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Banks and Credit Unions to Team Up Against Apple Pay Fees

127 points · 133 comments · Brajeshwar

  1. gumby · · focus · HN ↗
    Initially I was casually (didn’t dig into the issue) fine with Apple allowing only a single access to payment via NFC due to the opportunity for fraud, which was Apple’s justification.

    But I haven’t heard of it happening with the wild-west Android NFC payments, much less widespread problems with the essentially unconstrained use of QR code payments on SE Asia (e.g. Alipay).

    So as an iPhone user I’m happy for Apple’s lockdown going away. I just hope it doesn’t mean that in future I’ll need to install a dozen payment apps and have to figure out which when I buy things.

    1. Danox · · focus · HN ↗
      What the banks want, and all the other financial institutions want is a free ride on someone else’s technology, without paying for it and it’s ironic because the Apple Pay system was only created by Apple because all of the other existing financial institutions believed at that time that the Apple ecosystems was too small to support, but once it became successful, all of a sudden they wanted in and cried foul to government to help them out.
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