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. syvolt · 1790444937 · focus · HN ↗
  Or Apple Pay can just be like Google Wallet is on Android? The alternative is not multiple apps.
  1. add-sub-mul-div · 1790448179 · focus · HN ↗
    Another alternative (in the US, at least) is tapping a piece of plastic instead of your phone and not inviting any of the tech giants into your transactions at all. What an unforced error, to shovel more of your data at them needlessly.
    Elfener · 1790448444 · focus · HN ↗
    That is much better, but you're still paying visa/mastercard some percentage fee for a service which should be provided by e.g. the central bank.
    expedition32 · 1790455646 · focus · HN ↗
    Banks in the Netherlands used to have their own system for 30 years. It was free. It worked.
    But it was too much work and didn't make the banks money so now we are also left to the American Visa parasite.

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