on the hook for $500. That's the equivalent of 166 normal VR purchses.
That would be what they're trying hard to catch.

I think the timing of the press release is not a coincidence.
They probably timed the switch to all-cash because of the publicity that these scumbags would now attract can inform other criminals of how to use stolen CCs for VRs.

I suspect starting tomorrow CC VRs will be dead.

then why only VR ? What about every other gift card out there ?

[Chapshnell]

I am not sold on the idea that a vanilla reload would be a loss leader & I will explain why.. I am in the food manufacturing business so I can only compare to what I know in my field...
A loss leader is 1/2. Either to get the customer into the store to buy something else that is profitable.. (simple explanation). Or to buy the product again at the normal price as the customer will like it & want it again no matter the price.
The issue I have is that vanillas are $3.95 all year round. And I "personally" dont feel they have anything to gain by offering it at $3.95 at a loss to them.
But the truth is that I couldnt care less as all I care is that they sell vanillas & you can buy it with a CC 

[Centro]

I am not sold on the idea that a vanilla reload would be a loss leader & I will explain why.. I am in the food manufacturing business so I can only compare to what I know in my field...
A loss leader is 1/2. Either to get the customer into the store to buy something else that is profitable.. (simple explanation). Or to buy the product again at the normal price as the customer will like it & want it again no matter the price.
The issue I have is that vanillas are $3.95 all year round. And I "personally" dont feel they have anything to gain by offering it at $3.95 at a loss to them.
But the truth is that I couldnt care less as all I care is that they sell vanillas & you can buy it with a CC 

+1
I did all my pharmacy-related shopping there. Now maybe I'll start going to walgreens and rite aid again

[mgarfin]

If CVS pays 1% CC processing fee. Fair assumption IMO.. They lose $.

Cant be

[TimT]

Google "loss leader."

Says you.

Lotta fiction as fact coming from you, sir.

Lots of people bought other stuff there. I can't speak for you though.

[CountValentine]

I'm pretty sure the fraud was the main driver for CVS change in policy - even though they probably do lose a few bucks per VR, it's a loss leader like any other sales that they run.

So they changed the limit from 1k to 5k to cut down on fraud. 

[TimT]

So they changed the limit from 1k to 5k to cut down on fraud. 

Great point. The fraud part sounds wrong. Enough ways to crack down

[CS1]

Lots of people bought other stuff there. I can't speak for you though.

yes -- All stores like foot traffic, plus the cash flow is excellent, even if there is a processing fee. (I still think that the listed companies pay for a portion.)

[PBaruch]

So they changed the limit from 1k to 5k to cut down on fraud. 

They only did that for the stores in Poland.   

[Lou Bob]

They only did that for the stores in Poland.   

wow.
Really???
Kill the joke. It's over.

[DBK]

I am not sold on the idea that a vanilla reload would be a loss leader & I will explain why.. I am in the food manufacturing business so I can only compare to what I know in my field...
A loss leader is 1/2. Either to get the customer into the store to buy something else that is profitable.. (simple explanation). Or to buy the product again at the normal price as the customer will like it & want it again no matter the price.
The issue I have is that vanillas are $3.95 all year round. And I "personally" dont feel they have anything to gain by offering it at $3.95 at a loss to them.
But the truth is that I couldnt care less as all I care is that they sell vanillas & you can buy it with a CC 

Are you referring to one vanilla cards or MVD?

[Chapshnell]

VR's.......

[EJB]

I think credit card purchase will get cut off tonight.   The author of the memo probably forgot that there are 31 days in March and the POS systems are set to cut off CC purchases on April 1.

Or, he didn't want it to seem like an April fools joke. I'm still hoping it is, even though I'm expecting to be disappointed.

[CS1]

Or, he didn't want it to seem like an April fools joke. I'm still hoping it is, even though I'm expecting to be disappointed.

I'm also hoping that it is.

[yitzy1]

Does anybody know of one vanilla works for BB or only VR? ?

[etech0]

Does anybody know of one vanilla works for BB or only VR? ?

you can take OV to WM and have them load your BB. YMMV if the cashiers will do it and/or if the ATM will work.

[DBK]

VR's.......

I read your message as something in place of VR making you care less for their loss as if there was an equal substitute.

[gilkile]

VR are definitely still alive..Just bought some