Australia Considers Case for Opening iPhone NFC Chip to Third Party Payment Systems

[GM…]

Yes.

Credit cards are a bit of a different beast, but I presume most of us have annual fees, plus interest on monthly balance. VISA and stores handle most liability risk. I believe in case of contactless payment vendors like Moneris there are a combination of fees paid by the store. Apple will be taking a % of that revenue.

Bank debit cards... My wife works at a bank, we keep a high minimum bank balance, and therefore no monthly fees, and unlimited NFC transactions. Most I'm sure if they have a minimum balance have some sort of base fee paid each month. Banks handle disputes directly with users. If ultimately a store is paying same price for a POS NFC terminal, and use fees remain the same, there's a likely sizeable bit of revenue Apple is profiting.

I guess this is true everywhere depending on the bank and kind of account one has. Online banks here (in Germany) have accounts without monthly charges and minimum balance requirements and do not charge for card payments. Free cash withdrawals are, however, limited and there are additional benefits with monthly payment. Banks with branches are gradually phasing out free accounts and charging based on monthly income and services provided. And, credit cards mostly have monthly charges and interest on balances as you said.

 

[GM…]

Yes.

Credit cards are a bit of a different beast, but I presume most of us have annual fees, plus interest on monthly balance. VISA and stores handle most liability risk. I believe in case of contactless payment vendors like Moneris there are a combination of fees paid by the store. Apple will be taking a % of that revenue.

Bank debit cards... My wife works at a bank, we keep a high minimum bank balance, and therefore no monthly fees, and unlimited NFC transactions. Most I'm sure if they have a minimum balance have some sort of base fee paid each month. Banks handle disputes directly with users. If ultimately a store is paying same price for a POS NFC terminal, and use fees remain the same, there's a likely sizeable bit of revenue Apple is profiting.

If I was watching every penny I was paying, I would presume it is healthy enough of a cut worth fighting in court to help limit costs. Instead of using our manufactured/secured NFC cards, we are wanting to use your hardware instead... let me pay you Apple, a standard fee for use of that NFC chip not based on transaction amount. Or, argue to a judge nothing. There are third party apps freely using the NFC chip to read/write data already.

We are already paying Apple for the phone. I do not understand why there should be any additional charges.

 

[GM…]

There are third party apps freely using the NFC chip to read/write data already.

I thought this was the root of the problem. Which third-party apps are able to use NFC on iPhones?