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Thread: Many Major Retail Companies Will Not Be Adopting to Apple Pay When Released

  1. #21
    iPhone? More like MyPhone rockyseay's Avatar
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    Default Many Major Retail Companies Will Not Be Adopting to Apple Pay When Released
    Quote Originally Posted by NSXrebel View Post
    Of $1 Billion in transactions, that comes out to $100k at 0.01%

    Hardly a staggering figure considering the transaction amount. I'll have to dig and search for the actual percentage, but it's really not that much.
    You know you wrote that completely wrong right. 0.01 is 1% which is far more than 100k. It's actually 10 million.

  2. #22
    Quote Originally Posted by rockyseay View Post
    You know you wrote that completely wrong right. 0.01 is 1% which is far more than 100k. It's actually 10 million.
    0.01 is 1%.

    0.01% is NOT 1%. It is 0.01%

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  4. #23
    My iPhone is a Part of Me politicalslug's Avatar
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    Actually Apple's cut is 0.15%. Out of a billion dollars that's $15 million. But we are talking about regular everyday credit card purchases, and people but a lot of stuff on credit. If Apple Pay really takes off you can expect that percentage to apply to hundreds of billions of dollars annually. Make no mistake, Apple will make billions off Apple Pay.
    They can have my jailbreak when they pry it from my cold dead fingers.

  5. #24
    Quote Originally Posted by Dranon View Post
    Yea I doubt THAT will happen very soon. The majority (99%) of people will NOT shed their cc for many months. Until they get used to/trust the system they will ALWAYS carry their card/s on them especially since not all retailers will accept it. After a year or so or more retailers that did not jump on will make their decision after they see how this new system affects their sales. It would be like someone NOT shopping somewhere because they did not take Amex but only Mastercard/Visa. I doubt that happens at all.:face-palm


    The watch still has an NFC chip in it The 5S does NOT.
    Actually , there are quite a few million people that do this all day long. If you don't accept AMEX. you don't want my business. Same will hold true for Apple Pay. In the UK, it will be huge. It will take a few years before it's as big in the US. The uk already has the infrastructure set up. It's only now being mandated here in the U.S.

  6. #25
    Quote Originally Posted by rockyseay View Post
    You know you wrote that completely wrong right. 0.01 is 1% which is far more than 100k. It's actually 10 million.
    0.01% does NOT equal 1%


    Quote Originally Posted by novadam View Post
    0.01 is 1%.

    0.01% is NOT 1%. It is 0.01%
    Thank you.



    Quote Originally Posted by politicalslug View Post
    Actually Apple's cut is 0.15%. Out of a billion dollars that's $15 million. But we are talking about regular everyday credit card purchases, and people but a lot of stuff on credit. If Apple Pay really takes off you can expect that percentage to apply to hundreds of billions of dollars annually. Make no mistake, Apple will make billions off Apple Pay.
    You are correct on the first part, Apple's cut is 0.15%.

    Apple Pay Details: Apple Gets 0.15% Cut of Purchases, Higher Rates for Bluetooth Payments - Mac Rumors


    BUT, out of a Billion dollars, that does NOT equal $15 Million, it equals to $1.5 Million.

    To put it in a better perspective, Apple is getting $0.15, yes 15 cents, for every $100 in transaction. That is chump change, especially when you consider that banks have a $3 surcharge when you use an ATM other than your bank's ATM's. Some point of sales even charge you up to a dollar for using a debit or credit card instead of using cash.

    https://www.google.com/search?client...C000+x+0.15%25








    Damn, some of you REALLY SUCK at math.
    Attached Thumbnails Attached Thumbnails -screen-shot-2014-10-13-3.58.11-am.png  

  7. #26
    Livin' the SPIDEY Life SpiderManAPV's Avatar
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    If I remember correctly, banks have also agreed to lower the charge per transaction on their end to keep it equivalent to a swipe.

    ......beware......
    Just your friendly neighborhood Spider-Man!

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    Livin the iPhone Life bigboyz's Avatar
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    Funny how nobody "trust" Apple pay but you trust Target, Home Depot and all of the other HUGE companies that have had their credit card servers and maybe more hacked in the last year or two? Apple has had one picture issue and there are all of these concerns? HAHA! Wish you people doubted your own government as much as you do Apple..maybe we would see some real change.

