would go through the pain of switching accounts and changing bank cards
What pain? Switched from Barclays to Santander within 7 days, everything transferred over and anything missed will be automatically rerouted for 3 years
would go through the pain of switching accounts and changing bank cards
Wonderful. Since the July 14th launch we've been told by Barclays, they had no plans, to 'hey we fired our CEO because of the backlash, imminent support on the way chaps' (To me imminent sounds like a couple days) but no it could be up to 9 months post stating imminent support?
I'm really not sure how that works, once more I'm dumbfounded how their US counterpart adopted it with open arms.
Sure, of course it can be simple depending on the services you have. But (not talking about my own situation here) with mortgages, ISAs, joint accounts, insurance add-ons, and cards registered with websites it really is a pain for some people. But yes, not a one-size fits all problem, I agree.What pain? Switched from Barclays to Santander within 7 days, everything transferred over and anything missed will be automatically rerouted for 3 years
Strange thing happened a few weeks ago when I got myWatch at the Selfridges Apple watch store. when the sales person saw my iPhone she asked me if I wanted to use
PAY. I did not think about it at the time as I was using my AMEX from another bank account, and said no thanks I want to use my AMEX card! then I thought about this afterwards as the watch with AppleCare is way over the 30 pounds limit I thought was in place? anyone used it in the UK to make big purchases over 30 pounds? do
stores have no limits in the UK? hope this is not true! as
PAY is very bad for my bank balance as I use it min 4 times a day just because it is so easy
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You should actually be proud that a UK institution tried to stand up to Apple's desire for money and data that should not belong to them, unlike major US banks which wimped out at first.
You should actually be proud that a UK institution tried to stand up to Apple's desire for money and data that should not belong to them, unlike major US banks which wimped out at first.
Which retailers have you had >£45 success at? If they are national retailers that is.
Yet more US banks and credit unions accept it every month so apparently Apple's terms aren't stopping them.
It took a year for Discover to support it. The overwhelming majority of US card providers still don't support it.
The cost and effort to support Apple Pay can be pretty significant, unless you pay a middleman to do most of it.
The last two items are things that politically hold back banks. They don't see much reason to pay Apple for doing nothing except providing registration to the phone. Especially in places where EMV already existed with little fraud. They don't like having the CC schemes (MC/V/A) in the middle. And they certainly don't like sharing previously proprietary purchase data with Apple.
- At the least, they have to set up both automated and staffed card registration methods, hooked into Apple's servers. That's going to require perhaps new call centers.
- Then they have the choice of either paying Mastercard/Visa/AMEX to handle tokenization (like smaller banks do), or setting up their own to save money. Probably the latter.
- They have to set up procedures to pay MC/V/AMEX the royalty which those entities will then pass onto Apple.
- They have to set up systems and procedures to send Apple the purchase data it demands back from banks.
When Apple Pay was announced, credit unions were worried that there was no way for them to afford Apple's fees. They were afraid that they'll get squeezed out by the richer banks.
Some (mostly bigger ones who can afford the fees without taking a loss) have signed up, hoping to win the hearts of younger people, but the number who have committed so far is quite low. After a year, there's still only about 300 credit unions signed up out of something like 7,000. That's 4% of the US credit unions.
For that matter, including banks, Apple Pay is only supported by about 500 issuers. That's out of about 11,000 in the US alone. Again, 4-5%.
It's really too bad Apple is so greedy. Otherwise, there'd be far greater uptake by issuers. Perhaps, as happened with iAds (another attempt by Apple to use its customers to make money), the fee will drop.
Strange thing happened a few weeks ago when I got myWatch at the Selfridges Apple watch store. when the sales person saw my iPhone she asked me if I wanted to use
PAY. I did not think about it at the time as I was using my AMEX from another bank account, and said no thanks I want to use my AMEX card! then I thought about this afterwards as the watch with AppleCare is way over the 30 pounds limit I thought was in place? anyone used it in the UK to make big purchases over 30 pounds? do
stores have no limits in the UK? hope this is not true! as
PAY is very bad for my bank balance as I use it min 4 times a day just because it is so easy
![]()