Samsung Pay Start Charging CC Companies

[mustang7757]

Samsung Pay won't be free for credit card companies anymore

Samsung has reportedly sent notices to South Korean credit card companies, notifying them that it will charge them for Samsung Pay.

www.sammobile.com

 

[BerryBubbles]

Samsung Pay won't be free for credit card companies anymore

Samsung has reportedly sent notices to South Korean credit card companies, notifying them that it will charge them for Samsung Pay.

www.sammobile.com

Looks like the party's over.

 

[mustang7757]

Looks like the party's over.

Yup especially the way the economy going

 

[Mooncatt]

Let's count the problems here.

1. "Samsung’s decision has put credit card companies in a soup..." People getting something for nothing are shocked when the free ride is over. Color me surprised.

2. "These companies say they heavily marketed Samsung Pay over the past eight years to over 16 million users, thinking it would remain free." Unlikely. Those companies had to know the free ride could end at any time and only marketed it to gain/maintain market share. This is either speculation by the author, or gross incompetence from the companies.

3. "To cut their costs, they may reduce the benefits they used to offer to their end users." You mean the benefits that have already been degrading over the years anyway?

4. "While the government has said that contracts between the companies are autonomous, it may intervene if the charges are passed on to consumers." Impossible. The end consumer always pays the cost. If not from a price hike, then in other ways like the cut benefits from #3. Or they could cut back on wages, which has its own downsides.

Personally I don't use any of those services. I stick to plastic, so this isn't really affecting me much. If people want to make use of something like Samsung Pay, then they should pay for it. Whether it's built into the purchase price of the device (not ideal), a subscription, transaction fee, or whatever, a service needs to be funded somehow.

 

[mustang7757]

Let's count the problems here.

1. "Samsung’s decision has put credit card companies in a soup..." People getting something for nothing are shocked when the free ride is over. Color me surprised.

2. "These companies say they heavily marketed Samsung Pay over the past eight years to over 16 million users, thinking it would remain free." Unlikely. Those companies had to know the free ride could end at any time and only marketed it to gain/maintain market share. This is either speculation by the author, or gross incompetence from the companies.

3. "To cut their costs, they may reduce the benefits they used to offer to their end users." You mean the benefits that have already been degrading over the years anyway?

4. "While the government has said that contracts between the companies are autonomous, it may intervene if the charges are passed on to consumers." Impossible. The end consumer always pays the cost. If not from a price hike, then in other ways like the cut benefits from #3. Or they could cut back on wages, which has its own downsides.

Personally I don't use any of those services. I stick to plastic, so this isn't really affecting me much. If people want to make use of something like Samsung Pay, then they should pay for it. Whether it's built into the purchase price of the device (not ideal), a subscription, transaction fee, or whatever, a service needs to be funded somehow.

Good points

 

[Laura Knotek]

I use Samsung Pay, but I have never gotten any benefits from using it. It's simply something I use so I don't need to bother with plastic cards. I used to use Google Pay for the same purpose before owning any Samsung devices. AFAIK, brick and mortar stores have to pay fees for the use of credit cards anyway. I only use Samsung Pay or Google Pay in brick and mortar stores. Online shopping uses either credit cards or PayPal.

 

[trucksmoveamerica#AC]

I’m still old fashioned and use the actual card. Hell, I still use checks also.

 

[mustang7757]

I’m still old fashioned and use the actual card. Hell, I still use checks also.

I do also

 

[fuzzylumpkin]

I’m still old fashioned and use the actual card. Hell, I still use checks also.

I don't know if anywhere here would even still accept a cheque... I think I've written two of them in my entire life lol. I was in a bar on Saturday evening that wouldn't even accept cash!

 

[Mooncatt]

I was in a bar on Saturday evening that wouldn't even accept cash!

Was that in the U.S? I've heard of some places here trying that, but I question if that's even legal since U.S. currency is considered "legal tender for all debits public or private."

