Subj : NFC - google pay & apple pay
To   : Jay Harris
From : August Abolins
Date : Fri Apr 26 2024 22:11:00

Hello Jay Harris!

 JH> I'd be interested to know if there's any extra cost to the
 JH> retailer as well.

 JH> The amount that Google or Apple receives is paid out of
 JH> the bank's portion of the interchange fee, at least from
 JH> the articles I've read. Whether the banks pass this fee on
 JH> would be interesting to know.

My POS statement describes a plethora of different types of  
credit and debit cards within Visa and Mastercard.  Each type  
has its own %-age fee for use.  And, there are additional  
charges depending on whether someone dips, swipes, or taps with  
a card, and recenty whether someone uses non-card device like a  
smartphone or watch.

So.. I guess the latter answers your question.  The retailer  
ends up paying for everything.

-- 
  ../|ug

--- OpenXP 5.0.58
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