Haha. All these rumors have been coming in since the start of Apple Pay. That was in 2014/2015!

sad but true
whenever ppl said must come must come
then blame to bnm still considering lah this and that
while we have no way to verify their source
so what we can do is just follow the syiok loh

Banks Pressuring Visa to Cut Back on Apple Pay Fees

Very simple analogy for local banks not to adopt Apple Pay: I have to pay more fees for every single transaction through Apple Pay! Hell no~!
Consumer and merchant has no impact at all, it's the banks who needs to pay for the fees to Apple.

For consumer there is a choice of payment mode whether to pay by cash, ewallet, credit card, debit card, hoolah, paylater, split, or whatever out there. Zero cost to consumer.

For merchant, they are many invisible traps and profit eater.
If you pay by ewallet e.g. T&G, those SME with no branches will not be charged (that's why they like it), they need to display QR code, no electricity needed.
If you pay by 3 payments using hoolah or paylater, merchant needs to pay a fees to them (not sure the fees)
If you pay by debit card, merchant is likely to be charged 0.5% of the transaction value.
If you pay by credit card, merchant is likely to pay between 1.5-3.5% depending on card issuer, of course amex is the highest and not many merchant will take it, as a counter measure, amex will encourage consumer to spend gila2 on weekend coz they give 5x amex points, but at the same time merchant earn lesser as u spend more on amex.
But if you pay by Apple Pay, merchant still need to pay merchant fees between 1.5-3,5%, but card issuing bank will need to pay a fees to Apple.

And on top of that, all card merchant need to charge/power up their card terminal, replace and buy thermal paper, pay annual terminal fees to banks. It's a cost just to accept your lifestyle priviledge.

If you pay by cash, merchant will thank you so much as they will keep what they should have earned.

This post has been edited by carte82: Nov 9 2021, 12:01 PM

Continue from the last statement, if merchant received fake note, or wrong change, they will curse you.

BNM punya response, any takeaways?

finally we will have multi-currency card support for malaysian's wise users.

Saw their website just now showing can top up via MYR, so enable apple pay still need to change region?

Would really love to know if you are able to add the card into Apple Pay.

But I doubt so. I've check the JSON file by Apple, I still see no "MY" in it.

if wise card available in MY should be from MY bank right? just like we open an account with SG, the card is DBS
if that is the case, dont think can add MY Wise Card to Apple Pay (even change region) but is good someone can try out let us know

Yeap. Should be by a MY bank. Need to find out which bank now.

I bet on MBB

Tough luck.


MBB is listed as their competitor. So I highly doubt it's MBB.
CIMB? HLB? UOB? But yeah, who knows, it really could be MBB as MBB is the biggest in MY andddd they are pretty known to grab all new services into the country.

Yes, unable to add even change region. I’ve tried

Standard reply, it isn't up to BNM to decide when the technology should be here. Up to the banks/financial services companies to decide to bring it in here or not.

JPMorgan Chase Bank Berhad

I've changed my Wise to MY from SG (have to submit some paperwork).
Able to see that the Account Details bank is JPMorgan Chase.

Pros:
1) Wise card can still be used.

Cons:
1) When I want to reload MYR Wise, it will still ask me to pay in SGD.
2) Every setting under Account Limits -> Spending Limits are still in SGD.

Write an email to Wise, have issue #1 similar as u and got it fix.

You mean my Cons #1? It can be rectified?

submit from in app? after change to MY apple pay still can use?

Yeap. Inform the CS that you recently relocated. But let me check first if I’m able to reload MYR using MYR (1 to 1) first on Monday as I need to contact their CS to change my “main currency” to MYR.

But yes for now, AP is usable. I am not sure if we can still add the card to Wallet IF WE REMOVE IT so please do not remove if you have changed to address country MY.

ok, keep us update if you have new findings