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> but most vendors don't have it. Is there any financial incentive for them to do the work on installing and maintaining yet another payment method?
by jpmattia 11y ago
> but most vendors don't have it.
Is there any financial incentive for them to do the work on installing and maintaining yet another payment method?
- dangoor 11y agoThe sort of is, now. Retailers in the US that don't support chip cards now have to accept the liability for fraud. For many retailers, that means getting new credit card terminals... and if you're upgrading your credit card terminal, I'm guessing the new one would support contactless payments as well.
- mikeyouse 11y agoThe big incentive came in October of this year, the liability for fraudulent payments at the terminal switched from the card issuer to the merchants accepting payments. This is in coordination with the roll-out of Chip cards in the US. So basically, all merchants are going to have to upgrade their terminals soon and it really makes no difference to their back end whether you pay via credit card or Apple Pay. http://www.emv-connection.com/understanding-the-2015-u-s-fraud-liability-shifts/ http://www.emv-connection.com/understanding-the-2015-u-s-fra...
- rbritton 11y agoThe only incentive I can think of is a potentially lower rate of fraud/chargeback.