[xoxoy]

there’s probably very little fraud with touchless payments like Apple Pay - most issuers require some verification to add the card to a phone in the first place. if that becomes a growing % of in person payments i don’t see the justification for high card present rates.

also some data suggests people have moved to more debit transactions during Covid over credit which are cheaper to process anyway and usually means less fraud - so maintaining a fixed processing rate means margins for processors are probably even better right now

[thoraway1010]

I wonder if Apple and Google and Facebook and Microsoft and Stripe had just done something "anti competitive" and entered the payment space squarely themselves if rates would come down. They seem more consumer experience directed than other players.

The security they can deploy (apple pay seems pretty good now as long as card onboarding isn't broken) seems like they could drive down to basically low interchange?