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AM I the only one who think this is a good thing? Why am I paying 2-3% Credit Card tax for every purchase when I can pay from my Bank account directly? Apple a

by kumarm 12y ago

AM I the only one who think this is a good thing? Why am I paying 2-3% Credit Card tax for every purchase when I can pay from my Bank account directly? Apple and Google took the easy way out to base on existing Credit Card infrastructure where ultimately consumers are paying for it. Retail is a low margin business and 3% definitely is a big deal.

earless1 12y ago
Do you really want these guys to have direct access to your bank account given their track record for data breaches? On top of this you get no credit card protection, no rewards points on your card, and no double warranty which most cards give these days.
- te_chris 12y ago
  You're thinking too small. It's possible to have a payment infrastructure that doesn't give Visa and Mastercard money, and it's possible for it to work really well. https://en.wikipedia.org/wiki/EFTPOS https://en.wikipedia.org/wiki/EFTPOS
  - rweir 12y ago
    note that in practice EFTPOS is getting beaten down by still not doing contactless, while Visa Debit/Mastercard Debit contactless cards are ubiquitous in Australia, and banks pushing Visa/Mastercard Debit for the higher interchange fees.
dingaling 12y ago
> Why am I paying 2-3% Credit Card tax for every purchase when I can pay from my Bank account directly? Plus another 0.15 to 0.20% for these NFC payment processors. The banks and card processors won't be paying that to Apple / Google, it falls to the merchant to dig it up.
BrandonSmith 12y ago
In the U.S., the credit card fee is built into the retail pricing structure regardless of using credit or debit card, or cash/check. I use a credit card exclusively to get personal Net 30 terms for every purchase I make. If a purchase is "same as cash" and I get to delay actual payment for 30+ days, I'm going to take advantage of that. If pricing structures change, then I will reconsider. For instance, most gasoline in the U.S. once had two prices. One for cash and one for credit cards (this was before debit cards). Recently, their is evidence of the return of such: http://www.forbes.com/sites/halahtouryalai/2011/10/21/cash-or-credit-at-the-gas-pump-the-choice-is-costing-you/ http://www.forbes.com/sites/halahtouryalai/2011/10/21/cash-o...

by kumarm 12y ago

earless1 12y ago

Do you really want these guys to have direct access to your bank account given their track record for data breaches? On top of this you get no credit card protection, no rewards points on your card, and no double warranty which most cards give these days.

te_chris 12y ago
You're thinking too small. It's possible to have a payment infrastructure that doesn't give Visa and Mastercard money, and it's possible for it to work really well. https://en.wikipedia.org/wiki/EFTPOS https://en.wikipedia.org/wiki/EFTPOS
- rweir 12y ago
  note that in practice EFTPOS is getting beaten down by still not doing contactless, while Visa Debit/Mastercard Debit contactless cards are ubiquitous in Australia, and banks pushing Visa/Mastercard Debit for the higher interchange fees.

dingaling 12y ago

> Why am I paying 2-3% Credit Card tax for every purchase when I can pay from my Bank account directly? Plus another 0.15 to 0.20% for these NFC payment processors. The banks and card processors won't be paying that to Apple / Google, it falls to the merchant to dig it up.

BrandonSmith 12y ago

In the U.S., the credit card fee is built into the retail pricing structure regardless of using credit or debit card, or cash/check. I use a credit card exclusively to get personal Net 30 terms for every purchase I make. If a purchase is "same as cash" and I get to delay actual payment for 30+ days, I'm going to take advantage of that. If pricing structures change, then I will reconsider. For instance, most gasoline in the U.S. once had two prices. One for cash and one for credit cards (this was before debit cards). Recently, their is evidence of the return of such: http://www.forbes.com/sites/halahtouryalai/2011/10/21/cash-or-credit-at-the-gas-pump-the-choice-is-costing-you/ http://www.forbes.com/sites/halahtouryalai/2011/10/21/cash-o...