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  10. #28
    Quote Originally Posted by bigboyz View Post
    funny how nobody "trust" apple pay but you trust target, home depot and all of the other huge companies that have had their credit card servers and maybe more hacked in the last year or two? Apple has had one picture issue and there are all of these concerns? Haha! Wish you people doubted your own government as much as you do apple..maybe we would see some real change.
    right??!

  11. #29
    My iPhone is a Part of Me buggsy2's Avatar
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    I doubt Sears shoppers know what an iPhone is.

  12. #30
    Quote Originally Posted by se23 View Post
    It may well be joke but only small transactions 20 can be made. With my details in the cloud wouldn't make me feel safe. As I said it could be Apple or the man down the road who says it's safe but I'll never use it! That's just my PoV and I'm sure many will use it but not me. I won't even use online banking app on my Samsung tab lol
    never is a long time, for all you know it may become the standad in payments then what would you do?

    compare it to the people who still only deal in cash and checks because the are too afaid of technology - thats what you sounds like.

    Also, if you were really that paranoid - why are you on the interwebs at all, and own a cell phone?

  13. #31
    iPhone? More like MyPhone SirZyrion's Avatar
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    One of the new changes that might prompt more stores to use Apple Pay is supposed to be the new US laws that put the burden of fraud and credit card theft on retailers. With Apple Pay being a more secure transaction method, it may drive retailers toward the system.

    Anybody else notice how irrelevant some of the holdouts seem?

    "Best Buy, H&M, Coach, Bed Bath & Beyond, Sears, Kmart, BP, Publix, Pizza Hut, Chipotle and last but not least Starbucks."

    Taking out Publix and PB because they aren't in Arizona where I live, 4 out of the remaining 9 companies are in danger of shutting down retail locations because of online business. They're almost irrelevant at this point. Take out Coach, which is a high end, niche retailer that the average American doesn't really use, and we're at 50%. Starbucks wasn't really surprising because their app already pioneers similar technology, and they're integrating Apple Pay there to work with their points and other features. They'll most likely use Apple Pay as a method to reload Starbucks cards rather than direct purchases.

    Quote Originally Posted by holyshnikes View Post
    I wasn't saying that the iPhone 5S had NFC in it. What I was suggesting was that the Apple Watch would scan, but get its verification, (instead of pin number) from the 5S's TouchID.
    They're not going to have 2 different prices for items. There won't be a regular price and an Apple Pay price for items. If retailers are going to raise prices because of Apple Pay fees added to credit card fees, you're going to end up paying higher prices whether or not you're using Apple Pay.

  14. #32
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    Apple Pay won't materially affect retail prices. The 0.15% isn't coming from the retailer - it's coming from the bank processors that are supporting the cards. The bank processors are hoping the convenience of Apple Pay will encourage more use of their cards and that they'll make more money off of the resulting fees and interest charges from consumers that result. The fact is, the major processing companies already earn anywhere from 0.5%-7% of a card transaction from retailers (depending on type of card, volume of the retailer, etc). They don't need to raise fees to the retailers to cover the 0.15%, especially if the transaction volume increases as a result of convenience for Apple Pay.

    Banks are seeing this as a golden opportunity to further the "cashless economy" - when you had to go to your wallet to dig out a card, it was just as convenient to dig out cash from the same. Your cell phone is much more readily accessible than a card or cash in your wallet, so Apple Pay makes you even more likely to use their networks instead of cash.

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    My iPhone is a Part of Me se23's Avatar
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    Quote Originally Posted by drigo1178 View Post
    never is a long time, for all you know it may become the standad in payments then what would you do?

    compare it to the people who still only deal in cash and checks because the are too afaid of technology - thats what you sounds like.

    Also, if you were really that paranoid - why are you on the interwebs at all, and own a cell phone?
    I'm not going to live forever.

    Cashless will most certainly be the only way to pay in the future. I'll cross that bridge when it comes.

    I AM one of those people who are afraid of technology that's why I don't have any real info on the net. There's nothing real personal about me on the web and that's the way it's staying!

  16. #34
    Livin' the SPIDEY Life SpiderManAPV's Avatar
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    I put plenty out there about myself... It's just falsified and/or encrypted.

    ......beware......
    Just your friendly neighborhood Spider-Man!

  17. #35
    Quote Originally Posted by buggsy2 View Post
    I doubt Sears shoppers know what an iPhone is.
    Post of the thread! LOL

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