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UK has the same interchange rates and they have Apple Pay. The German banks are just too greedy and invested in their own shitty Girocard scheme which doesn't
by thesimon 10y ago
UK has the same interchange rates and they have Apple Pay.
The German banks are just too greedy and invested in their own shitty Girocard scheme which doesn't even support tokenization which would be required for Apple Pay.
- germanier 10y agoGirocard is cheaper than anything that could be used in the UK. I don't know the UK situation in detail but I would be surprised if there are merchants paying less than 0.3% for some transactions which already is double of what the large German stores do.
- thesimon 10y agoThe interchange which is what the bank gets and which they use to pay Apple. For Maestro/MasterCard Debit/VPay/Visa Debit that's 0.2% in the whole EU (UK & DE included). The girocard scheme negotiates the fees with the merchants and it's around 0.15% - 0.2%. At least for the banks, it's not a big difference.