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Retailers Don’t Like Paying the Fees for Apple Card

bloomberg.com

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Re: Retailers Don’t Like Paying the Fees for Apple Card

#71

Post by pwinnski »

moftz wrote: post #48
snypox wrote: post #17

Earlier quoted context omitted.

When I was in the US (Nevada and Cali) I was so surprised how many places don’t accept contactless payment. Here in Hungary, even the smallest convenience stores accept it.

I remember commercials like 15 years ago advertising the contactless cards but never have actually seen anyone use them in the US except for things like Apple/Android Pay. Lots of CC terminals have the symbol but it's never used. I remember a waiter in Europe trying to tap my card on the CC terminal multiple times before I mentioned that it's just a chip.

Two of my three cards can be used that way, but I use my watch/phone instead when I have a chance.

Re: Retailers Don’t Like Paying the Fees for Apple Card

#72

Post by pwinnski »

twobat wrote: post #59
xorcist wrote: post #42

Earlier quoted context omitted.

They do, in the sense that the consumer is charged the same price independently of which card they paid with.

If they really wanted they could ask what the payment method is and put the additional fees on the client's bill.

Doing so would violate their contract with the credit card companies. In some states, it might even violate the law.

Re: Retailers Don’t Like Paying the Fees for Apple Card

#73

Post by ceejayoz »

dwild wrote: post #69
slg wrote: post #12

Earlier quoted context omitted.

The article states that the fees are higher because it is designated an "elite" card. American Express cards also have a higher fee than the standard Visa or Mastercard and plenty of retailers complain about that or refuse to accept Amex.

> American Express cards also have a higher fee than the standard Visa or Mastercard and plenty of retailers complain about that or refuse to accept Amex. American Express isn't Visa or Mastercard, they are all on different payment network. I have no issue with them having different fees because they are different. The Apple Card is a Mastercard. Does Mastercard have different fees based on the type of card? I would…

> Does Mastercard have different fees based on the type of card?

Visa and Mastercard both do. "Premium" cards with more rewards have higher interchange rates.

Re: Retailers Don’t Like Paying the Fees for Apple Card

#74

Post by ryandrake »

twobat wrote: post #59
xorcist wrote: post #42

Earlier quoted context omitted.

They do, in the sense that the consumer is charged the same price independently of which card they paid with.

If they really wanted they could ask what the payment method is and put the additional fees on the client's bill.

I would immediately stop doing business with a retailer who dared to do this. What’s next? Charging a customer N% more because he drove to your store and parking spaces are expensive? At some point you need to accept certain costs of doing business and not always be looking to segment your customers to selectively pass expenses to them.

Re: Retailers Don’t Like Paying the Fees for Apple Card

#75

Post by gamblor956 »

pwinnski wrote: post #72
twobat wrote: post #59

Earlier quoted context omitted.

If they really wanted they could ask what the payment method is and put the additional fees on the client's bill.

Doing so would violate their contract with the credit card companies. In some states, it might even violate the law.

This is both true and false. In 2013, MC and Visa agreed in a settlement that they could not prohibit merchants from imposing a surcharge on credit card customers.

However, 10 states prohibit such surcharges, including CA, NY, FL, MA, and TX...i.e., the states with most CC transactions.

Re: Retailers Don’t Like Paying the Fees for Apple Card

#76

Post by [deleted] »

kstrauser wrote: post #15
crankylinuxuser wrote: post #3

Note that back in November, @DHH from Basecamp had strong words about the Apple Card with regards to sexism. I know there's active investigations going on with it, but I know of no results. Then again, it's just been 1 month, which is pretty much 'yesterday' in bank time. https://twitter.com/dhh/status/1192540900393705474

I have no opinions about DHH in general, but he's just wrong here. He tweets: > Hilarious how much mansplaining is flowing in this thread. Every single poster questioning my wife’s credit score, a man. Every single defense of Apple blaming GS, a man. Almost like men are over represented in the defense/justification of discrimination that doesn’t affect them? which immediately costs him all credibility in this specifi…

[deleted]

Re: Retailers Don’t Like Paying the Fees for Apple Card

#77

Post by twobat »

ryandrake wrote: post #74
twobat wrote: post #59

Earlier quoted context omitted.

If they really wanted they could ask what the payment method is and put the additional fees on the client's bill.

I would immediately stop doing business with a retailer who dared to do this. What’s next? Charging a customer N% more because he drove to your store and parking spaces are expensive? At some point you need to accept certain costs of doing business and not always be looking to segment your customers to selectively pass expenses to them.

What next? Tax more because your state is more expensive? These things are never simple to answer.

Re: Retailers Don’t Like Paying the Fees for Apple Card

#78

Post by benjohnson »

ceejayoz wrote: post #23
kstrauser wrote: post #15

Earlier quoted context omitted.

I have no opinions about DHH in general, but he's just wrong here. He tweets: > Hilarious how much mansplaining is flowing in this thread. Every single poster questioning my wife’s credit score, a man. Every single defense of Apple blaming GS, a man. Almost like men are over represented in the defense/justification of discrimination that doesn’t affect them? which immediately costs him all credibility in this specifi…

> He still doesn't mention their relative income. Because it doesn't matter. As of 2013, you enter combined household income on a credit application, and your income isn't part of your credit score either.

>>income isn't part of your credit score either

True.

However, income and current debt is used to in figuring out how much credit is extended.

Re: Retailers Don’t Like Paying the Fees for Apple Card

#79

Post by twobat »

gamblor956 wrote: post #75
pwinnski wrote: post #72

Earlier quoted context omitted.

Doing so would violate their contract with the credit card companies. In some states, it might even violate the law.

This is both true and false. In 2013, MC and Visa agreed in a settlement that they could not prohibit merchants from imposing a surcharge on credit card customers. However, 10 states prohibit such surcharges, including CA, NY, FL, MA, and TX...i.e., the states with most CC transactions.

This feels like 100% against the free market spirit.

Re: Retailers Don’t Like Paying the Fees for Apple Card

#80

Post by mrguyorama »

TylerE wrote: post #11
tinus_hn wrote: post #10

Earlier quoted context omitted.

Ultimately the problem is with the banks/issuers who refuse to support and require more secure solutions like chip cards, instead of clinging on to the hopelessly outdated standard of authenticating payments with knowledge of a number printed on a card.

Chip cards aren't without their problems, also. I've yet to have one last more than 9-10 months before the chip stops working reliably.

I have a TD bank card, which has both a stripe and chip. These cards are dirt cheap construction and material, and printed on demand by a similarly cheap machine. The stripe and chip contacts are visibly worn down and I've sat on this card quite literally 12 hours a day for 4 years. It still works nearly flawlessly. Something is very strange and broken about your card/wallet/habits I think
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