fne8w2ah@lemmy.world to News@lemmy.worldEnglish · 8 days agoWalmart to accept Apple Pay and Google Pay at all U.S. storesqz.comexternal-linkmessage-square14linkfedilinkarrow-up152
arrow-up152external-linkWalmart to accept Apple Pay and Google Pay at all U.S. storesqz.comfne8w2ah@lemmy.world to News@lemmy.worldEnglish · 8 days agomessage-square14linkfedilink
minus-squareemergencyfood@sh.itjust.workslinkfedilinkarrow-up4·8 days agoSo why didn’t they do it till now?
minus-squarezikzak025@lemmy.worldlinkfedilinkarrow-up9·8 days agoThey wanted to push people onto their shitty app. They wanted people to link their bank details directly to pay so they could farm all that juicy consumer data.
minus-squareTaldan@lemmy.worldlinkfedilinkarrow-up6·8 days agoLinking a bank isn’t about consumer data. It’s about cutting out all the parment fees Credit cards are expensive to accept. If you’re using an Amex through Apple Pay, it’s around 5% because of how many layers are taking a cut Walmart’s margins would about double without having to pay payment provider fees, which they don’t have to pay with direct withdrawal
So why didn’t they do it till now?
They wanted to push people onto their shitty app. They wanted people to link their bank details directly to pay so they could farm all that juicy consumer data.
Linking a bank isn’t about consumer data. It’s about cutting out all the parment fees
Credit cards are expensive to accept. If you’re using an Amex through Apple Pay, it’s around 5% because of how many layers are taking a cut
Walmart’s margins would about double without having to pay payment provider fees, which they don’t have to pay with direct withdrawal