Walmart and Best Buy Opt Out of Apple Pay – Required Point-of-Sale Upgrades

Re:Walmart and Best Buy Opt Out of Apple Pay – Required Poin... by chrisseaton on Saturday September 13, 2014 @08:13AM (#8312176)

In the UK it's often stated that £1 in every £7 spent in the UK is spent in Tesco - a large supermarket chain. http://www.telegraph.co.uk/news/politics/8471807/Its-time-Te.... This similarly sounds impossible. Maybe there's some extra constraints they don't mention - just supermarkets, or just consumer spending. I know I certainly don't spend anything like £1 out of every £7 in Tesco, or any other supermarket. For example I'm sure I've spent many times more on buying my house than I will in Tesco in my entire life.

This is the sort of thing that More or Less should look at http://www.bbc.co.uk/programmes/b006qshd.

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Re:Walmart and Best Buy Opt Out of Apple Pay – Required Poin... by justincormack on Saturday September 13, 2014 @08:30AM (#8312204)

That must be wrong.

Tesco turnover is £63bn, UK GDP is £1550bn, so it is 4% of GDP, which is equal to total expenditure.

Your house is misleading, as assuming you borrowed the money, that is other people's deferred expenditure (saved money) which you will pay back later, so that nets out when you pay the money back.

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Re:Walmart and Best Buy Opt Out of Apple Pay – Required Poin... by tim333 on Saturday September 13, 2014 @09:55AM (#8312376)

Apparently it's "Tesco is expected to confirm this week that one pound in every seven that is spent in British shops goes through its tills." So house sales not included.

http://www.telegraph.co.uk/news/uknews/1548742/1-in-every-se...

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Re:Walmart and Best Buy Opt Out of Apple Pay – Required Poin... by lazylizard on Saturday September 13, 2014 @10:02AM (#8312391)

2 things.

1. Y = C + I + G + (X − M) .

2. but C is 250838 GBP Million in the first quarter of 2014, 249105 GBP Million in the fourth quarter of 2013. so C is around 1 billion.

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