Should Qpple start their own payment network
Ok so i was thinking if apple included NFC mobile payments into the next iphone i would hope they would atleast include 1 payment network such as Visa, Mastercard, American Express, Discover etc and a major bank plus do what google wallet has done any provide a debit card(maybe mastercard as well) to debit a itunes account.
But also seeing that NFC merchants are just staring to roll out in the US at around 15,000+ locations(or about 1.5%) i think it is the time to start there own payment network.
Now im not sure what the Merchants/Interchange fees are for the US are but Square is 2.75% for visa, MC & Amex and i guess the new starbucks deal they will pay less.
so if apple charged 1% maybe shops might sign up and lets say
30% of that or 03% would go to apple
40% of that or 03% would go to the bank provider holding the money/providing the credit card
30% of that or 03% would go into a fund which then when the shop provide a coupon or loyalty where they provide 50% off or half price which would also include Buy 1 coffee and get the next free(because you already brought 8 before on the coffee shops loyalty card) the money into the find would then be payed so really depending how much money thats in the fund the shops getting the money for the coffee.
and also because your using there card/payment network if someone goes wrong any you loose your money either apple or the bank provider would have to pay you back the money thats why there is a fee(like MC, visa, Amex) also apple may have to raise and take 2% instead.
also seeing that itunes takes 30% of app purchases maybe seeing most US cashback cards incude 1% everywhere they could do something like
1% of the transaction price would go into itunes credit so lets say you buy something for $1, the next time you buy something on itunes for 99c you would say 1%.
maybe they could up that to 5% seeing apple sells itunes gift cards at so they dont always take 30%.
they could also have bonus tunes 'cashback' when redeeming a coupon or loyalty cards.
Now like i said i think is important to atleast provide another payment network(like MC and citbank).