Merchant pays it.
okelie dokelie
I guess it´s will never succeed then..
Merchant pays it.
Are you currently paying fees to use your debit/cc card?
Didn't think so.
It's the merchant paying the fees for the convienience of accepting debit/cc cards.
Ever heard of Square? That's just one example.
okelie dokelie
I guess it´s will never succeed then..
Because these banks which agreed to use the old model of credit cards. The rest of the world has moved on a long time ago. Credit cards - especially with the magnetic stripes - are very poorly and more and more rarely used when you live in Europe for example. There are a lot of people owning a credit card for the sole purpose of being able to shop online. Because many online stores just do not allow other cards than VISA, MC and Amex. But the fees you have to pay are horrible. This has started to change the past years, just the same as it started to change about 20 years ago in real life. More modern cards are accepted (especially debit cards, not credit cards) in many online stores which are free of fee just the same way as you do not pay fees when you use such cards in stores. You pay a fixed amout per year for the bank to account your money, that's it. I did not use my VISA for more than a year now and as there is no other use for that piece of plastic in the real life, people start to abandon these cards alltogether.
I did not pay fees per transaction for the past 20 years. Why should I now?
yupp, I understand safety is a valid point... but you still need a bank and a cc, and if you introduce a 3rd party (Apple in this case) whos paying that??
will you get 3 prices: 100$ cash, 110$ Visa and 115$ Apple Pay...
THIS is my favorite part and sets them apart from google wallet. Apple is not really a middle man like google is. You will still get credit card rewards. If I am reading this correctly, This is HUGE!
Where are you shopping where you hold everything in your arms while making payment?
Because blackberry and everyone else provided insecure NFC implementations with high fraud rates. My understanding is NFC payments have been charged at the much higher rate charged to phone/internet orders.
Yeah it may even be that retailers only accept apple pay for NFC as other set ups are much more prone to fraud which means card processors would charge retailers a much higher rate than apple pay.
Chip & PIN is still very new to the US, I don't even think all banks have issued chipped card yet (I'm not in the US so can't say for certain).
Which is why ApplePay seems to be great in the US, rest of the world probably not as big a deal.
The banks are going to take a portion of that fee and give it to Apple.
It'll succeed just fine.
"give" ?? what kind of bank are you talking about?
At first I loved the idea of Apple Pay.
However the more I think about it, the more I feel that until adoption rate is at 90-100% in all stores across the US then its really not worth it.
I would still need to carry my cards around anyways, why not just use my card.
Until it comes to a point where I no longer have to carry my cards around, then I think I'll fully jump on board. But right now its just an addition to my cards I use.
Would i have to ask the merchant everytime I use my cards "Hey do you accept Apple Pay", that will get annoying quick.
At first I loved the idea of Apple Pay.
However the more I think about it...
Just think of how many phones will need repairing / replacing as well as people swing them out to swipe them whilst trying to gather their shopping and drop them. I have fumbled my credit card a couple of times so something as heavy as a (larger) phone with my thumb rests only on the bottom?
Even more revenue.
Now thieves will not only steal your phone, they'll cut your finger off too. Minority Report here we come.![]()
With Google Wallet, you of course get your usual rewards on cards that go by purchase amount.
What you might not get rewards for, is if you use a store specific card. I can't think of any that I personally use over my major cards.
For instance, I have a Sears card but I never have it with me, so I have the checkout person enter my Sears reward number and I pay with my Mastercard that gives me miles instead. And with CVS, grocery, etc, they scan my customer card on my key chain or in Google Wallet or Apple Passbook.
Now, if Apple has a deal where CVS has my CVS award card associated with my Apple Pay account, that would save a few seconds at checkout, so I like that (although I can understand if some don't).
Piss poor attempt at a joke.
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The banks will pass that fee onto us customers. I wonder how much this fee will be as we'll be paying it.
Are you currently paying fees to use your debit/cc card?
Didn't think so.
It's the merchant paying the fees for the convienience of accepting debit/cc cards.
Ever heard of Square? That's just one example.
Now thieves will not only steal your phone, they'll cut your finger off too. Minority Report here we come.![]()
Thats not how it works. Actually its more like the merchants will charge the highest price the market can profitably sustain regardless if the payment type is cash, credit cards, Apple Pay or not.
Cash is by far the easiest to steal hence the reason companies went with credit cards. Credit cards are slightly less easy to steal than cash. Apple pay is less easy to steal than credit cards.
What's interesting with all this, is that Apple requires you to enter your ID password every X minutes to prevent iTunes shop purchasing errors.
Are you currently paying fees to use your debit/cc card?
Didn't think so.
It's the merchant paying the fees for the convienience of accepting debit/cc cards.
Ever heard of Square? That's just one example.
WRONG AGAIN ... customer pays it.