As has been pointed out elsewhere, merchants don't pay for ApplePay - they pay the same fees on a transaction as they would for any other MasterCard. The only cost is when they upgrade the PoS terminal. There are some small fees between the banks and Apple but the banks are happy to pay that fee because they make more than the fees in reduced fraud charges.
There are inter-bank fees. I learned this when I change to bank that had to higher fee and could not use services like this.
Hope they fix the terminals. Only time I ever need to use mag stripe is on a loose terminal where the chip can’t be read 3 times in a row. Happens more than I can count and I’m not moving all my stuff to a different terminal in the hope it will work.It’s not a rumor. Mastercard announced in 2021 they would phase out magnetic stripes from their cards. As of 2024 they have implemented that. The border EMV industry is following with a cessation of mag stripes for the US in 2027 and worldwide by 2033. Pretty soon the only new card or replacement card you will get is one without a mag stripe and only the enhanced EMV chip that can store biometric data as an option plus the already existing Tap To Pay feature. Here’s one of many articles from the industry about this.
[Updated 2024] Magnetic Stripes to EMV Cards
What is a Magnetic Stripe Card? It generates time-sensitive authentication codes for every transaction to add a layer of encrypted security.merchantadvocate.com
Funny you mention that. Last time I had to use one was in a cab in Quebec City in 2013
For things we buy, Walmart is no lower than Target in our area. Yes, they have some lower quality items for less. But, if they have it at Target, the same or at times lower at Target. Again, in my area.
Wal-Mart doesn’t need to explicitly accept Apple Pay. But they do need to start accepting contactless payments, using aPCI SSC-listed validated P2PE Solution. But they won’t, because they don’t care about customers’ privacy and security.
Walmart still does not accept contactless payment options like Apple Pay and Google Pay at its more than 4,500 stores across the United States.
It is not the first time that we have reported on this topic, but Walmart has still not changed course, despite endless customer complaints.
Earlier this year, a Walmart spokesperson told MacRumors that the retailer remained focused on its own payment technologies in the Walmart app, including Walmart Pay and Scan & Go. We have followed up with Walmart today to see if that remains the company's position, and we will update this article if the company responds.
Of course, Walmart's payment systems also allow it to track a customer's purchase history.
Walmart Pay allows customers to scan a QR code displayed at checkout to pay for their purchase with a payment card stored in the Walmart app. Scan & Go allows Walmart+ members to save time by scanning barcodes on items while they shop, rather than having to scan all of the items at a self-checkout register later.
Apple Pay launched more than 10 years ago, and it was accepted at more than 90 percent of U.S. retailers as of 2022, according to Apple. Some other major Apple Pay holdouts in the U.S. have reversed course and started accepting it over the past few years, including The Home Depot, Lowe's, Kroger, and Texas grocery store chain H-E-B, leaving Walmart as one of the country's only major retailers that does not accept Apple Pay.
There is an exception: Walmart has accepted Apple Pay in Canada since 2020.
Article Link: Walmart Still Doesn't Accept Apple Pay in U.S. Despite Daily Complaints
I mean blame the people stealing not the business for protecting their products.
It depends where you live. Other than Walmart almost 99.9% of my transactions are Apple Pay. Even government offices and my bus and train system.
It isn’t. I am an Apple Pay fan and I hate that Walmart and Kroger held out, but I have come around to using their apps and Walmart pay and Kroger pay. I prefer Apple Pay but it’s just like any of these companies and their benefit programs.
ACH debit is much much cheaper... on the order of pennies, compared with credit card
They may encourage it, but I have always added my cards and had no issues doing so. I also have never seen where it was prioritized on the Walmart App wallet to add my account and routing number over adding a card. The biggest issue with Walmart Pay is the long delay to get it opened when you want to check out if you don’t preload it. This is even if you long-press the icon and select Walmart Pay. I usually use it at the gas pump and use scan n go in store. Walmart pay in store used to be fairly good if the app was open, but the last two times I went (we usually do grocery delivery), something had changed and i couldn’t just scan the QR Code — it was making me do something else within the app to be able to check out, which was annoying and took me longer to figure it out than it would have to just pay and walk out (I was determined to solve it since I had already scanned my items). Anyway, I would much prefer ApplePay to Walmart Pay, but I go infrequently enough in the store that it matters very little.
Not really. The USDA is already putting merchants nationwide on notice that EBT cards with EMV chips and Tap To Pay are rolling out soon . They are telling merchants that although the cards will have mag stripes as a back up they must begin to upgrade terminals to accept EMV chips. Tap To Pay right now is not required but is strongly encouraged . This is from July of this year….
It's already turned off. You said they need to get new readers, but they don't.
