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Comment by onlyrealcuzzo | Hacker News Reader

Wait. What? I use credit cards for the consumer protections they provide. A store claims to have some type of return policy -- if I buy with credit, and they don't follow that policy -- I get my money back no matter what. With cash, that's not guaranteed.

What do you mean?

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That is exactly what the parent was saying. They would not consider a financial product that bypasses the major payment processors (Visa/MC) unless it has similar customer protections built in.

I'm confused. The Apple card is a MasterCard.

And the post at the head of this thread contemplates the utility of Visa/MC in general. Not really a concern leveled at Apple's thing in specific, and I wouldn't want my concern about consumer protections to be construed as such.

The original question:

How long until these companies start skipping payment processors like Visa and Mastercard?

Should that come to pass, the Apple card becomes...an Apple card.

I see. I guess it seems fundamental to me that a credit card would have these properties -- even though it's not necessary to actually fulfill the role of a credit card -- which is just to provide credit.

The two seem intertwined, even though they aren't. I just assumed Apple -- if they became a payment processor -- would still provide those protections.

If they didn't, which I see is maybe what the OP was alluding to, why would anyone use the card?

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