Thread

Banks and Credit Unions to Team Up Against Apple Pay Fees

127 points · 133 comments · Brajeshwar

havaloc · 1790442549 · focus · HN ↗
I get why the banks are not happy, but I can tell them that I am not going to use Chase Wallet, Bank of America Wallet, Citi Wallet...just pay the fee and be thankful for the reduced payment friction, which they invariably make money from. PS: Nobody is going to use Paze (yet another half baked wallet), other than to collect the free $10 to sign up for it.
Somewhat related, even Walmart relented and now supports Apple Pay/Contactless. Every big merchant has now relented (Kroger, Home Depot, Walmart).
1. radialstub · 1790448131 · focus · HN ↗
  This is the government's problem. I tend to be on the side of less government, but it is so obvious that payment facilitation should be a service provided by the government. The government is just allowing corporations to collect rents, because they are lazy and incompetent.
  1. bnjms · 1790451828 · focus · HN ↗
    They’re more like taxes than rents. It’s a constant cost applied to all goods because of the ubiquity of use means we pay with or without playing the credit card/payments game.

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