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MileHighKiwi
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  #2044238 26-Jun-2018 18:39
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The other advantage of Apple Pay is that when you authenticate with your fingerprint (Consumer Device Cardholder Verification Method (CDCVM), there is no contactless PIN requirement/limit. Standard contactless transactions using a card require PIN for $80+.

In regard to fees, standard Eftpos cards, I.e with a mag stripe only, dont cost merchants anything to accept.

Most banks predominately issue 'scheme debit' cards now, i.e. with a Visa/Mastercard logo, and these cost nothing to accept if the cardholder uses the chip or mag stripe in store and selects cheque or savings. If the card is used for a contactless transaction, or credit, it incurs a fee. Fees are also incurred by merchants when these cards are used for e-commerce.

Mastercard has had a contactless interchange fee for ages, Visa recently introduced contactless rates, previously the fee depended on the type of card used, e.g. platinum/classic.

No doubt a backward step by BK and their customers will probably vote with their feet. There are numerous studies showing the benefit of contactless. In a bar recently it took 30 seconds to process chip transactions. I counted. Big queue for drinks. I said to the barman they need contactless, he said he gets told that dozens of times a day. It's a no brainer in quick service environments, but I understand why Mitre 10 dont offer it.

quickymart
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  #2044245 26-Jun-2018 18:52
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A little off-topic but BK is actually really, really unhealthy. I haven't eaten it since 2003.


 
 
 
 


rugrat
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  #2044248 26-Jun-2018 19:01
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I did Apple Pay for an item well over $80 at jb hi fi, no pin required.

Also could use my watch which meant I didn’t have to get anything out of pocket.

I have disabled payWave on my credit card but Apple Pay still works, if someone tries to use payWave on my CC I get an instant email, which will alert me immediately that someone’s got my card.

If I lose my watch, it locks as soon as left my wrist, so no good to anyone.

sbiddle
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  #2044255 26-Jun-2018 19:07
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AidanS:

 

wellygary:

 

AidanS:

 

sbiddle:

 

Paywave transactions costs no more than regular chip transaction.

 

 

If a New Zealand issued EFTPOS/DEBIT card is chipped doesn't it run through the EFTPOS network which has lower/free fees, but if an EFTPOS/DEBIT card is tapped then it incurs the Visa/MC fee as it's now used a different network?

 

 

CC transactions either Wave or insert incur Visa/MC fees

 

The only way to make an EFTPOS transaction is swipe and pin...

 

 

Yes for credit cards because they don't use the local EFTPOS network at all.

 

However you can make an EFTPOS transaction by chip-inserting a NZ EFTPOS enabled DEBIT card.

 

 

You don't need a debit card for EFTPOS payments using chip. My Visa has my cheque + savings accounts which I can select for a chip + Pin transaction.

 

 


sbiddle
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  #2044256 26-Jun-2018 19:09
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Rikkitic:

 

I sniff at pay-wave. It is completely unnecessary, gimmicky and pointless, the ultimate answer to a non-existent problem.  

 

 

You do of course realise that in the US that you never signed for low value transactions anyway? Contactless is just an extension of that offering better security than a mag stripe.

 

So you aren't really correct when you say it's not solving a problem - it's solving the problem of insecurity of mag stripe cards.

 

 


sbiddle
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  #2044257 26-Jun-2018 19:11
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I guess Burger King will simply be off the list of places I could never go to for lunch since most of the time I never take my wallet with me. 

 

I wonder when they'll start imposing charges for people paying with cash since they have to count it?

 

 


sbiddle
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  #2044258 26-Jun-2018 19:17
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It's interesting to go back to 2011 when contactless first launched in NZ. ANZ pioneered Paypass with Mastercard for the RWC and had an exclusive on the technology preventing any other banks launching it.

 

Globally McDonalds has always been a launch space for contactless because it's such a popular place, but after being part of the ANZ trial McDonalds in NZ McDonalds disabled contactless on their Ingenico terminals because some franchisees complained about the increasing use of credit cards vs EFTPOS.

 

At the end of the day these issues all stem back to our interchange rates in NZ. The inquiry into this which is expected to slash rates to similar levels as Australia was due in the middle of last year, and was then due in April. Somebody should ask Kris Faafoi where it is!

 

 


 
 
 
 


freitasm
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  #2044265 26-Jun-2018 19:35
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Hashtagtruth:

 

I find Apple Pay a lot easier as I don't have to reach for my wallet or if I don't have my Wallet on me.  

