Apple Could Be Working with Goldman Sachs on a Credit Card

Re:Apple Could Be Working with Goldman Sachs on a Credit Card by tokyodude on Thursday February 21, 2019 @01:08PM (#19219035)

Is this the point where Apple starts to demand 30% of all physical goods purchased through iOS? I mean why not? What's the justification for 30% of netflix or youtube subscriptions or digital goods in general? That same justification would seem to apply to physical items just as easily.

In any case I don't know the non-credit-card based payment systems in the USA and if any of them are taking off.

Here in Japan several have sprung up recently including PayPay by Softbank and they are currently charging 0% to retailers for the first 3 years and apparently 0% if the retailers signs up for their bank.

To customers they are offering 20% off all purchases up to $10 a purchase (so in other words $10 of a $50 purchase) and you're allowed to collect up to $500 total over the campaign. And they give you $5 to sign up.

https://paypay.ne.jp/

Also surprising is Paidy run by DMM (a company that makes the majority of their money selling porn but has been branching out like crazy)

https://paidy.com/

It does make me wonder how credit card companies can possibly keep their lock. I'm guessing they'll try to get everyone else banned?

IIRC PayPay works via OR code so no need to go through Apple Pay (NFC) or similar and just as fast or faster. Potentially you could even use it without an app.

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Re:Apple Could Be Working with Goldman Sachs on a Credit Card by chrisseaton on Thursday February 21, 2019 @02:38PM (#19219859)

> What's the justification for 30% of digital goods in general?

What's the justification for any price? The market supports it.

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Re:Apple Could Be Working with Goldman Sachs on a Credit Card by anth_anm on Thursday February 21, 2019 @06:02PM (#19221467)

The alternative is you get no access to iOS.

It's not a market, it's a walled garden.

This shit is why I am so in favour of Epic's game store. 12% because they can. Finally challenging the absurdity of 30%.

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Re:Apple Could Be Working with Goldman Sachs on a Credit Card by Shivetya on Thursday February 21, 2019 @04:06PM (#19220582)

There are stories they are demanding 50% with regards to their new News subscription service so perhaps 30% wasn't the limit.

https://9to5mac.com/2019/02/12/apple-news-subscription-servi...

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Re:Apple Could Be Working with Goldman Sachs on a Credit Card by twblalock on Thursday February 21, 2019 @01:29PM (#19219211)

> It does make me wonder how credit card companies can possibly keep their lock. I'm guessing they'll try to get everyone else banned?

They offer perks. For example, I use cash-back credit cards for nearly everything, including with Apple Pay. It's like everything I buy is slightly discounted. The travel cards are also really popular. The perks offered by the non-credit payment systems are not as good and usually temporary.

The non-credit based systems are popular in countries where credit card use is less prevalent. Asian countries were largely cash-based until now, so it makes sense that electronic "cash" is the next step.

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Re:Apple Could Be Working with Goldman Sachs on a Credit Card by techslave on Thursday February 21, 2019 @04:21PM (#19220683)

> It's like everything I buy is slightly discounted.

You do realize that the price is marked up to account for this “discount”, right?

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Re:Apple Could Be Working with Goldman Sachs on a Credit Card by twblalock on Thursday February 21, 2019 @06:50PM (#19221801)

Of course businesses pass their costs on to customers, including the cost of credit card processing fees.

But that doesn't mean I get a discount today for using cash, so I'll use the card and get cash back.

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Re:Apple Could Be Working with Goldman Sachs on a Credit Card by debt on Thursday February 21, 2019 @02:22PM (#19219746)

"hat's the justification for 30% of netflix or youtube subscriptions or digital goods in general? "

I believe they've been able to negotiate that down to 15%.

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Re:Apple Could Be Working with Goldman Sachs on a Credit Card by Eridrus on Friday February 22, 2019 @01:50AM (#19223620)

Because iOS has you by the balls for digital goods, but not for physical goods. It would also be far harder to impose an Apple tax for in-browser Shopping. If they made their own app, I would expect them to take a cut.

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Re:Apple Could Be Working with Goldman Sachs on a Credit Card by Svoka on Thursday February 21, 2019 @07:38PM (#19222069)

This comment seems out of nowhere. At this point apple offers Apple Pay at extremely low operating costs, low enough for banks not to charge extra for processing it from vendors. I heard they're lover than 0.5%

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