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  • Apple Pay

    From JAB@21:1/5 to All on Tue May 7 11:55:45 2024
    Apple's Cut

    Apple collects a fee from banks each time consumers use the Apple Pay
    payment solution to make a purchase. According to rumors, Apple has
    struck individual deals with each bank it has partnered with,
    including Chase, Bank of America, Wells Fargo, and more.

    Apple's cut is reportedly at approximately 0.15 percent of each
    purchase, which equates to 15 cents out of each $100 purchase.

    https://www.macrumors.com/roundup/apple-pay/

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  • From D@21:1/5 to JAB on Tue May 7 21:07:28 2024
    On Tue, 7 May 2024, JAB wrote:

    Apple's Cut

    Apple collects a fee from banks each time consumers use the Apple Pay
    payment solution to make a purchase. According to rumors, Apple has
    struck individual deals with each bank it has partnered with,
    including Chase, Bank of America, Wells Fargo, and more.

    Apple's cut is reportedly at approximately 0.15 percent of each
    purchase, which equates to 15 cents out of each $100 purchase.

    https://www.macrumors.com/roundup/apple-pay/


    That's nothing. Look at Visa, mastercard and american express. They charge
    way more.

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  • From JAB@21:1/5 to [email protected] on Tue May 7 19:56:24 2024
    On Tue, 7 May 2024 16:23:39 -0400, Auric Hellman
    <[email protected]> wrote:

    Apple's cut is reportedly at approximately 0.15 percent of each
    purchase, which equates to 15 cents out of each $100 purchase.

    https://www.macrumors.com/roundup/apple-pay/


    Obviously they aren't expected to perform a service out of the goodness
    of their hearts, but that's a nice little profit considering software is >doing all the work.

    I assume it is 0.15 percent taken off of MC/VISA cut, which is quite
    a bit more. In other words, no added expense to the merchant, and no
    cost penalty to iPhone user, as I understand.

    Security wise, iPhone transactions are much safer than using a CC

    Credit cards can be stolen, and used, but if iPhone's security
    measures (face ID, passcode, etc) are used, this greatly reduces
    losses. In the news, I have heard of a person being killed, but I'm
    not aware of much more.

    Credit/Debit info inside iPhone can be removed with a click, so it's
    not locked in.

    I see this usage as a backup means of paying (where possible), or just
    plain conveyance.

    Not all merchants accept this method....Walmart/Sams has their own
    method, and does not accept Apple Pay.

    Locally, a person would know which merchants do, and those that don't
    accept. For travelers, a hit/miss proposition.

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  • From Theo@21:1/5 to JAB on Wed May 8 12:21:02 2024
    JAB <[email protected]d> wrote:
    On Tue, 7 May 2024 16:23:39 -0400, Auric Hellman
    <[email protected]> wrote:

    Apple's cut is reportedly at approximately 0.15 percent of each
    purchase, which equates to 15 cents out of each $100 purchase.

    https://www.macrumors.com/roundup/apple-pay/


    Obviously they aren't expected to perform a service out of the goodness
    of their hearts, but that's a nice little profit considering software is >doing all the work.

    I assume it is 0.15 percent taken off of MC/VISA cut, which is quite
    a bit more. In other words, no added expense to the merchant, and no
    cost penalty to iPhone user, as I understand.

    Security wise, iPhone transactions are much safer than using a CC

    This may be why. If fraud is let's say 1% and Apple cuts it in half, it's cheaper for the card company to pay them 0.15% and keep the remaining 0.35%
    for themselves, than lose the additional 0.5% in fraud losses.

    (no idea if that's realistic figures or not - banks don't like their fraud figures being publically known)

    Theo

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  • From JAB@21:1/5 to [email protected] on Wed May 8 20:10:28 2024
    On 08 May 2024 12:21:02 +0100 (BST), Theo
    <[email protected]> wrote:

    Security wise, iPhone transactions are much safer than using a CC

    This may be why.

    I attempted to find industry news related to a breakdown of fraudulent transactions, but no cigars.

    Needless to say, we can't fix stupid...who get to eat the charges.



    April 21, 2022 - Recently criminals have started using bots that
    automatically place phone calls to victims and trick people into
    handing over their multi-factor authentication codes. Now, various
    fraudsters selling access to these underground bots are highlighting a particular money making scheme: using the bots to link stolen credit
    cards to contactless payment systems like Apple, Samsung, and Google
    Pay and then buying items at the victim's expense.

    https://www.vice.com/en/article/n7ngxm/apple-pay-fraud-spending-sprees-2fa-bots

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  • From JAB@21:1/5 to All on Sun May 12 21:56:39 2024
    Unlike its competitors, PayPal, Venmo, and Cash App, Apple Pay doesn't
    charge any fees to merchants or individuals[2].

    https://privacy.com/blog/is-apple-pay-safe-for-debit-cards

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  • From Danart@21:1/5 to All on Thu May 16 22:51:20 2024
    JAB wrote:
    Apple's Cut

    Apple collects a fee from banks each time consumers use the Apple
    Pay
    payment solution to make a purchase. According to rumors, Apple has
    struck individual deals with each bank it has partnered with,
    including Chase, Bank of America, Wells Fargo, and more.

    Apple's cut is reportedly at approximately 0.15 percent of each
    purchase, which equates to 15 cents out of each $100 purchase.

    https://www.macrumors.com/roundup/apple-pay/

    Apple Pay
    requires an Apple ID. Which might require a phone call.

    ........................................

    Paypal is individual base.

    You get charged fees ( as a seller ) because essentially it is a
    money-order. Which is how I was making my payments to online sellers
    in the past. Put that in perspective.

    This means at some point Apple is losing money. If Apple is charging
    various banks fees, this means the fee they charge is the bare-minimum
    to make that exchange ( Akin to a Money Order or Debit/Credit card ).
    Meaning they ( like Amazon ) are trying to blow ebay out of the water
    ( in this case Paypal ). If Paypal and other bs like Zelles dies then
    Apple will surely raise it's fees.

    Paypal and Honeybee app are both owned by Ebay. Ebay was sold by it's
    creator but I am not sure who actually owns it now outside of stock
    value.

    .............................................


    Otherwise I do not really like associating with Apple Pay on that part


    This is a response to the post seen at: http://www.jlaforums.com/viewtopic.php?p=664940673#664940673

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  • From JAB@21:1/5 to Danart on Thu May 16 18:44:47 2024
    On Thu, 16 May 2024 22:51:20 +0000,
    [email protected]d (Danart) wrote:

    Apple will surely raise it's fees.

    I believe Apple's hands are tied...they have little leverage.

    --- SoupGate-Win32 v1.05
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  • From Danart@21:1/5 to All on Fri May 17 12:20:15 2024
    JAB wrote:

    I believe Apple's hands are tied...they have little leverage.


    The game is like with Nathan Hotdog stands v. ( whoever it was then ).
    Nathan and the other company kept lowering prices of the dogs until it
    hit ten cents. When the competition was wiped out they raised prices
    back up again. By this time Nathan was a family and brand name.


    This is a response to the post seen at: http://www.jlaforums.com/viewtopic.php?p=664940673#664940673

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  • From JAB@21:1/5 to Danart on Fri May 17 13:18:23 2024
    On Fri, 17 May 2024 12:20:15 +0000,
    [email protected]d (Danart) wrote:

    When the competition was wiped out they raised prices
    back up again.

    I suspect all M.B.A.'s are taught this in school. How to screw the
    consumers, and how to become a monopoly (or screw your competition).

    --- SoupGate-Win32 v1.05
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