The cut Apple gets come exclusively from the card issuer, not the retailer. The retailer sees no difference in the fee they pay regardless of whether you insert your chipped credit card or use Apple Pay.
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Apple Pay Rolling Out at Target, Taco Bell, and Jack in the Box Across the U.S. in Coming Weeks
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The cut Apple gets come exclusively from the card issuer, not the retailer. The retailer sees no difference in the fee they pay regardless of whether you insert your chipped credit card or use Apple Pay.
Went to Macy's a few weeks back and the cashier was surprised at Apple Pay. She never saw it used before...
That is not true. Walmart does *not* pay a small transaction fee - the ~0.12% ApplePay charges is born by the card issuing bank, not the merchant.
But it is about money, for sure. Walmart's margins are razor thin and has been trying to get its users to use its system (or cash or check) for years as that would allow it to circumvent whatever transaction fees they have to pay to the credit card company (small vendors pay around 3% - I doubt Walmart pays anywhere near that, but it's over 1% for sure.)
Kroger, Lowe's, Home Depot need to get their act together.
I have to say, I don't feel like contactless payments is catching on in the US. Sure, in places like NYC, SF, Silicon Valley etc, I'm sure Apple Pay is very popular. Here in the Midwest/South, when I use Apply Pay, especially with my watch, the cashier looks at me like I just performed some sort of voodoo magic. Or they tell me Apple Pay no longer works and hasn't been used in months. It's quite discouraging.
I have to say, I don't feel like contactless payments is catching on in the US. Sure, in places like NYC, SF, Silicon Valley etc, I'm sure Apple Pay is very popular. Here in the Midwest/South, when I use Apply Pay, especially with my watch, the cashier looks at me like I just performed some sort of voodoo magic. Or they tell me Apple Pay no longer works and hasn't been used in months. It's quite discouraging.
I use a Siri shortcut about 5 seconds before getting to the self-checkout register...
No, it doesn’t. The cut Apple gets comes from the issuing bank, not the retailer.
If you’re talking about the standard credit card fee that all retailers have to pay Walmart Pay doesn’t eliminate that either because Walmart Pay works with your standard credit cards.
Back when ApplePay launched it worked at Home Depot, then they disabled it. At least at my store.
That’s actually normal behavior in European terminals. Because Contactless cards are a physical card you have to “remove away from the screen”
I think usage is improving but it's definitely a generational thing for sure. I'm sure people will start saying that it failed, though, since we don't seem to be all that patient as a country. (Assuming they aren't already doing so, of course.)
For now. Once they get enough people using it, it wouldn't be completely out of the question to start offering incentives not to use them in the app. Say, for instance, 5% off of all purchases if you use ACH instead. A lot of their customer base totally would go for it simply because of the discount.
Then, once enough people opt into ACH or some other form of non-card payment, they can get rid of card functionality altogether. They'd likely still have the discount, of course, to encourage people who aren't already using the app to start doing so. A similar strategy to Target's REDcard, if you think about it (since the Mastercard can't be applied for, only the ones that are usable only in Target).
KFC and Taco Bell/KFC locations use a different system than regular plain Taco Bell.
Oh goody...now my wife can spend money at Target just a little bit faster, and more secure which I am definitely good with.
No, it’s not more complex. It’s literally as simple as enabling NFC payments on your terminal. Enable NFC and Apple Pay starts working. Anything else you want to do like have an Apple logo, etc. is optional.
Simple. They finally enable Contactless. A godsend because Target has the slowest chip readers in the world. And too many questions on the chip readers.
Actually, the banking system was well ahead of the world on this. We were the first country to roll out PayPass and PayWave en masse 14 years ago and before chip and PIN became the norm. Then the tin foil hats came out; people were going to steal your card number from the other side of restaurants while it was still in your pocket, they beat up the banks to remove them from Debit and Credit cards, places like McDonald’s removed the tap terminals... and now here we are, bringing it back because it’s better... like we tried telling those loudmouth idiots to begin with.
Thanks for that link. Very interesting. Not sure I entirely trust that data, though. Simply cannot believe one of the statistics given:
"...24.8% OF USERS WITH IOS OR ANDROID PHONES HAVE SET UP WALMART PAY AND USED IT AT LEAST ONCE IN THE PAST..."
Since neither nobody in my immediate family, including parents, has Walmart Pay, I asked a couple colleagues in the hall - neither have they. Granted, they're professionals, so less likely to frequent Walmart, but still...0 for 8. Hard to believe that 1/4 of all smartphone users have Walmart Pay installed and tried it once.
What is the security risk when your wife is making payments at Target at the moment?
Funny but the Taco Bell/KFC in my area has accepted Apple Pay for years. I use it all the time.
and then there was one.... Walmart looking pretty stupid...so is Target for doing this AFTER the holiday season.
The tipping point is finally upon us! I speculated that it was coming in 2019 a couple weeks ago. Many grocery stores are now accepting it and it was only a matter of time for Target, and Walmart won't have much of a choice now. This is going to be great for customer security and privacy. I've had to get so many new cards issued from various hacks over the years that I now find myself going out of my way to shop at places that accept Apple Pay.
Walmart Pay is tied to whatever card you want it tied to, Debit or Credit card. No Walmart branded card required.