351–360 of 778 posts
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Yes. This is roughly half of the transaction fee. The other half is to self-fund the rewards illusion that gets customers to use the card.
> rewards illusion Maybe if you don't pay your balance every month, but the rewards are very real for me.
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the difference is that there re dozens of CC companies which do not share information. Apple already has a lot more info on users then CCs do. edit Apple knows a lot about you IF you use apple products. Didn't think this would be a controversial point :)
how is this remotely true? Apple has nearly nothing on you. Amex knows what I buy, when, and where.
I love the app used to manage spending and paying your bill. It'll definitely be super easy to stay on budget given the fact that you'll have immediate access to up-to-date spending and trends, whereas if I want to do that with my Chase account, I need to login, run numbers, etc. There seems to be a subfocus here about helping you manage your spending, which I can appreciate. The problem with ease of spending money i…
But you should be able to use this almost anywhere, it doesn’t depend on contactless ApplePay.
2% if you use Apple Pay, and 1% if you use the physical card. That's not a very competitive offering.
I think the whole idea of "Cash back" is insane. Someone , i.e. the consumer, is ultimately paying for these rewards, whether it is airline miles or cashback % or whatever. It is a self-propelling idea that would be almost impossible to kill because doing so would make your credit card offering less competitive. It is also self-propelling from the consumer end. If you don't take advantage of these rewards, you're pay…
I see no advantages over the sapphire reserve.
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So I live 1.75 hours from a major city, not in a tech hub of any sorts, pretty typical sleepy Northeast town and use my Apple pay at the local Cumberland Farms, Stop & Shop and about a half dozen less regular shops. Once you start looking for it, you'd be surprised at how many places offer. I've never "seen" anyone else using it, but I'm in the position to "see" only a few minutes each week as I'm waiting in line.
> Once you start looking for it, you'd be surprised at how many places offer. I've never "seen" anyone else using it, but I'm in the position to "see" only a few minutes each week as I'm waiting in line. Isn't this because Apple Pay is essentially built on top of the Visa/Mastercard/Amex contactless solutions?
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Banks are also much more heavily regulated than tech companies. Yes, they've mostly captured all the regulators at this point so it's like the foxes running the henhouse, but at least in theory that's how it's supposed to work. . .
Yes, and ultimately Goldman Sachs is a bank and will be held accountable for anything that happens. This is a GS product that Apple gets a significant cut of.
The jokes almost write themselves. . .
As a non US person. Can someone explain the innovation of this? What should be better here? Is there anything I have missed? As I understand from the Wikileaks cables, the American government prevented Russia to establish their own credit card system. So they can better spy on the people as they have full access to MasterCard and visacards transactions. So how can this be about privacy?
Hi, do you mind linking me to some sources to this claim?
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Look no further than the recent issue where Patreon competitor Subscribestar had payment processors Stripe and PayPal stop processing their payments for _political_ disagreements with the purported beneficiaries of the donations through the platform. PayPal said that it was actually one of the underlying payment processors, and it was suspected to be MasterCard. That incident was the first time I've ever taken the ne…
And people still wonder what problem cryptocurrencies tries to solve.