How can a store remove Apple Pay? It’s the same contactless tech we’ve been using for 15 yrs?
Not in the US. There, contactless payment really only started in 2014 when apple pay launched. And what stores actually do is disable is the contactless payment tech. They turn off all the contactless readers and stop receiving ALL forms of contactless payment down to contactless cards, not just apple pay.
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Apple takes 0.15% of the total purchase when you use Apple Pay. I believe that’s on top of the credit card company’s fee.
No the 0.15% fee is paid by the banks, not the merchants. If Apple were charging the merchants a fee, they would have made sure apple pay required specific support so that no merchant could accept apple pay without paying the fee to Apple (and apple is extremely harsh when it comes to putting restrictions in place to ensure their fees or avoid lawsuits). That’s definitely not the case and apple pay can indeed be accepted by millions of merchants in countries where it hasn’t been officially launched.
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Where did you get this? Apple
says they don’t charge the merchant any fees.
but they do charge the banks. And that’s about as much as they charge them: 0.15%
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My best guess: Apple was trying to hike fees and milk them some more - and since JCP are already not doing great, they had to call it quits.
No, JCPenney already explained it: There was a deadline set by Visa, april 13th 2019, for all merchants accepting contactless in the US to migrate from magnetic stripe emulation contactless to the more secure EMV contactless. Since JCPenney is not doing well, they decided not to invest in making that upgrade and turned off all NFC readers instead. What I don’t get is why they also removed apple pay from their app and website. That was a really stupid and ignorant move since apple pay online and in apps is a different animal and doesn’t use NFC.
Also, just so you and everyone else in this forum knows, APPLE DOES NOT CHARGE MERCHANTS ANY FEES TO LET THEM ACCEPT APPLE PAY. Proof of this is the fact that merchants accepting contactless payment in countries where apple pay isn’t supported by any of the banks are still able to accept apple pay from users who set it up with cards from banks in apple pay supporting countries. Apple does charge a fee to the card issuing banks (rumors say 0.15%) to let their account holders add their cards to apple pay.
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This probably had something to do with the lack of usage or the terminals/transactions costing them money and it wasn't worth it to them. It's not like teens shop at JC Penny anyway so I'd bet low usage.
The fact that this guy felt the need to take it to Twitter is weird, does he really think using his credit card is not safe anymore because I can bet he swipes that way more than he can use Apple Pay. Get over it dude.
No it had to do with a required upgrade to continue accepting contactless costing money and them not wanting to invest in it because they’re not doing well. JCPenney already explained that and the article above was updated to reflect it.
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Apple charges a 0.15% fee to payment networks which often gets passed down to Merchants even though Apple says it doesn't charge merchants any fees. And Apple Pay isn't just contactless, it generates a secure authorization code for that specific purchase instead of the CC number.
No they don’t charge the payment networks, they charge the card issuers (usually banks) for letting their cardholders add their cards to apple pay.