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I'd argue that for the customer, Apple Pay is about as quick and easy as it gets. Obtaining a credit card is a one time inconvenience. The potential fees invol
by microtherion 5y ago
I'd argue that for the customer, Apple Pay is about as quick and easy as it gets. Obtaining a credit card is a one time inconvenience.
The potential fees involved would be more of a concern for the vendors, it seems to me. Are you saying that Visa debit cards have higher fees than their credit cards? My understanding was that usually it's the other way around.
- sschueller 5y agoTwint has no fees for the customer and you can send each other money as well. The Vendor pays around 2% Visa has higher fees not for the customer but for the vendors. It's specifically a problem in Switzerland where the "Maestro" bank cards are being replaced with Visa Debit which is being pushed by the banks. The benefit for the custom is they can use those visa cards online but the fees at the store for the vendor are up to 260 times higher. [1] [1] https://www.srf.ch/news/schweiz/neue-debitkarten-visa-und-mastercard-schroepfen-kmu-betriebe https://www.srf.ch/news/schweiz/neue-debitkarten-visa-und-ma...
- microtherion 5y agoFrom the article, it appears like Maestro had a fixed fee, while Visa has a percentage of the transaction amount. Visa claims that small transactions might be getting a bit cheaper, but for big ticket items, the transaction obviously is considerably more expensive.