Visa Debit or Mastercard Debit Card with a Cashback | Credit card reward programs | Discussion forum

Rogers World Elite Mastercard has no annual fee, 1.5% cash back on CAD purchases & 3% cash back on USD purchases

https://www.rogersbank.com/en/rogers_worldelite_mastercard_details

matkokubko said
I'm looking for Visa Debit or Mastercard Debit card that pays Cashback. 

What is the advantage of a debit card over a credit card that pays cashback rewards?

Stephen

Such a card is mythical as the federal government has blocked Mastercard Canada and Visa Canada from requiring merchants to accept Mastercard debit and Visa debit if the merchant wishes to accept Mastercard credit and Visa credit cards.

Merchants won't accept Mastercard debit and Visa debit for in-person transactions because debit via Mastercard or Visa have credit-card-like interchange fees while debit via Interac does not. That's likely why no Canadian financial institution issues a debit card that's just Mastercard debit or Visa debit and would not be accepted in-store.

The challenge with cashback on Interac debit is there is no interchange to the card issuer for in-person Interac debit. Interac itself collects less than 10¢ on such transactions. That's why merchants like Interac debit.