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Also some retail places. Home Depot is a huge retailer in the USA, but they will not accept contactless payments. I assume it has something to do with having to
by irrational 5y ago
Also some retail places. Home Depot is a huge retailer in the USA, but they will not accept contactless payments. I assume it has something to do with having to pay a higher percent per transaction.
- deleted 5y ago[deleted]
- lotsofpulp 5y agoContactless is not more expensive per transaction.
- supertrope 5y agoInitially only “credit” networks like Visa/MC supported tap to pay with interchange fees of 1 to 2.5%. The low fee debit networks did not. Regulated debit is as cheap as 21c + 0.05%. A lot of retailers have thin profit margins of 5%. So contactless adoption would mean more high interchange “credit” transactions and fewer low interchange debit transactions. Thus the retailer resistance to contactless.
- mikecoles 5y agoWormhole attack? Not sure if this is still a possibility though as distance base timeouts could be employed. https://arxiv.org/pdf/1904.10623.pdf https://arxiv.org/pdf/1904.10623.pdf
- djrogers 5y agoThe dumb thing is they have the tech to do it - when they rolled out their new chip readers several years ago, I was in a store where they had accidentally left the contactless reader on for a day or two, and was able to use ApplePay. Next time I went back the reader just feigned ignorance.