What's the most efficient payment method? (visa, google pay etc.)

Sugar_Rush

I see many people using a code scanner on their phones to pay in supermarkets currently.

Buying online I just use my visa card.

Buying in store I normally use the "tap" feature, but is there a fee associated with doing that? As in when you use an ATM you're charged whatever, 50 cents per transaction.

Folk using their phones, what apps are mediating those transactions? Google pay, cash app, paypal, revolut....... anything else?

coylemj

Are there fees for doing a tap? You need to check with your own bank, most of them have a downloadable document which sets out their fees. You may be paying a monthly or quarterly service charge which covers any number of taps or you may be charged a specific fee per contactless transaction.

Whether you tap your phone (which uses Google Pay or Apple Pay) or your card, that counts as a contactless transaction. Using your phone is a matter of convenience because it saves you having to dig your card out of your purse or wallet, the fees (if any) will be the same as tapping the card.

macvin

Advantage of the phone is that you can use it for all amounts whereas tapping is max €50

Visa / Mastercard are payment facilitators. They have a set fee for payment (very small less than 0.05%). Their system is used by financial institutions around the world to have their business customer accept payments and all their customers make payments. These banks in turn will add their own charges. Example is a retailer will pay 0.2% for a debit card transaction.

Some banks charge a monthly account fee and no extra for contactless transactions, some will charge 5c. Simply down to your bank rather than whether its visa or mastercard.

Sugar_Rush

https://www.boards.ie/discussion/comment/119235248#Comment_119235248

Actually I'd mentioned cashapp as I'd read about it on a US forum. I wasn't actually aware it was functional in the EU.

But I'll check it out.

I really want a payment means that doesn't debt me additionally (20 cents etc) when used, like when you use an ATM?

Tapping, as an example. I'm unsure the fees associated with that but historically there always have been.

Google pay, cashapp, revolut, need to start using these.

.....

I'd also like to get linked in with a payment system that's good for accepting payments (running a clinic, save me having to use a card reader like "sumup" etc).

Though accepting payments via google pay/cashapp, the payee has to be setup with also right? They can't pay on them using their visa card directly?

beya2009

Hi does anyone know if it's possible to send money to family in the U.S. using the cashapp from Ireland?

beya2009

https://www.boards.ie/discussion/comment/119416436#Comment_119416436

lol does anyone know?:) I don't wanna set up the app if that's not possible.

beya2009

Nevermind...I did not realise when you set u cashapp there is a waiting list. Owners must think they have a monopoly lol