apple pay killed by lack of promotions

Discussion in 'iPhone' started by tritron, Nov 4, 2014.

  1. tritron, Nov 4, 2014
    Last edited: Nov 4, 2014

    tritron macrumors regular

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    #1
    There is not hype about apple pay is because there is no promotions. softcard gives out amazon gift cards, american express gives out $50 a month with softcard. Apple pay sells same old credit cards with same fees and it requires stores to spend tons of money on new equipment. Why apple being a business does not offer incentives to other businesses. I think apple could get credit companies to offer discount if apple pay is more secure. Someone can still your credit card but no one can use your apple pay.
     
  2. bradl macrumors 68040

    bradl

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    #2
    What are you talking about? Apple Pay is not a card issuer.

    BL.
     
  3. PNutts macrumors 601

    PNutts

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    #3
    So much wrong with this thread I've reported it and moving on.
     
  4. deeddawg macrumors 604

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    #4
    Yep, four sentences of which three are factually incorrect.

    The ignorance is strong in this one.
     
  5. GoCubsGo macrumors Nehalem

    GoCubsGo

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    #5
    Why? Because they don't issue credit cards pal.
     
  6. Newtons Apple macrumors P6

    Newtons Apple

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    #6
    All of this is too typical:p
     
  7. JayLenochiniMac macrumors G5

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    #7
    Just because someone is misinformed or misguided isn't a reason to report a thread. Otherwise, a good number of posts here would get reported.
     
  8. PNutts macrumors 601

    PNutts

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    #8
    That's fair. Since nobody else has given a good complete ;) answer here's mine.

    First, I consider the title to be a troll title. Apple Pay wasn't killed.

    I don't disagree. What they are saying is that Apple could do promotions and cited credit cards as an example. Maybe Apples and oranges, ;) but this sentence is not claiming that Apple issues credit cards.

    Oopsies. Apple pay uses your existing credit card accounts, it doesn't sell credit cards.

    Apple Pay shifts the costs from the merchant to the bank so merchants are saving 1% to 3% of the sale. That's some open ended big bucks for an equipment upgrade.

    Again, they could offer incentives but the 1% to 3% is already pretty attractive to business. And those business may offer the cash discounts some already offer to Apple Pay when those fees go away (yeah, right. Wipes tears of laughter from eyes).

    And... it's attractive to me as someone who has used their credit card at three companies that were breached in the past 18 months.

    Sorry, I consider posts that are this much work to potentially be a prank but I will be more thoughtful next time.
     
  9. deeddawg macrumors 604

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    #9
    To be specific, OP said there are no promotions. Since Wells Fargo is offering a promotion to customers to try ApplePay, OP's first sentence is incorrect.

    Please expand on where this savings is coming from for the merchants. I'm not aware of them realizing any discount on their credit card processing fees for Apple Pay transactions vs card-swipe transactions today (or EMV chip+sign in a year).
     
  10. Newtons Apple macrumors P6

    Newtons Apple

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    #10
    Maybe they should be reported for not being blind Apple Fanboys!:p
     
  11. tritron thread starter macrumors regular

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    Oct 5, 2014
    #11
    I did not know about wells fargo 20$,but so far I received 300$ from american express serve and free stuff from vending machines for using soft card.
    Ihope apple pay can have promotions that will generate buzz on slickdeals or fatwallet forum more and more people will use it. I don't think banks would eat fees on apple pay because they could not afford to provide free checking accounts those visa fees are paying for not ach. If apple would subsidized fees
    then walmart would be joining apple pay. Last year sales where 466 billion that is 1.5 billion a day so 1% of that is 150 million in fee. I am sure if walmart did not have to pay 1.5% 225 million a day they would be all over it.
    even saving of 75 million .5% will get Walmart on board this will give walmart
    profit boost by few billion of dollars. I think apple should push to replace wallets with iphones. If we could take picture for passport or drivers license and have it uploaded to iphone would be very cool. Having insurance card and drivers license on iphone would be cool. nfc could be used at bars night clubs.
     
  12. 617aircav Suspended

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  13. JayLenochiniMac macrumors G5

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    #13
    Again, you're misinformed. The banks are already subsidizing the fee and it comes out of the transaction fees that they already charge the merchants. The merchants do not pay any extra fees. The idea is Apple Pay will reduce fraud (through tokenization) so it'll be cheaper for the banks in the long run.
     
  14. tritron thread starter macrumors regular

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    Oct 5, 2014
    #14
    That is interesting, what is the cost of transaction to the merchants, Ihave iphone 5s 6 and 6 plusand ipad mini. so I am not trolling here at all. As a customer I recognize the security of apple pay over using my credit card. I think if there were great promotions I would be more inclined to try it. Does apple pay stores recipts ? i am looking forward to the day we have iwallets
     
  15. sviato macrumors 68020

    sviato

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    #15
    The merchant pays no extra fees. I believe it stores a record of your transactions.
     
  16. MasterRyu2011 macrumors 65816

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    Aug 22, 2014
    #16
    I think the average Joe will be inclined to know of Apple Pay more than competing services like Google Wallet. Anything Apple releases is hyped compared to the competition, save for maybe Samsung.
     
  17. tritron thread starter macrumors regular

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    Oct 5, 2014
    #17
    Who covers the 1.5% and 10 cent visa charges ?
     
  18. Gathomblipoob macrumors 601

    Gathomblipoob

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    #18
    I don't need giveaways or promotions to want to use Apple Pay. I just want to use a secure, easy payment system. What a silly concept.
     
  19. JayLenochiniMac, Nov 4, 2014
    Last edited: Nov 4, 2014

    JayLenochiniMac macrumors G5

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    #19
    The bank (not the merchant) pays Apple 0.15% and it comes out of the transaction fees (typically 2-3%) that the bank already charges the merchant.

    Apple Pay is basically self-promoting for the built-in security and ease of use. If you don't get this, you don't get it.
     
  20. tritron thread starter macrumors regular

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    Oct 5, 2014
    #20
    I get that but google wallet offers the same security and where it is now ?
     
  21. CoilTap macrumors regular

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    Sep 19, 2014
    #21
    This is not true. Merchants pay the same fees they always have. Apple charges an extra 0.15% to the bank on the backend. The merchant never sees that charge and just continues paying whatever fee they pay for the type of card you used.
     
  22. JayLenochiniMac macrumors G5

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    #22
    It never took off, as was the case with MP3 players, tablets, touchscreen phones, fingerprint scanner, etc. Sometimes it takes Apple to get people to adopt the new technology en mass.
     
  23. Zetaprime macrumors 65816

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    Ohio, US
    #23

    True. It's just a secure way of linking your phone to a credit card. It's up to the banks to join in and for businesses to adopt and have the point of sale hardware installed. So far I've only used it at McDonalds and it works just as advertised. I wish it would become universal as the extra layers of security are most welcome and would have prevented the kinds of large scale security breaches that have occurred at Home Depot and other retailers.
     
  24. aggiesrwe03 macrumors regular

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    Jan 25, 2009
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    TEXAS
    #24
    Apple Pay isn't meant for the consumer so much as it is the merchant and the card companies. There are other solutions that are geared more toward the consumer; coin, Plastc, and loop to name a few. Not to say that the consumer doesn't benefit via security and convenience, but the end goal with apple pay is cold hard cash... I'm ok with that, however, I find it still years away from being adopted by local, and regional banks, therefore as excited as I was it is currently useless to me.
     
  25. goobot, Nov 4, 2014
    Last edited: Nov 4, 2014

    goobot macrumors 603

    goobot

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    #25
    No it doesn't, stop posting if you have no idea what you are talking about.
     

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