Apple Pay

[Moliphino]

I use Google Wallet. I like it because it's more secure. It uses a uniquely generated card number for each transaction, so there is much less chance for fraud. I find it as easy as using a credit card, since I tap to pay with cards everywhere I shop.

I do only carry one credit card along with my drivers license when I need to go out. I hate having cash on hand.

The one time I actually turned on the virtual card option in Google for an online purchase, my card was compromised shortly after. Never used it again and haven't had a card compromised since.

 

[DLgal]

The one time I actually turned on the virtual card option in Google for an online purchase, my card was compromised shortly after. Never used it again and haven't had a card compromised since.

Okay.

Correlation doesn't equal causation. Unless you had never used the card before or since, you have no way of knowing by who or when your card number was stolen. Credit card numbers are for sale on the dark web. It could have been stolen years ago.

I have not had one instance of fraudulent use since I switched to primarily using Google Wallet.

 

[Moliphino]

Okay.

Correlation doesn't equal causation. Unless you had never used the card before or since, you have no way of knowing by who or when your card number was stolen. Credit card numbers are for sale on the dark web. It could have been stolen years ago.

I have not had one instance of fraudulent use since I switched to primarily using Google Wallet.

My experience did not inspire confidence, that's all I'm saying.
I have a different card saved on Google without the virtual card and have never had an issue with that one.

 

[wvjules]

Rather than trying to convince, I think the "Apple Pay' people are simply responding to those posting incorrect info on how it works.

The "Apple Pay" people are just sharing info like everyone else here.

Good for you, though.

Exactly.

Also, not related to the above response....FOR ME, it is more convenient to double click the button on the phone than to open my purse, get out my wallet and then pry a card out of the slot.

 

[Babs Johnson]

Good for you?

It looks like the "Apple Pay" folks are trying REALLY hard to convince others that their way is the best way. Why do you (general) care whether someone else uses cards, cash, or (heaven forbid) a check?

Yep, there is certainly an undertone that Apple Pay is the only method that sophisticated people should use, and those not conforming are uneducated heathens living in the Stone Ages.

I have Apple Pay and sometimes use it, but I still prefer to dig out my wallet, take out a card, and tap or insert it into the terminal. Sorry (not) if I hold up the line for 10 seconds.

 

[Uncle Coaster]

*They* will not accept your cash for any purchases, no. The machines are located near the lockers and they are third party owned and operated. They are like a vending machine.

The conversation I was replying to was about being able to use cash at a place of business not about who processed the transaction. Bottom line is you can still spend cash inside the park.

 

[RedHead0186]

I'm fairly new to Google Pay (sorry, not an Apple girl). I was skeptical to go the digital route and didn't fully understand how it works. But then I got a Pixel Watch a couple of months ago and set up one of my cards to pay with the watch through Google Pay.

I hadn't used it yet though (chalk it up to old habits die hard), until I was at Hollywood Studios last week. Got caught in a downpour and had just finagled my poncho over myself and my loungefly bag. I wanted to buy some popcorn, but the thought of contorting myself to get my wallet out of my loungfly from under my poncho was dauting. Then I realized all I had to do was double-tap the crown button on my watch and hold it to the reader and voila! My popcorn was paid for.

I know that maybe seems silly but for me it was kind of eye-opening how it easy it was to use.

 

[kdonnel]

I have Apple Pay and sometimes use it, but I still prefer to dig out my wallet, take out a card, and tap or insert it into the terminal. Sorry (not) if I hold up the line for 10 seconds.

Ideally, no matter the payment method of choice, you dug your payment method and tapped or inserted it into the terminal well before the cashier is done ringing up the items.

No one had to wait any seconds, unless you are a time traveler and paying with a check

Almost every retailer I visit lets you pay with debit/credit as soon as the first item is scanned.

 

[tvguy]

Cash absolutely costs a merchant. They need to invest in a good safe to store it in. They need to either pay an armored car company for cash pickups/deliveries or they need to use man hours to go to the bank every morning. They need to maintain a bank account and pay any associated fees. It costs man hours to count and reconcile cash drawers numerous times a day. And there is a risk calculation about being robbed when you have cash on the premises.

