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).

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syvolt 2 hours ago | parent | next [-]

Or Apple Pay can just be like Google Wallet is on Android? The alternative is not multiple apps.

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shreddit an hour ago | parent | next [-]

There is already apple wallet where i can put any of my banking cards…

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kelvinjps10 an hour ago | parent | prev | next [-]

I have used both but I dont know the difference

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juiceland an hour ago | parent | prev | next [-]

How does it work on Google Wallet?

	▲	sgerenser 39 minutes ago \| parent [-]
		Article says Google wallet works just like Apple Pay, except they don’t charge a 0.15% fee.

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add-sub-mul-div an hour ago | parent | prev [-]

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.

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jasode 9 minutes ago | parent | next [-]

> is tapping a piece of plastic instead of your phone and not inviting any of the tech giants into your transactions at all.

Apple doesn't see individual transactions when Apple Pay is used at retail stores' tap-to-pay terminals. The secret card payment token is sent from the phone to the credit-card's issuing bank and bypasses Apple servers. In this way, using Apple Pay is more secure and private than plastic cards because the real card number details remains hidden from the merchant.

The iPhone does contact Apple servers to add a new card to the digital wallet. Apple servers then contacts the issuing bank to get the secret token the bank generates and then puts it in the digital wallet. Conceivably, the "add a new card to digital wallet" could also have been done without Apple in the middle but it would require a much more convoluted, less secure, and more user-hostile workflow to do it. (e.g. the end user would have to know what bank endpoint to contact, manually enter the long and cryptic digits of the secret token, or maybe scan a QR code on a computer screen that's vulnerable to interception and phishing.)

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bdangubic 7 minutes ago | parent [-]

don’t be silly, apple displays me exact amount on the screen, in plain fucking text, after each transaction - that’s crazy you wrote this

	▲	tekla a minute ago \| parent [-]
		Man, its amazing how confident you are about this, considering I know individual people who independently work at Visa, Mastercard, AND Apple, who have worked on mobile payments who independently confirm that none of them know any personal info and that its all pass-through. So, are you sure you know what you are talking about?

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Elfener 41 minutes ago | parent | prev | next [-]

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.

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bdangubic 8 minutes ago | parent | prev [-]

yea, feels like tech giants do not have access to this already? they know where you are and what you do every second of every day, keeping away from ( while they know I was a target ) what was the amount on my receipt is really giving it to them :)

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wmf 2 hours ago | parent | prev | next [-]

A possible compromise is to allow Apple Pay to be a monopoly as long as it doesn't charge any fees.

	▲	braiamp an hour ago \| parent [-]
		How about I do you one better compromise: create a payment network that don't rely on private institutions rent seeking behavior, like Pix in Brazil.

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Despegar an hour ago | parent | prev | next [-]

Now do developers.

I don't really care about any of Apple's business partners being upset about their business terms with Apple. Developers want a bigger cut, banks want a bigger cut, Foxconn wants a bigger cut.

My interests as an Apple user are aligned with Apple. But even if I wasn't an Apple user, market forces determine what the "fair" cut is for everyone.

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radialstub an hour ago | parent | prev | next [-]

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.

	▲	guywithahat 36 minutes ago \| parent [-]
		It's not a government problem, it's a competition problem. Fundamentally 1-3% is actually a very competitive rate for organizing the easy transfer of money and handling fraud. Merchants would rather the cost be free, and banks may want a larger slice of the pie, but until someone comes up with a better way of paying money for both sides this is the best we have. If government got involved all that could happen is fees would increase and then we'd miss out on future efficiency improvements and savings.

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caycep 2 hours ago | parent | prev | next [-]

granted i am a bit of schadenfreude at the thought of poor poor megabanks having to pay....fees...

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otterley 2 hours ago | parent [-]

Ultimately it comes out of their customers’ wallets.

	▲	wasm777 2 hours ago \| parent [-]
		n

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HotGarbage 2 hours ago | parent | prev | next [-]

I would use my non-profit credit union Wallet if it meant less fees on their end.

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kotaKat 2 hours ago | parent | prev [-]

Walmart only relented because they finally broke through the final missing link of the contactless issue. They got customers conned into giving their phone numbers at checkout, just like it's the grocery store.

Cards get linked to accounts automatically behind the scenes based on first6/last4 card number tracking, then everyone else self-selects to punch their phone number on the screen.

Same reason Walmart Radio is such gruesome auditory cancer, it's part of the data collection and advertising vehicle.

	▲	havaloc 2 hours ago \| parent [-]
		That could be part of the reason, but also I think insisting on chip all this time just really slows down a store that doesn't really spend on cashiering all that much. Tap to pay can shave off a few seconds on every transaction (ever been behind someone in the store who finally pulls out their wallet, finds the business end of their card, inserts it, waits 20 seconds...). Millions of transactions a day, over thousands of stores, it can make a huge difference in time saved.