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

Lee_Bo

Well-known member
Apr 6, 2016
6,114
325
68
Visit site
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

iPhone X & Apple TV Champion, Moderator
Champion
May 1, 2012
13,759
0
0
Visit site
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.
 

Lee_Bo

Well-known member
Apr 6, 2016
6,114
325
68
Visit site
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.
 

Rob Phillips

iPhone X & Apple TV Champion, Moderator
Champion
May 1, 2012
13,759
0
0
Visit site
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)

Trusted Member
Dec 2, 2008
2,073
0
0
Visit site
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.
 

Trending Posts

Members online

Forum statistics

Threads
261,143
Messages
1,769,828
Members
441,294
Latest member
brunnic