Solo is a UK debit card introduced as akin to an existing Switch card. It was put into circulation on July 1, 1997 by the Card system (Switch Card ) [1] and was developed for use with bank deposits , as well as for issuing to customers who, according to internal requirements, could not issue Switch cards (or, later, Maestro ) to current accounts , for example, teenagers. The Solo card system lasted until March 31, 2011 and was abolished [2] [3] .
Mechanism of Operation
Multifunctional Solo ATM cards were issued by National Westminster Bank banks and the Royal Bank of Scotland for holders older than 11 years, as well as HSBC Bank (formerly Midland Bank ) for customers older than 13 years; however, RBS Group [4] and HSBC are now issuing Visa Debit in return for Solo cards.
Like its main rival Visa Electron , the Solo card requires electronic confirmation from the issuing bank for all operations. Authorization will not be confirmed if there are not enough available funds in the holder’s account.
Solo cards were tied to the Switch processing system (later during rebranding, which became Maestro ), however, some sellers distinguish Solo and Switch by their number series to prevent online purchases by people under the age of 18. Due to its accessibility for minors, these cards can be used for the simplest mechanism for checking the age of a client. For example, the online store Ocado When accepting Solo cards, they may refuse to sell razor blades or alcoholic beverages to those who pay for such purchases with a card [5] .
Solo cards are also issued for persons with a bad credit history to prevent financial damage to the issuing bank, since it is impossible to pay without a positive balance.
Notes
- ↑ "It's time to go Solo" , About Solo.
- ↑ Barclaycard BIN Ranges and Rules Archived June 30, 2011.
- ↑ "Changes to Solo Card Scheme" (inaccessible link) . Date of treatment April 16, 2013. Archived August 11, 2011.
- ↑ "RBS Switches To Visa for Its Debit Cards" , The Wall Street Journal , 17 September 2008
- ↑ "What payment methods do you accept?" , Ocado help.
Links
- Official Solo Card Website (English) (Retrieved April 16, 2013)
- Maestro UK Website (Retrieved April 16, 2013)
- UK MasterCard Worldwide Website (Retrieved April 16, 2013)