That could be part of the reason, but also I think insisting on chip all this time just really slows down a store that doesn't really spend on cashiering all that much. Tap to pay can shave off a few seconds on every transaction (ever been behind someone in the store who finally pulls out their wallet, finds the business end of their card, inserts it, waits 20 seconds...).

Millions of transactions a day, over thousands of stores, it can make a huge difference in time saved.

How about I do you one better compromise: create a payment network that don't rely on private institutions rent seeking behavior, like Pix in Brazil.

n

I would use my non-profit credit union Wallet if it meant less fees on their end.

Article says Google wallet works just like Apple Pay, except they don’t charge a 0.15% fee.

There is already apple wallet where i can put any of my banking cards…

I have used both but I dont know the difference

That is much better, but you're still paying visa/mastercard some percentage fee for a service which should be provided by e.g. the central bank.

Now do developers.

I don't really care about any of Apple's business partners being upset about their business terms with Apple. Developers want a bigger cut, banks want a bigger cut, Foxconn wants a bigger cut.

My interests as an Apple user are aligned with Apple. But even if I wasn't an Apple user, market forces determine what the "fair" cut is for everyone.

This is the government's problem. I tend to be on the side of less government, but it is so obvious that payment facilitation should be a service provided by the government. The government is just allowing corporations to collect rents, because they are lazy and incompetent.

[delayed]

Initially I was casually (didn’t dig into the issue) fine with Apple allowing only a single access to payment via NFC due to the opportunity for fraud, which was Apple’s justification.

But I haven’t heard of it happening with the wild-west Android NFC payments, much less widespread problems with the essentially unconstrained use of QR code payments on SE Asia (e.g. Alipay).

So as an iPhone user I’m happy for Apple’s lockdown going away. I just hope it doesn’t mean that in future I’ll need to install a dozen payment apps and have to figure out which when I buy things.

The only time the People have anything in our sick phony republic protected is when their interests happen to coincidentally align with those of an adversarial oligarch. Not interested in digging through the 15 layers of competing interests, corporate spin, lies, and economics to determine if that’s the case here but it’s sad in any case that stories like this are the only hope we the People have of getting any crumbs out of this system.

https://whatispix.com/

I hope we get tap to pay on GrapheneOS in the US soon. You can already use it in the EU with Curve and PayPal. It's a blocker for a lot of people.

Hacker News seems generally not interested in private payments or how terrible the banking system is, which is disappointing.

https://eylenburg.github.io/payments.htm

It is estimated Apple Pay does anywhere between $5T to $10T transaction per year. That is everything from Credit Card to Debit Card. If we average out at 0.1% per transaction over $5T, that is $5B per year.

The transaction itself doesn't touch any Apple severs. In case anyone is wondering if there is an operational cost. There is a set up cost though with the initial verification and sometimes Apple do charge a one time fee per card set up.

There is a privacy angle with using Apple Pay. But I am unsure how much info banks and network is not getting because of it.