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Comment on Apple Offers iPhone NFC Chip Access to Apple Pay Rivals in EU

kirklennon@kbin.social ⁨11⁩ ⁨months⁩ ago

LOL what? That’s literally the only thing it is…

Merchants do not have any relationship with Apple for Apple Pay transactions. You tap your phone and it's treated the exact same way as when you tap your card. The merchant sends it to whoever they use for card processing, who eventually sends it to the card network (Visa, etc.) and to the bank for approval. That's what payment processing is. Apple isn't involved at any step. They are involved in the provisioning process where cards are added to your device.

Not correct. Apple doesn’t provide this service out of the kindness of their hearts. They charge 0.15% transaction fee.

Apple charges a fee to the issuing bank, which comes out of their share of the card processing fee paid by merchants. The original (2014) reported fee for US credit card transactions was 0.15%. Card processing fees are, in general, significantly cheaper in Europe (and indeed most other countries). We don't even know if the US fee is still 0.15% but it definitely isn't in the EU.

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helenslunch@feddit.nl ⁨11⁩ ⁨months⁩ ago

Merchants do not have any relationship with Apple for Apple Pay transactions.

Yes, they absolutely do.

You tap your phone and it’s treated the exact same way as when you tap your card.

Not even close. You need to do more research.

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- kirklennon@kbin.social ⁨11⁩ ⁨months⁩ ago
  Have you literally done zero research into this? The vast majority of merchants in the US, and nearly 100% in many other countries, accept Apple Pay. Doesn't that strike you as awfully high if they actually had to sign up for it with Apple? And add an entirely new payment processor to their operations?
  
  Apple is not involved in any capacity with processing Apple Pay transactions when you tap your device in a business. A Visa card loaded on an iPhone is literally just a contactless Visa. Apple Pay = Google Pay = physical contactless card. One single industry-standard protocol.
  
  For web/app transactions, a merchant has to set up Apple Pay explicitly (though it's still actually processed by the same parties as entering the card number) but for in person, they just need contactless payments enabled on their card terminal. No extra steps, parties, or fees.
  
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  - helenslunch@feddit.nl ⁨11⁩ ⁨months⁩ ago
    
    Have you literally done zero research into this?
    
    I’ve clearly done far more research than you have
    
    The vast majority of merchants in the US
    
    No they don’t. The vast majority don’t even accept Apple, Google, or Samsung Pay, credit cards only.
    
    Doesn’t that strike you as awfully high if they actually had to sign up for it with Apple?
    
    No one said they had to sign up for it with Apple.
    
    Apple is not involved in any capacity with processing Apple Pay transactions when you tap your device in a business.
    
    You have no idea what you’re talking about and I’m done repeating myself.
    
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    LongMember69@lemmy.world ⁨11⁩ ⁨months⁩ ago
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    kirklennon@kbin.social ⁨11⁩ ⁨months⁩ ago
    
    I’ve clearly done far more research than you have
    
    I feel like I've entered some Twilight Zone. You just keep repeating the same absurd claims about something but if you had ever researched it in any capacity you'd know how false those claims are.
    
    No they don’t. The vast majority don’t even accept Apple, Google, or Samsung Pay, credit cards only.
    
    "Apple Pay is accepted at over 85 percent of retailers in the U.S."
    
    Look, it's really simple: If a store accepts contactless cards, it by definition accepts Apple Pay. They are the same thing to the merchant. There are zero merchants that take contactless cards but can't take Apple Pay.
    
    As for costs, a random sampling:
    
    Forbes:
    
    One great benefit of using Apple Pay is that it doesn’t cost business owners anything extra. Payment processors consider it a normal credit card transaction, so you’ll only pay regular card processing fees. The only upfront cost involved might be upgrading your POS terminal.
    
    US Chamber of Commerce:
    
    Once you have the right contactless payment-capable POS, there are no additional fees you, the merchant, will have to pay for using Apple Pay. As a business owner, you will pay the same credit card rates and fees as you would for a card-present transaction.
    
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