Originally Posted by
EmptyKim
But you just stated it, retailers will have to replace their current PEDs (PIN entry device) with new PTS (PIN Transaction Security) devices as the mandate for EMV comes to realization. Many of these new devices come with NFC as an interface to accept payments.
I have a feeling that the merchants may not see the "fee" for Apple Pay. As this article states, the banks will be paying Apple a tiny fee.
http://www.electronista.com/articles...n.discussions/
Not sure if the ones I've seen have NFC capability, but I admit, I wasn't looking for it at the time. And would the handheld systems have it? I'd have to assume we'll start seeing those in restaurants somewhere along the line.
If the banks are going to be paying a fee, I guarantee that fee is going to be passed along to the merchants. The banks aren't going to be eating that out of the goodness of their hearts. Given what I've seen so far I don't see this as bypassing the usual visa/mc fees (since your'e still actually using your credit card), so I'd have to believe it'd be a higher fee.
It'll be interesting to see if it works out, but I'm still skeptical that it will. Even with Apple, I'm not sure it's enough of a market penetration that it's going to make much progress. Now, if apple started working on a way to go after the market of people that also have android phones that have NFC capability, that'd definitely increase their pool of people to try to convince retailers it's worth it.