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Originally Posted by taustin
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.)
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I don't think the merchants are paying Apple anything for the use of Apple Pay at their stores. The merchants pay the banks and the the (card issuing) banks are the only ones who pay Apple anything. To the merchants, it's just another credit card with the same old processing fees they've always paid.
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All in all, it seems like a good deal for Apple. The company is not carrying a lot of sensitive information on its servers, and, at the same time, it reportedly receives a cut of the Interchange Fees that banks make on each purchase. Apple itself has promised not to charge customers or merchants for using or supporting Apple Pay, although it's still unclear whether costs might be passed down to users in another way. As MasterCard's Sherri Haymond described, "What Apple's role is here is they're the technology platform provider, they're interacting with the consumer, but they're not in the middle of the payment flow at all. All they're doing is facilitating their assets to be transferred."
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http://arstechnica.com/gadgets/2014/...s-really-work/