How do you get the low rate of 1.12%? I thought most small businesses paid close to 3% processing fees. I see Square charges 2.65% for processing and now 2.75% for contactless. So for their existing customers it's only gone up by 0.1%? Seems fair.
Or is this 2.75% ON TOP of existing fees (which would seem ridiculous)?
EDITED: On another note, they can sell this reader for $49? If their fees are competitive with other processors, how can anyone claim price is the barrier to merchants upgrading to NFC?
Also, on top of that small businesses can get that $49 refunded with their first processing of ?Pay
That looks so stupid. I'm waiting for Apple's solution.
Apple solution will be opening the NFC API to developers. Even if they do, do you think Apple will allow other payment options like Google & Samsung Pay in their App Store? I don't see it happening.
I don't understand this news article. These NFC readers have been available for preorder for months now and even the first preorders won't be shipping until next year. How is today the announcement day for this product?
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That looks so stupid. I'm waiting for Apple's solution.
Apple solution will be opening the NFC API to developers. Even if they do, do you think Apple will allow other payment options like Google & Samsung Pay in their App Store? I don't see it happening.