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Joined 3 years ago
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Cake day: June 12th, 2023

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  • Kinda

    In a normal transaction without a phone you use a plastic card issued by MasterCard/Visa/Amex (or a local processor). The processing company charges a merchant a small percentage fee on that transaction to the business. In some places they might add that processing fee to the bill, but that’s illegal in my country nowadays.

    When you add Google/Apple into the mix, they’re importantly not replacing anyone, they’re just adding themselves in to basically just replace the “plastic” part with “virtual” in what I said before. So the payment processor still takes the same fees they always have, it’s just a phone talking to the card reader rather than a chip in a card.

    So how do they make money? I believe Apple just charges the bank a small percentage, which I imagine they reconcile out of the payment processor fees. Google, on the other hand, I think offers it to banks for free, because as is tradition, they’re more interested in the data.



  • 9point6@lemmy.worldtoAsklemmy@lemmy.mlWhy NFC on phones?
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    29 days ago

    UK/EU has had contactless payments via our bank cards for about 2 decades now. America caught up eventually some years later

    When phones got the ability to act as our bank cards, it made sense for them to use something compatible with the same technology that was already deployed

    Funnily enough, America (and I guess also Korea, given the companies) dragging their heels on standard contactless is one of the main reasons why Samsung/LG briefly put out a couple of generations of phones that had a magnetic stripe mimicking payment feature in addition to standard NFC (https://en.wikipedia.org/wiki/Magnetic_secure_transmission)





  • Money and sales charts

    Being top of a sales chart was a big deal a couple of decades ago as it usually meant a product got better placement on the shop shelves

    So then marketing budgets could be focused on different areas at different times, meaning greater chance of getting higher in the charts

    That and localisations generally taking time and studios not wanting to cannibalise sales of a local version with imports

    Also regional pricing, they could sell more in poorer countries for lower prices, but they didn’t want to give up the greater amount they can ask for from richer countries



  • Barely used doesn’t mean useless

    They’re not for regular people making regular transactions, it’s kinda intended for high value transactions

    Wealthy people selling things (semi-)privately to each other is one obvious one, things like those £50k watches. Sometimes these wealthy people want to do their spending with utmost discretion, so cash is king.

    Another is pawnbrokers, private currency exchanges and similar kinds of business that just have to deal with a lot more cash than is typical.

    Don’t get me wrong, its usage will definitely be in decline, but I don’t see them taking it out of rotation any sooner than the fiver









  • The hell are you on about?

    Someone who basically just uses their screen to pull up a recipe to make dinner with is not going to have any problems. Similarly for someone who uses it to keep in contact with friends (directly, not via a social network).

    Someone who only spends a half hour a day using their phone, but that usage is scrolling on twitter or some bullshit like that? They’re absolutely going to have problems. It only takes a few seconds to read a post and then a shitty idea might lodge itself in their head.

    Focusing on just screen time rather than the content on it is expressly not focusing on the root cause, and we’re not going to fix anything if we focus on just the symptoms. It’s like trying to ban hammers because someone is smashing your windows with one. The hammer isn’t really the cause of the problem, and the person doing the smashing will continue a different way if they aren’t stopped.