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# 248437 26-Mar-2019 15:31
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The Apple TV+ thread has been discussing low Paywave uptake and how it effects offering such as Apple Card+ in New Zealand. 

 

Thought it was best discussed here...





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  # 2205146 26-Mar-2019 15:41
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Too expensive.

 

I understand that NZ already has much more expensive merchant fees (paid by the retailer to the credit card company) than comparable countries including Australia. When you pile on top of that the extra fees for Paywave, many retailers, particularly small ones, say it's just too much of their margin going to the credit card companies.

 

See https://www.tvnz.co.nz/one-news/new-zealand/high-paywave-fees-banks-making-goods-and-services-more-expensive-everyone-retail-nz-says?variant=tb_v_1
"Retail New Zealand says banks and credit card companies are charging Kiwi retailers much more for contactless and 'Paywave' transactions than other countries - and it is pushing up the price of goods for everyone.
The organisation says it has heard of retailers in New Zealand being charged up to 3.5 per cent transaction fees, with an average of 1.6 per cent - the average in the UK is 0.2 per cent."

 

In most settings, Paywave is faster and more reliable than swipe or card-insert, but it seems not enough so to be worth the money to the retailer.

 

 

 

Easily fixed 😂

 

 

 

 

 

 

 

 

 

Edit: add URL & quote


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  # 2205148 26-Mar-2019 15:43
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Don't think it's a low update. Many retailers and small businesses have been bitten with profit squeeze once the merchant fees come in so are going backwards and dropping it (KFC and BK - Drivetrhough may still have it for speed, but counters removed)

 

Although a branch near me has re-instated it counterside again

 

I won't be surprised if we only see big turnover (Warehouse, Supermarkets, Servo) being some of the only to take it

 

https://www.tvnz.co.nz/one-news/new-zealand/high-paywave-fees-banks-making-goods-and-services-more-expensive-everyone-retail-nz-says 

 

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12210463 

 

20K of fees in a 15 month period is scoff level.

 

 

 

/edit and SNAP!. I type to slow


 
 
 
 


gzt

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  # 2205154 26-Mar-2019 15:45
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If there were any competition it would be a tech replacement upgrade to an existing service. Eftpos was a leap ahead for retailers. Paywave is just a tech upgrade.

Edit: Maybe the model is wrong and should be charging users an extra 10c instead. Pay 10c to avoid stuffing around. Sounds good to me.

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  # 2205155 26-Mar-2019 15:48
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It's those merchant account fees. Not just an issue for Paywave, but for credit cards in general. You have to be a big player to be able to deal with those fees without increasing prices for customers.


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  # 2205156 26-Mar-2019 15:51
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I've spoken with many retailers who get annoyed at the ridiculous cut demanded for the 'privilege' of having a pay-wave machine.

 

It is quite frankly appallingly greedy to demand an (additional) 2% cut (?) when there's no additional benefit to the retailer, you're sure as hell not going cause them to get an extra 2% in sales so it's not justified purely from a monetary point of view.

 

 


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  # 2205165 26-Mar-2019 16:00
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Correct me if I'm wrong but don't all current bank provided contactless payment cards go through the Credit/Debit Card networks rather than EFTPOS? NZ Retailers already have a heavy bias against these networks due to much higher fees in the first place. Just look how many retailers reject American Express cards already.

 

Wonder if there is a contactless EFTPOS variant planned?


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  # 2205174 26-Mar-2019 16:29
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I never go with Paywave as a payment option when I'm at my local. I know and have heard stories of the merchant and processing fees and honestly I'll just use the chip instead.

 

 

 

Completely understand why some retailers don't use paywave and I don't blame em. 


 
 
 
 


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  # 2205175 26-Mar-2019 16:30
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The local shop up the road use to have paywave but got it removed as they were getting hit with 200 - 500 a month in fees just for that alone (so they told me when i asked about it).  They would rather wait the extra 10 seconds for a customer to put in their card and pin.  I think more retailers would have it if it was a flat fee each month or per transaction (i.e. 5 cents a transaction).

 

I love pay wave but I totally understand why shops don't have it with the fees that are charged.




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  # 2205176 26-Mar-2019 16:34
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I wonder if it's all driven by rewards schemes. If all lost our rewards schemes there would be an outcry. The banks peddle the schemes. I can't understand why banks are letting this situation continue. It's in their interest to get us all contactless.




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  # 2205179 26-Mar-2019 16:38
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Waiting for @sbiddle to chime in here. I'm sure Steve's got something to say on credit card fees




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  # 2205184 26-Mar-2019 16:45
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With Apple Pay which needs contactless to work, it would be more secure as no one to see PIN over shoulder.

Personal view is the banks are being greedy with what they charge merchants, so I don’t blame retailers for not providing it. What’s the extra cost to the bank in providing it?

Reward schemes existed before payWave.

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  # 2205185 26-Mar-2019 16:49
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tripp:

 

The local shop up the road use to have paywave but got it removed as they were getting hit with 200 - 500 a month in fees just for that alone (so they told me when i asked about it).  They would rather wait the extra 10 seconds for a customer to put in their card and pin.  I think more retailers would have it if it was a flat fee each month or per transaction (i.e. 5 cents a transaction).

 

I love pay wave but I totally understand why shops don't have it with the fees that are charged.

 

 

The bit i hate is walking into a shop and having it all like "NO PAYWAVE"

 

One thing to not have the hardware, but to disable it because the fees are higher makes sense too.

 

 

 

IMO Creditcard providers here need to get with the times and bring fees right down.

 

Travelling through AUS is such a breeze, paywave is literally everywhere. I assume fees there are far more realistic.





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


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  # 2205186 26-Mar-2019 16:51
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As has been said many times. PayWave is not hiking up the price of fees. PayWave (or the other contactless payments) are all Credit Card based transactions, so attract the usual merchant fees. The current EFTPOS system does not have these same fees, but currently is not contactless capable. A long overdue upgrade of the EFTPOS system is needed to allow Contactless EFTPOS payments.

 

 





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  # 2205199 26-Mar-2019 17:23
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Screw Visa and their 3% tax so I use good old Eftpos whenever possible.  Apple pay is even worse - 5%.


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  # 2205212 26-Mar-2019 18:21
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Seem to be sailing against the wind based on the posts so far, but I love it. I don't care what it costs stores, it saves me time, makes my life easier and it's 2019 so if they don't give me what I want, I just don't go back.

 

 

 

 





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