 

 

You don't have to reach for the wallet but probably most of the times have to ask "Do you have paywave?" when going to a new place, right (except for those places with a paper strip glued on top of the terminal with a "NO PAYWAVE" handwritten sign...





 

 

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alasta
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  #2044330 26-Jun-2018 20:19
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freitasm:

Hashtagtruth:


I find Apple Pay a lot easier as I don't have to reach for my wallet or if I don't have my Wallet on me.  



You don't have to reach for the wallet but probably most of the times have to ask "Do you have paywave?" when going to a new place, right (except for those places with a paper strip glued on top of the terminal with a "NO PAYWAVE" handwritten sign...



Usually a symbol appears on the screen of the terminal to indicate that contactless payments are supported. I usually only reach for my wallet if I can’t see that symbol.

Pumpedd
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  #2044344 26-Jun-2018 20:43
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NZ Banks do need a shakeup. Their transaction fees are a monstrous debt on retail. It seems crazy to charge extra for paywave when it is the retailer that purchases the terminal. 


freitasm
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  #2044347 26-Jun-2018 20:45
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alasta:
freitasm:

 

Hashtagtruth:

 

I find Apple Pay a lot easier as I don't have to reach for my wallet or if I don't have my Wallet on me.  

 

 

You don't have to reach for the wallet but probably most of the times have to ask "Do you have paywave?" when going to a new place, right (except for those places with a paper strip glued on top of the terminal with a "NO PAYWAVE" handwritten sign...

 



Usually a symbol appears on the screen of the terminal to indicate that contactless payments are supported. I usually only reach for my wallet if I can’t see that symbol.

 

Causing an unnecessary delay, the person behind the cashier thinking "Why didn't this doofus had the card at ready?"





 

 

These links are referral codes

 

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hio77
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  #2044360 26-Jun-2018 20:49
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freitasm:

 

Causing an unnecessary delay, the person behind the cashier thinking "Why didn't this doofus had the card at ready?"

 

 

i'd twist it the other way, why doesn't this store not have adopted a method to make it easier for me to spend money...





#include <std_disclaimer>

 

Any comments made are personal opinion and do not reflect directly on the position my current or past employers may have.

 


dejadeadnz
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  #2044371 26-Jun-2018 21:12
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Rikkitic:

 

I am proudly old-fashioned. Also old. And I haven't caught anything from money yet. 

 

 

Anyone who can exercise a bit of objectivity and has done a bit of shopping recently can see how during busy times like lunchtimes, paywave is simply a massive timesaver for people who are pushed for time. Just look at how long some people take just to key in their pins or how often idiots forget their own pin number. And that doesn't even account for the odd person who pays by cash and how most teenaged cashiers can barely give a bit of change without taking an age after fumbling around.

 

 

 

 

 

 

 

 


sbiddle
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  #2044373 26-Jun-2018 21:15
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Pumpedd:

 

NZ Banks do need a shakeup. Their transaction fees are a monstrous debt on retail. It seems crazy to charge extra for paywave when it is the retailer that purchases the terminal. 

 

 

What does credit card interchange rates have to do with banks?

 

These are rates set by Visa and Mastercard.

 

It's perfectly logical to charge extra for Paywave and credit card transactions when these charges are costing plenty of businesses at least upwards of 3% on their bottom line just to accept them. If you have issues with this charging you should betaking it up with the Commerce Commission, because it was their legal action against the credit companies that allowed credit card surcharges, and then backfired when Visa and Mastercard both introduced new premium tier cards.

 

EFTPOS costs a retailer nothing in transaction costs except a base monthly fee which can be as little as around $10 per terminal.

 

 

 

 


Rikkitic
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  #2044378 26-Jun-2018 21:28
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dejadeadnz:

 

Rikkitic:

 

I am proudly old-fashioned. Also old. And I haven't caught anything from money yet. 

 

 

Anyone who can exercise a bit of objectivity and has done a bit of shopping recently can see how during busy times like lunchtimes, paywave is simply a massive timesaver for people who are pushed for time. Just look at how long some people take just to key in their pins or how often idiots forget their own pin number. And that doesn't even account for the odd person who pays by cash and how most teenaged cashiers can barely give a bit of change without taking an age after fumbling around.

 

 

This just makes me want to take even longer counting out my cash. If your time management is so poor you can't muster a little patience for an elderly person ahead of you to make a transaction, maybe you should just bring a bag lunch with you. Then you don't have to spend any time waiting at all. You can even eat on the run. Win win. I don't bother you and you don't bother me.

 

 





I don't think there is ever a bad time to talk about how absurd war is, how old men make decisions and young people die. - George Clooney
 


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