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davidham | 1 year ago

Regarding the Apple Wallet: what about it is uncompetitive? I can add credit cards from many providers to it, and as far as I can tell Apple doesn't get anything if I add my Chase card and use it with Apple Pay. I don't think banks have to pay Apple anything for their cards to be used in the Apple wallet. Nor do non-financial cards like memberships.

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padthai|1 year ago

They get 0.15% of the transaction from the card issuer. And they do not allow card issuers to use the hardware on their own.

davidham|1 year ago

That seems...fair to me? Apple makes a phone a lot of people want to buy, and adds NFC to it to enable mobile payment, and they provide security guarantees for the end user and the card issuer alike. I don't know why they should be obligated to provide this functionality to the card issuers for free.

davidham|1 year ago

(Thank you for the reply by the way, I didn't know that about the 0.15%!)

samatman|1 year ago

Visa and Mastercard both charge a fee for operating a payment network. Apple does as well.

sf_rob|1 year ago

I find it somewhat entertaining that the press conference, and to a lesser extent the brief, argues that giving 3rd party dev access to Wallet functionality would result in a more security for the user. I don't always trust monoliths (might be the wrong word?) but I trust Apple Wallet integrations more than anything my bank would try to roll out.

I'm fine with the claim of more competition and more privacy (although I'm not particularly worried about Apple here).

mcfedr|1 year ago

You try and make an app that competes with Apple wallet.

You will very quickly find you can never have access to the NFC hardware. And you could not trigger your app when required.

alex_suzuki|1 year ago

I worked as a contractor for a company offering a mobile payment solution in central europe. They were able to negotiate, with some weighty backing, an app entitlement that prevents Apple Pay from popping up when the phone is held close to an NFC-enabled payment terminal while the app is open. Just saying that there are ways, but they‘re not open to everyone.