Apple and Google Response to Payment Cost Heat: Eftpos Backing

Tuesday, 24 September 2024, 21:24

Apple and Google are addressing payment cost challenges with their backing of eftpos. This move enables least-cost routing for new card transactions, aiding merchants in reducing expenses. By circumventing Visa and Mastercard fees, these tech giants aim to transform the payment landscape.
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Apple and Google Response to Payment Cost Heat: Eftpos Backing

Apple and Google Join Forces for Cost-Effective Payments

In a bold response to rising payment processing expenses, Apple and Google are backing the innovative eftpos system. This collaboration will facilitate least-cost routing for new cards equipped for their smartphones. The implications are significant: merchants can save substantially by steering clear of conventional Visa and Mastercard fees.

Transforming the Payment Landscape

This initiative is poised to reshape the payment processing sector significantly. Through eftpos, merchants will experience a streamlined approach to transaction costs, enhancing their bottom line while potentially improving customer experiences.

Key Developments

  • Apple and Google enable least-cost routing.
  • Support for eftpos integration into smartphones.
  • Merchants can bypass traditional card networks.

Final Thoughts

As these tech leaders continue to innovate payment solutions, the merchant landscape may witness transformative shifts that focus on cost-efficiency, ultimately benefiting consumers through enhanced pricing structures.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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