Somehow I always thought it was just a matter of using the phone’s NFC chip to mimic the credit card, but a shop owner told me they actually take a cut. Is it bullshit or have I been naïve?
Somehow I always thought it was just a matter of using the phone’s NFC chip to mimic the credit card, but a shop owner told me they actually take a cut. Is it bullshit or have I been naïve?
They do take a cut. But they take a cut from the credit card company, not from the shop owner and not from you. The cut the shop owner has to pay is the same as with a „normal“ credit card payment.
So the fee is now shared between the credit card company and Apple/google (I don’t know how much, but I doubt it is 50:50)