@BrianRoemmele we in the media had no idea it's only ~ 75 bps. So clearly we relied on retailer numbers. So where are retailers getting 5%?
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Replying to @collegeitdept
@collegeitdept 2) Merchant accounts are the most competitive business and someone paying 5% will see 100s of calls to lower rates.1 reply 0 retweets 0 likes -
Replying to @BrianRoemmele
@BrianRoemmele calls asking for lower rates. Doesn't mean the banks will acquiesce4 replies 0 retweets 0 likes -
Replying to @collegeitdept
@collegeitdept 2) To be fair, these entities take risk when cardholders do not pay or go bankrupt.1 reply 0 retweets 0 likes -
Replying to @BrianRoemmele
@BrianRoemmele so small merchants never pay? "Charge backs"?1 reply 0 retweets 0 likes -
Replying to @collegeitdept
@collegeitdept The chargeback is always on any merchant but in retail it is not common because a card was present.1 reply 0 retweets 0 likes -
Replying to @BrianRoemmele
@BrianRoemmele oh! Yes. That makes sense. But if card not present IE: online on Amazon. If there's fraud Amazon pays?1 reply 0 retweets 0 likes -
Replying to @collegeitdept
@collegeitdept yes, card not present is where to basic chargebacks form: 'Not what I ordered' or 'Card was stolen' merchant loses in both.1 reply 0 retweets 0 likes -
Replying to @BrianRoemmele
@BrianRoemmele so. If there's fraud on in-app purchases Apple covers the losses? Even if Apple Pay is nearly 99.9% fraud free?2 replies 0 retweets 0 likes -
Replying to @collegeitdept
@BrianRoemmele if merchants pay for the fraud for CNP transactions. Why is CNP rates higher? Shouldn't it be lower to none. No insurance1 reply 0 retweets 0 likes
@collegeitdept merchants that are CNP have more fraud to the Banks. They also go out of business and leave bank holding the chargebacks.
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Replying to @BrianRoemmele
@BrianRoemmele so technically then if Target gets CP rates. Why not CP rate on their in-app Apple Pay app?1 reply 0 retweets 0 likes -
Replying to @collegeitdept
@collegeitdept ahh! This is the question! Apple is still debating with banks on this. I suspect a biometric Interchange for in-app lowered.1 reply 0 retweets 1 like - 8 more replies
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