Marsha Stopa reports on the debit vs. credit card at POS debate.
“The whole thing is very disturbing because Visa and MasterCard are owned by banks,” said Scott Horsburgh, chief investment officer with investment manager Seger-Elvekrog Inc. in Bloomfield Hills. Horsburgh’s stock research specialty for many years has been the electronic payments industry.
“Consumers would settle this in a second if they knew all the facts. The consumer is the one who pays or gives up rights,” Horsburgh said. “Let people make their own decision. This is a consumer issue and the consumer doesn’t know that.”