Well, it is MUCH cheaper than the credit card fees according to the owner of the Gourmet Hamburger stand. I would think EVERY business has a bank account to pay employees, suppliers, etc. If they are paying fees, they need to find a business friendly bank that doesn't charge fees.
Like I posted, I had a job where we had to count out a cash drawer, took 5 minutes a night so minor expense, no where near the 3 or 4% of every credit card sale.

 

[kdonnel]

Well, it is MUCH cheaper than the credit card fees according to the owner of the Gourmet Hamburger stand. I would think EVERY business has a bank account to pay employees, suppliers, etc. If they are paying fees, they need to find a business friendly bank that doesn't charge fees.
Like I posted, I had a job where we had to count out a cash drawer, took 5 minutes a night so minor expense, no where near the 3 or 4% of every credit card sale.

More than likely that new owner is not looking at all the hidden costs.

Among the already mentioned costs of accepting cash, accounting is much more involved and error prone for businesses that are heavy on cash transactions.

A high volume business like a Gourmet Hamburger stand at lunch time will find that debit/credit is on average a quicker transaction than cash. That quicker transaction adds up during the lunch rush and could mean keeping the line shorter which entices more people to enter the line resulting in more sales.

The retail industry estimates that it takes 14 minutes on average to count a drawer and perform the needed paperwork associated with the count.

The average medium sized retailer estimates a total labor cost of 500 hours a month going to cash handling.

 

[Robber Baron]

Well, as the lady that owns my favorite cheese shop is thinking of going cash only. She is paying $5,000 a month in credit card fees.

Average credit card fees in the U.S. are 1.5% - 3.5%.

$5,000 in CC fees a month means that cheese shop is doing extremely well.

Splitting the difference at 2.5% means your little cheese shop is averaging $200,000 a month in just credit card charges.

Anyone want to open a little cheese shop with me?

 

[tvguy]

Average credit card fees in the U.S. are 1.5% - 3.5%.

$5,000 in CC fees a month means that cheese shop is doing extremely well.

Splitting the difference at 2.5% means your little cheese shop is averaging $200,000 a month in just credit card charges.

Anyone want to open a little cheese shop with me?

I can't get out of there without spending $100. Cheese is not cheap. And $200,000 is before expenses. Not sure what their markup is, but say 50%, that means you HAVE to sell a lot of cheese to also pay the rent, insurance, utilities (I imagine their electric bill to run all those coolers is pretty steep) salaries and taxes.

 

[kdonnel]

I can't get out of there without spending $100. Cheese is not cheap. And $200,000 is before expenses. Not sure what their markup is, but say 50%, that means you HAVE to sell a lot of cheese to also pay the rent, insurance, utilities (I imagine their electric bill to run all those coolers is pretty steep) salaries and taxes.

They are still killing it with their business.

The average sole proprietorship grosses less than $50,000 a year.

 

[tvguy]

More than likely that new owner is not looking at all the hidden costs.

Among the already mentioned costs of accepting cash, accounting is much more involved and error prone for businesses that are heavy on cash transactions.

A high volume business like a Gourmet Hamburger stand at lunch time will find that debit/credit is on average a quicker transaction than cash. That quicker transaction adds up during the lunch rush and could mean keeping the line shorter which entices more people to enter the line resulting in more sales.

The retail industry estimates that it takes 14 minutes on average to count a drawer and perform the needed paperwork associated with the count.

The average medium sized retailer estimates a total labor cost of 500 hours a month going to cash handling.

Not a new owner, he opened it 12 years ago.
Based on my experience, there is zero difference in the time to process a cash or charge purchase. With the charge you have to wait for the customer signature copy to print, the store copy to print, the customer to sign the slip. That takes AT LEAST as much time as making change. However, I generally phone in my order and they give you the total then, and I have exact change available, so my cash sale is probably quicker.

