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Apple takes quite a huge amount from each payment (~10% I heard) so if you could hook up the same credit card using e.g. Google Pay, the bank would pay only e.g
by krzyk 7y ago
Apple takes quite a huge amount from each payment (~10% I heard) so if you could hook up the same credit card using e.g. Google Pay, the bank would pay only e.g. 5% (I made that number up) per transaction.
Consumers don't see it, so this competition on iOS would benefit mostly banks if you think only about costs, but there is another side to this.
If my bank doesn't support Apple Pay, but supports Google Pay, then I can't use my iPhone to do payments because Apple prohibits Google Pay to access NFC.
- narrowtux 7y ago> 10% per payment that'd be ludicrous. I found a source that says 0.15% which is way more reasonable: https://www.macrumors.com/2014/09/12/more-apple-pay-details/ https://www.macrumors.com/2014/09/12/more-apple-pay-details/
- Ensorceled 7y agoI'm amazed when people assert stuff that is ludicrous on the face of it. Places that have signs that say "no Amex" because it's 1% more fees are also implementing Apple Pay ...
- systemtest 7y agoThis is very reasonable, given that the bank only needs to maintain an integration with Apple Pay and that they don't have to support and maintain an app and all kinds of devices. Apple does that for them.
- Ensorceled 7y agoThat's not true, Apple Pay is competitive with other payment systems. https://support.apple.com/en-ca/HT204274 https://support.apple.com/en-ca/HT204274 Small business would absolutely not be implementing this if the take was 10%