Quote:
Originally Posted by taustin
So the merchant is paying the "card not present" fee when the customer is standing in front of them (and they would, therefore, usually pay the "card present" fee, which is lower)?
Apple may not be charging the merchant, but the merchant service is, from the wounds of it. And if it's more expensive, it's more expensive, regardless of who gets it.
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Well, technically it is a card not present transaction because the card is not present, and the banks are giving Apple a cut because of the the security of the phone. But it's probably true that the card is in the user's wallet.
Quote:
Originally Posted by taustin
While I agree it will never go entirely away, there are places that are getting very close. Only 3% of transactions in Sweden are cash these days, and bank robberies have dropped by an order of magnitude since 2008 because most banks don't handle cash any more. Even churches take plastic.
Apparently, Somaliland is the leading user of mobile payment systems these days.
http://www.totalpayments.org/2013/07...ess-countries/ |
That's an odd article; Somaliland is an autonomous region of Somalia and not recognized as an independent country by any other countries.
Yes, Sweden is almost a cash free society, and there are stores there that don't take cash. Germany, on the other hand, is closer to a cash-only society than anywhere else I've been. It's a strange juxtaposition.
(When I studied in Germany, my monthly stipend was paid in cash - I went to a particular office, showed ID, signed a book,and was handed approximately $1200 in marks. Which I very nervously carried to the bank and deposited.)