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Many Retailers Hesitant About Offering Support for Apple Pay
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apple must really be asking for quite the transaction fee for everyone to be so hesitant. They really like wielding their power.
What?
You think sit-down restaurants will completely change the way they do business and suddenly start bringing NFC terminals over to tables with the check just because Apple decided to put an NFC chip in their phone?
I wish I shared your unique sense of optimism.
It has nothing to do with Apple. It has to do with the fact that mag stripe is done. $2-3k is a lot for a new terminal, but it's nothing compared to the liability they will carry for ongoing breaches of existing card tech.
The only problem with that statement is NFC has only been available for purchases for about 3-4 years. Maybe 5...
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Oh great. Yet Another proprietary service to have to sign up for...
Banking in Canada is generally more advanced because we only have five major banks. The five Canadian banks generally work well together through organizations like the Canadian Payment Association and the Canadian Bankers Association.
The US banking system is much more decentralized, so it's much harder to standardize and coordinate amongst the banks.
In terms of payment technology, the US is so far behind, they have no choice but to play catch up as this point...
Credit Card swipe is no longer an option here in Australia - it's Chip & Pin or NFC only.
I can't remember the last time I swiped a card or the last time I signed for anything (you cannot sign for a transaction anymore, it's pin only). When paying for anything under $100, I just tap my card against the reader and the payment is authorised - don't even need a pin. On purchases greater than $100, I still tap my card on the reader but it asks for a pin.
It's way quicker than the older method and is already in widespread use in pretty much every developed country around the world.
I see your point, it does technically introduce an extra step.
A lot of people do use OpenTable to make a reservation though. And OpenTable has been already working on allowing people to pay their bills from their app for some time. ApplePay happened to come along, and they'll be supporting that too within their app. It's just another option.
I really do think so. The idea of another static, hack-able identifier for these transactions is stop-gap at best.
Hesitancy is not in the transaction fees. Hesitancy for most companies is in the cost to convert to NFC terminals. Until a company sees a financial benefit they aren't going to spend money to update terminals that would not increase their revenue.
Apple's 1.5% is coming from the banks and payment networks, NOT the retailer. Here's the link to MacRumors own news post about it.
I think you're misunderstanding what Apple Pay is. Apple Pay is not a bank or another type of credit card. It merely provides a different way to pay with your existing cards, so if Costco ever started accepting NFC (and from a retailer standpoint, Apple Pay and NFC are the same thing, if you accept one you accept all), they would still only support AmEx via NFC payments.
Restaurants have been bringing terminals to the table since chip cards became standard - that has been close to 10 years or more?
my pref would be for the merchant to just direct me to their web page where I could pay. That way the merchant can select the best option for them to process the payments (e.g. PayPal, their bank, etc).
Chip cards are not hackable; the chip on the card does a handshake with the payment network:
http://en.wikipedia.org/wiki/EMV#Transaction_flow
FWIW, with chip-and-PIN in Europe they bring a card reader with a keypad to you. You never have to give your card to anyone.
Which is far better than what we have here, where the waitress disappears for 5 minutes with your card, then comes back with a piece of paper for you to sign.
Just sayin'...
Since Andriod was the only system that supported them at the time I can see the justification of shutting them for lack of use. I know lots of mobile phone users that purchase Android just for the simple fact the devices are free and these are in no way tech savvy individuals. I can't see this type of user having any interest or utilization of NFC payments.
I think he meant to say since chip and pin were available. Chip and pin came before NFC.
What?
You think sit-down restaurants will completely change the way they do business and suddenly start bringing NFC terminals over to tables with the check just because Apple decided to put an NFC chip in their phone?
I wish I shared your unique sense of optimism.
A few restaurants where I live have NFC payment systems attached to the table, you can even reorder drinks through it and it has games on it for kids, pretty cool actually.
Weve learned and struggled for a few years here figuring out how to make a decent phone. PC guys are not going to just figure this out. Theyre not going to just walk in.
November 16, 2006, Palm CEO, Ed Colligan