Quote:
Originally Posted by Andrew H.
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.
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And the bottom line is, well, the bottom line. If it gets run as card not present, it costs more. Not much more, mind you, but even a fraction of a percent times a hundred million transactions adds up. It's not hard to understand why really big merchants don't want to deal with that.
(Which isn't why they're pushing CurrentC so much, of course. But it's
a reason, and one the public can easily understand without getting pissed off about it.)