We continue to work with bank as well. In order for a bank to be added they have to choose to support Garmin Pay. We encourage customers to contact their banking institutions as well in hopes that the more people that request this feature, along with our communication with the banks, that they will choose to support Garmin Pay.
You have to understand how credit cards actually work to understand why. When you use a credit card it actually transacts between the store and a Payment Processor. The payment processing company then sends the transaction to the Acquiring Bank, which then forwards to the Card Brand (Visa for example) and then the Issuing Bank (Chase for example). The transaction is authorized and sent backward through the same process. Garmin must have their device approved by the Issuing Bank, as they are the ones that finally validate the transaction and make the payment, the Card Brand is just a "middle man" and takes money for branding and general acceptance really and the Acquiring Bank is the bank that the merchant sets up to receive the payment. The Payment processor aggregates transactions to make the individual cost lower for smaller credit card users like stores.
Pretty complicated process, which is why blockchain will revolutionize this area.
You have to understand how credit cards actually work to understand why. When you use a credit card it actually transacts between the store and a Payment Processor. The payment processing company then sends the transaction to the Acquiring Bank, which then forwards to the Card Brand (Visa for example) and then the Issuing Bank (Chase for example). The transaction is authorized and sent backward through the same process. Garmin must have their device approved by the Issuing Bank, as they are the ones that finally validate the transaction and make the payment, the Card Brand is just a "middle man" and takes money for branding and general acceptance really and the Acquiring Bank is the bank that the merchant sets up to receive the payment. The Payment processor aggregates transactions to make the individual cost lower for smaller credit card users like stores.
Pretty complicated process, which is why blockchain will revolutionize this area.
Working for me as of today. Added a capital one visa and used it to pay for lunch. Was extremely easy to use. Very nicely implemented, for those who have banks available.