 

[fuzzylumpkin]

Was that in the U.S? I've heard of some places here trying that, but I question if that's even legal since U.S. currency is considered "legal tender for all debits public or private."

Nah, I'm in the UK (note my spelling of "cheque"). The government can't compel any shopkeeper to accept a form of payment they don't want to here, and I would be surprised if that were different over there in "freedomland". Although it's a lot easier for a shopkeeper to actually do it here, as most people don't carry cash anymore anyway and contactless payment is ubiquitous. I was in a different bar later that turned several people away because there was a £2 entry fee which was cash only lol.

 

[trucksmoveamerica#AC]

Was that in the U.S? I've heard of some places here trying that, but I question if that's even legal since U.S. currency is considered "legal tender for all debits public or private."

Depends on the way you purchase. If you are paying for items at a store like Walmart they can refuse cash as you have not consumed the product. If you're paying at a place such as a restaurant and you have eaten your meal they can't refuse cash unless you're notified no cash for payment before ordering.

 

[fuzzylumpkin]

Depends on the way you purchase. If you are paying for items at a store like Walmart they can refuse cash as you have not consumed the product. If you're paying at a place such as a restaurant and you have eaten your meal they can't refuse cash unless you're notified no cash for payment before ordering.

That's the same here.

 

[mustang7757]

I don't know if anywhere here would even still accept a cheque... I think I've written two of them in my entire life lol. I was in a bar on Saturday evening that wouldn't even accept cash!

Whaaaaaaat !!

I can never visit you lol

 

[donm527]

I stopped using Samsung Pay maybe two phones ago?? It was cool with MFT and NFC wasn't that widespread. But that has no longer been the case for a while and don't need both Samsung and Google Pay. Samsung always gives up on their products so better to stick with Google Pay.

 

[Laura Knotek]

I stopped using Samsung Pay maybe two phones ago?? It was cool with MFT and NFC wasn't that widespread. But that has no longer been the case for a while and don't need both Samsung and Google Pay. Samsung always gives up on their products so better to stick with Google Pay.

I figured I can always go back to Google Pay in the future if I want, unless Google cancels it. I've actually noticed more things cancelled by Google than Samsung.

 

[BerryBubbles]

I figured I can always go back to Google Pay in the future if I want, unless Google cancels it. I've actually noticed more things cancelled by Google than Samsung.

Definitely! Google is quite adept at canceling services.

 

[notforhire]

I use Samsung Pay, but I have never gotten any benefits from using it. It's simply something I use so I don't need to bother with plastic cards. I used to use Google Pay for the same purpose before owning any Samsung devices. AFAIK, brick and mortar stores have to pay fees for the use of credit cards anyway. I only use Samsung Pay or Google Pay in brick and mortar stores. Online shopping uses either credit cards or PayPal.

Merchants that accept credit/debit cards always pay a fee per transaction... roughly 2%-4%, depending on the card (Amex is the most expensive to the merchant)

 

[donm527]

I figured I can always go back to Google Pay in the future if I want, unless Google cancels it. I've actually noticed more things cancelled by Google than Samsung.

Lol, well after thinking about it, Google does have a long history of that on a broader scale...

Killed by Google

Killed by Google is the open source list of dead Google products, services, and devices. It serves as a tribute and memorial of beloved services and products killed by Google.

killedbygoogle.com

But Samsung has quite the record too of introducing similar products that may compete with Apple or Google or even unique ones geared to their phones only to give up on them and remove them in future models.

The only Samsung product I can think of off the top of my head that I continue to use and has lasted so long is Samsung Internet Browser. One of their best products imo and hope they continue supporting it. Much better and more feature rich than Google Chrome.

 

[joeldf]

I don't know if anywhere here would even still accept a cheque... I think I've written two of them in my entire life lol. I was in a bar on Saturday evening that wouldn't even accept cash!

My electric company still takes checks. Heck, they still charge a "convenience fee" paying on-line.