[2015-11-24] Apple Pay’s Competition In China Includes Bitcoin

[jdebunt]

Apple Pay is one of the most hyped mobile payment solutions in existence today. Truth be told, Apple is a major name in the world of mobile devices, and the company is known to create and deliver quality products and services. But that does not necessarily Apple Pay will ever become a success, even though the service could launch in China as soon as February 2016.

http://themerkle.com/news/apple-pays-competition-in-china-includes-bitcoin/

[1Referee]

I can't see the value of ApplePay. Correct me if I'm wrong, but the fees are the debit card fees + Apple getting a cut of 0.15% of the 2 or 3% fee that marchants are paying to companies as MasterCard and Visa, and so on. Which is ridiculous of course. It gives no benefit to merchants at all.

Bitcoin could help the merchants do better business and reduce the amount of fee that they pay on a yearly base by around $500-$1000 for the smaller merchants, and probably tens of thousands for the larger companies. Another huge plus is that they don't lose money because people are charging back merchants to make them lose another few thousand of items. Bitcoin is a plus on each level. It's superior.