Retailers are paying a premium for you to use your Apple Card

[iMore.com]

Bloomberg has published a new report that details how merchants are starting to push back against high-fee cards like Apple Card.

Full story from the iMore Blog...

 

[Lee_Bo]

Kinda makes me feel bad when I use my Apple Card to pay for my $1.75 coffee at QT.

Well, not really.

 

[Rob Phillips]

Kinda makes me feel bad when I use my Apple Card to pay for my $1.75 coffee at QT.

Well, not really.

Good news is interchange fees are a percentage of the purchase, not a fixed amount, and Visa’s fees are almost always lower than any Amex card on the market. I still don’t feel bad for using my Amex or my Amazon Prime Visa (which, by the way, is way the heck better of a card than Apple Card, IMO). It’s the cost of doing business. Let’s not forget interchange fees are MUCH lower than they used to be prior to 2011 legislation that cut them down to hardly anything.

 

[anon(50597)]

Kinda makes me feel bad when I use my Apple Card to pay for my $1.75 coffee at QT.

Well, not really.

It’s going to hurt small businesses the most. I wonder if we’ll see a minimum purchase needed in order to use Apple Pay at some locations.

 

[Lee_Bo]

It’s going to hurt small businesses the most. I wonder if we’ll see a minimum purchase needed in order to use Apple Pay at some locations.

Or we’ll start seeing situations were an item may be $1.25 cash or $1.35 card.

 

[anon(50597)]

Or we’ll start seeing situations were an item may be $1.25 cash or $1.35 card.

Perhaps. Still new territory in the U. S. paying with phones.

 

[Rob Phillips]

Or we’ll start seeing situations were an item may be $1.25 cash or $1.35 card.

I’ve already seen it with some small businesses. Gas stations have been doing it for years for a profit, I presume. No way are they being charged 10 cents extra per gallon of gas simply because I’m paying by credit card!

 

[anon(50597)]

I’ve already seen it with some small businesses. Gas stations have been doing it for years for a profit, I presume. No way are they being charged 10 cents extra per gallon of gas simply because I’m paying by credit card!

I was going to mention gas stations also. You have to survive and when profit margins are so low this kind of thing can kill you.

 

[Ledsteplin]

It’s going to hurt small businesses the most. I wonder if we’ll see a minimum purchase needed in order to use Apple Pay at some locations.

Apple Pay, or Apple Card?

 

[anon(50597)]

Apple Pay, or Apple Card?

I think it would be either, correct?

 

[Ledsteplin]

I think it would be either, correct?

No clue. I don't have an Apple Card. I do use Pay some, but haven't seen any charges added by the businesses. As far as I know, these charges are for cards only. But I may be wrong.

 

[kataran]

Or we’ll start seeing situations were an item may be $1.25 cash or $1.35 card.

Some gas stations charge more a gallon when you use a credit card