But what do I know, all I know is the merchants that take both cash and charge say they make more on a cash sale and I think they would know.

 

[eticketplease]

The conversation I was replying to was about being able to use cash at a place of business not about who processed the transaction. Bottom line is you can still spend cash inside the park.

Inside the park you can put money into a machine that will put money on a visa to use through out the park and elsewhere after leaving.

The issue again as @DLgal stated the theme park does not take cash at all and the machines are inside the park.

So unless you had purchased a ticket somewhere else cash will not work as you can not load it onto the Visa card.

 

[Uncle Coaster]

Inside the park you can put money into a machine that will put money on a visa to use through out the park and elsewhere after leaving.

The issue again as @DLgal stated the theme park does not take cash at all and the machines are inside the park.

So unless you had purchased a ticket somewhere else cash will not work as you can not load it onto the Visa card.

I’m not disagreeing with any of that. My point was simply that they aren’t fully cashless if there are ways to spend cash at the park.

 

[eticketplease]

I’m not disagreeing with any of that. My point was simply that they aren’t fully cashless if there are ways to spend cash at the park.

I won't comment on this anymore but my thoughts are you are not spending cash in the parks as they are not taking it so that business is fully cashless.

A third party is exchanging your cash for a visa card.
You can't buy a ticket with cash so therefore you can't even exchange without purchasing a ticket as the machines are all inside the park.

If you do exchange and if you don't use all of the money that you loaded on the card there is a certain fee after a certain amount of time. Granted you can use the Visa card elsewhere but it is a complete hassle that you shouldn't have to go through.

On top of the potential fees, we have most likely all experienced the issue when the vending machine will not take our bill as it is too wrinkled. I can just see a meltdown happening because we can't purchase a souvenir even though we have the money but the machine will not accept it.

I don't agree with their methods but that is what is being done.

 

[DLgal]

Not a new owner, he opened it 12 years ago.
Based on my experience, there is zero difference in the time to process a cash or charge purchase. With the charge you have to wait for the customer signature copy to print, the store copy to print, the customer to sign the slip. That takes AT LEAST as much time as making change. However, I generally phone in my order and they give you the total then, and I have exact change available, so my cash sale is probably quicker.

But what do I know, all I know is the merchants that take both cash and charge say they make more on a cash sale and I think they would know.

Dude, do you live in 1995? Where are you regularly signing credit card sales slips for purchases, besides some sit down restaurants?

Every single business I shop at has tap to pay terminals that process a payment in less than 2 seconds. It is FAR faster than using cash.

 

[DLgal]

I’m not disagreeing with any of that. My point was simply that they aren’t fully cashless if there are ways to spend cash at the park.

Are you being serious? No, there are NO ways to spend cash in the park. Zero.

You can PUT cash into a machine and EXCHANGE it for a debit card. You are not "spending" your cash when you do that. You are trading it for a card so you can use the card to pay for things.

 

[DLgal]

I won't comment on this anymore but my thoughts are you are not spending cash in the parks as they are not taking it so that business is fully cashless.

A third party is exchanging your cash for a visa card.
You can't buy a ticket with cash so therefore you can't even exchange without purchasing a ticket as the machines are all inside the park.

If you do exchange and if you don't use all of the money that you loaded on the card there is a certain fee after a certain amount of time. Granted you can use the Visa card elsewhere but it is a complete hassle that you shouldn't have to go through.

On top of the potential fees, we have most likely all experienced the issue when the vending machine will not take our bill as it is too wrinkled. I can just see a meltdown happening because we can't purchase a souvenir even though we have the money but the machine will not accept it.

I don't agree with their methods but that is what is being done.

It's not even just souvenirs. It's all food and drink as well. They do not allow in any outside food or drinks except sealed water bottles and baby food (literal baby food). And they check bags thoroughly. And they are strict about it. They will make you return a granola bar to your car. Seen it happen.

They aren't hurting for business either. The place is packed every day.

Most people just load their credit card to the wristband for the day and tap to pay for things.