Who do you guys think have more power and influence, Banks or Merchants
Who do you guys think have more power and influence, Banks or Merchants
Merchants.
If the NFC functionality is not at the checkout, ..........
Now if the banks offered an incentive to the merchants/retailers to have NFC added to their terminals, that may get the ball rolling.
NFC to banks is a method to promote credit card use.
NFC to merchants is an additional cost with little current return.
Who do you guys think have more power and influence, Banks or Merchants
Customers.
The problem with this is the Banks control the funds. I'm using my debit card with ApplePay. Merchants have no leverage in wether or not NFC will work. If you tell the banks no, they don't have much incentive for consumers to spend their funds if they can loan out the money for a higher interest rate than they are paying a consumer.
Customers.
This. We get the final vote. If I refuse to use merchant systems, like CurrentC, it won't go anywhere.
Not seeing how the banks can drive this.
Banks can remain neutral (NFC/Google wallet) or they can support the method if they have an incentive like they do with Apple pay.
The fraud protection and it's projected cost reductions offered by Apple pay is attractive to banks. The banks can easily incentivize merchants by discounting their fee for Apple pay over other forms of payment.
But you don't need the banks for NFC to work.
Apple Pay works that way.
Google Wallet doesn't.
Most other NFC payment methods, unless issued by the bank don't need the banks permission.
Not seeing how the banks can drive this.
Banks control the money. If they arent on board nothing is going anywhere accept as it relates to cash.But you don't need the banks for NFC to work.
Apple Pay works that way.
Google Wallet doesn't.
Most other NFC payment methods, unless issued by the bank don't need the banks permission.
Not seeing how the banks can drive this.
This is very true. Banks can easily influenced this methodology through discounts or equipment cost reductions but the actual drivers would be through the credit card processors like Visa and MasterCard. The banks are just the card issuers and while have there name on the card as well as the brand, the processor is the one who is going to have the contract with the merchant that sets the rates.
Banks control the money. They can easily block transactions originating from CurrentC.
CurrentC or any other merchant driven ******** is dead on arrival.