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Apple Pay Officially Launches in Italy
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Apple receives 0.15% share of each transaction from the bank (not the merchant). Apple does not know where/ and what you are buying.
A lot of shops in Italy don't support credit card either, especially if you go in small villages.
"Sorry, only cash, the POS broke yesterday and we haven't fixed it yet".
I always have some cash with me, "just in case"
How much do Visa/AE/Mastercard charge a bank for each transaction?
As far as you know the bank has to pay Apple's fees and even the credit card fees?
well, the banks get that money back (plus more) by charging the merchant a fee...
I suppose so, what I was wondering is if Apple Pay is more expensive than supporting a traditional credit card.
I think it is just because they cannot say "Germany" since officially Apple has not said anything about the arrival of Apple Pay in Germany.
By the way, I'm pretty confident that N26 will become available at the same time in Italy and Germany, thus why it is not available from the very beginning in Italy.
Well, ample patience to await His Decision then.
This says more about those who appaise services not implemented successfully or at all - the iPhone 6's lifetime advertisements leading to nothing.
If that's your norm, "because it is Apple", be happy with it.
Some think different though.
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Don't forget, most credit cards have a yearly fee (between 30 - 110€). I could see that banks do not support all credit cards they offer. There are rumours that banks have to pay a yearly fee for around 7€/card (opposed to the transactional based calculation in e.g. USA).
In 2015, the EU (w/o Switzerland) decided to cap the transactional fees by 0.30% of the transaction value. This would mean, if Apple wanted to apply their banking fees, they would receive 50% of all the fees.
This might be a reason, why Apple delayed the Europe launch of Apple Pay.
You hear or experience that? I think it was the case where few supported AP but in the past 6 months my experience is that has really changed. I'm finding a lot more stores have it now even if they don't widely advertise it. And with an AW that is a pretty fantastic experience not having to drag out the wallet but most importantly not having to fool with the damn chip CC.
But if it's going to be available in Germany that would automatically mean it's available in every country where N26 operates because bank is german and all account have German ibans?
Yes and no.
Yes: It's the biggest economy in Europe
No:
Germany is still a cash country (over 50% of all transactions are paid by cash).
Yeah, it looks like it's at about 15%, second group in Italy. I was under the impression that it had a much bigger share.
Interesting tidbit:
Apple Pay in Italy support Maestro an VPay. These Cards are the main cards used in Germany (giro card)...
Apple Pay in Italy support Maestro an VPay. These Cards are the main cards used in Germany (giro card)...
Yeah, that sounds plausible. If Apple wants 50% of the "cake" (0.15%) from what bank are allowed to charge the merchant (0.30% since 2015 on credit cards, 0.20% on debit cards), I'm sure the banks are not happy about that.
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Caution: Maestro, V-Pay and GiroPay are three different systems! In Germany, there are a lot of (smaller) merchants, that only accept GiroPay (former "EC-Karte" - now "Giro-Karte"). --> https://www.bezahlen.de/maestro-vs-vpay.php
So when the merchants say, they only accept "EC" cards, they mean giro cards. That excludes usually Maestro, V-Pay and credit cards (Mastercard, Visa, AmEx).
German banks most of the times combine either Maestro or V-Pay with giropay--> there are both symbols on the card.
BUT there are banks like N26, that only issue Maestro cards without giropay (besides the Mastercard of course). I can't pay with the N26 Maestro card if the merchant only accepts girocards.
The girocard system only exists in Germany.
Therefore, if ApplePay in Germany only includes Maestro, V-Pay and credit cards, you can only use it where the merchants accept those systems.
I'm not so sure. The IBAN is always German but the N26 MasterCard gets the nationality of the country to which they sent it to you.
****, why does it has to be so convoluted.
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Could be, but it is still handled by the issuer bank which is N26. **** why does everything have to be so artificially confusing and restrictive.
I agree. But it is interesting to see that they support this cards for the first time in Europe. I tend to lean, that they are starting to implement those country specific card system.
I still have a german account with a direct bank and my banking card supports Maestro, giro card and girogo (though it's still not contactless as the card is up this December).
Since Apple Pay launched, I have seen a single major store start supporting it, Best Buy.
Around here, Target, Wal-Mart (we know that won't happen), Costco (I see the symbol but not sure it is working), Publix grocery, Chipotles, etc. - no worky for me.
If they do support it, I don't see any mention or logo.
I love using Apple Pay, but sadly it is rarely supported by stores in NYC. In fact I see new point of sale systems all over the place that don't support Apple Pay. We used to have it in our cabs, but then it got pulled out and replaced with a system that doesn't accept it.
I hope it sticks in enough places overseas that it will eventually come to NYC. It does seem to be the best payment system invented so far.
I hope it sticks in enough places overseas that it will eventually come to NYC. It does seem to be the best payment system invented so far.
+1When is the Netherlands gonna get Apple Pay? We've got many, many NFC readers out here. Could really benefit from something like Apple Pay. I would use it a lot!