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Apple Celebrates 10-Year Anniversary of Apple Pay With Open Letter and Interview
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Apple Pay and the percentage back Daily Cash are more fair to the user/consumer. Especially compared with some of the BS that banks and card issuers try to pull with their cash back and points programs.
In USA where small businesses that accept card payments by magstripe card readers only will be forced to adopt EMV chip card readers with contactless feature because magstripe of bank cards from Mastercard will be removed by 2030.
Manual entry of these cards will also bring high prices from payment processors by 2030.
Swiping left on magnetic stripes
With the rise of the chip card, this once-pioneering payment technology is being retired.
www.mastercard.com
It is like when they said goodbye to card imprinters.
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In New Zealand, you pay a surcharge in most small businesses if you use paywave and Apple Pay.
I am getting 2% on all purchases from my main card. No hoops to jump through.
Apple Card is nowhere near that.
Funnily, at my favorite brewery they have those portable CC terminals yet they still require a physical CC to hold if you start a tab.
Well, coming to think of it, it’s possible that the restaurant can’t charge your card without you acknowledging the charge. I’ve no idea how the regulations work in this case.
You’re right. Some people seem to actually mean “Apple Cash” or “Apple Card” when they say “Apple Pay” and I guess I just fell into it without thinking.
Although over the years I did run into a few small businesses that had contactless payment terminals with a large sign “We don’t accept Apple Pay”. No idea how that even works.
Paying w/ my watch has become the norm, and it's a seamless experience for the most part. I know the payment is secure. I know that returns will work. No signatures are involved and a light tap on the wrist is all the confirmation I need. I haven't paid for groceries with a physical card in over a year, and most gas stations by me accept Apple Pay as well. Using Apple pay online has been fantastic for the vendors that accept it; I like how your order info and tracking are all easily accessible in the same place. Apple really knocked it out of the park with this project!
EMV Contactless and MSD Contactless. A lot of places with only MSD contactless (the terminals are going to be EOL'd anyways), Apple Pay would just decline.
EXCEPT Syncing the Apple Watch transactions and the Phone transactions. Amex is the only card other than Apple's own cards that syncs across devices. This is a big oversight of why I always use my phone and never my watch.
ah, card imprinters. Quite a few here have never known the "pleasure" of that. All those carbon copies. I'm 64 so while I recall having those used, back in those days I paid with cash for an awful lot of things so I didn't deal with it all that much. Now I never carry cash and life is so much simpler. I love how even the very smallest of vendors on some road side stop take plastic or even Apple Pay.In USA where places that accept card payments by magstripe card readers only will be forced to adopt EMV card readers with contactless feature because magstripe of bank cards will be removed by 2030.
Swiping left on magnetic stripes
With the rise of the chip card, this once-pioneering payment technology is being retired.
It is like when they said goodbye to card imprinters.
In London, the buskers and sellers of the Big Issue (a magazine sold by homeless people) accept Apple Pay. The only thing I dislike about it is that I used to give the odd tenner to people on the streets that are struggling and now I don't because I never carry any cash with me, ever.
Yet more undeserved praise for Tim Cook's mediocrity. Apple Pay is an inferior technology to mainland China's WeChat Pay, which was released over one year earlier than Apple Pay. (Apple Pay was released in October 2014, and WeChat Pay was released in August 2013.) Apple Pay initially required an NFC machine for the seller, but now the seller can also use just another Apple device. WeChat Pay requires the seller only to have a piece of paper with a QR code printed on it. No wonder practically every seller in mainland China—even poor people from the remote countryside who sell fruits out of old wooden pushcarts on the side of the road—accept WeChat Pay. But here in the U.S., there are still many brick-and-mortar stores that don't accept Apple Pay.
I'm fully aware of the WeChat app's shortcomings (such as lack of privacy). But I'm not talking about the entire WeChat app. I'm only talking about the WeChat Pay function, and saying that Apple Pay is a much inferior technology in comparison. Apple Pay's requirement for sellers to have expensive technological equipment prohibits it from becoming ubiquitous. A printed piece of paper with a QR code on it that costs only a couple of cents to print at a print shop is why WeChat Pay is practically accepted everywhere in mainland China, and precisely why mainland China was the first and practically only cashless society in the world. I'm not talking at all about politics here. I'm only talking about payment methods.
Tim Cook is mediocre, and that's why Apple Pay is not like WeChat Pay. Cook deserves no praise for Apple Pay. Although Apple Pay is better than using cash or phisical credit and debit cards, Apple Pay is not ubiquitous, and thus people in the U.S. still need to carry cash and physical credit and debit cards with them. In mainland China, it's commonplace for people to practically never need to use cash nor physical credit and debit cards. That's the case in mainland China practically everywhere from the most advanced and modern wealthy big cities like Shanghai to the most backwards and poor remote countryside areas. It shows how Cook is not a products person.
I'm fully aware of the WeChat app's shortcomings (such as lack of privacy). But I'm not talking about the entire WeChat app. I'm only talking about the WeChat Pay function, and saying that Apple Pay is a much inferior technology in comparison. Apple Pay's requirement for sellers to have expensive technological equipment prohibits it from becoming ubiquitous. A printed piece of paper with a QR code on it that costs only a couple of cents to print at a print shop is why WeChat Pay is practically accepted everywhere in mainland China, and precisely why mainland China was the first and practically only cashless society in the world. I'm not talking at all about politics here. I'm only talking about payment methods.
Tim Cook is mediocre, and that's why Apple Pay is not like WeChat Pay. Cook deserves no praise for Apple Pay. Although Apple Pay is better than using cash or phisical credit and debit cards, Apple Pay is not ubiquitous, and thus people in the U.S. still need to carry cash and physical credit and debit cards with them. In mainland China, it's commonplace for people to practically never need to use cash nor physical credit and debit cards. That's the case in mainland China practically everywhere from the most advanced and modern wealthy big cities like Shanghai to the most backwards and poor remote countryside areas. It shows how Cook is not a products person.
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Having the backing of (and strong encouragement for its use by) the Chinese government definitely helped WeChat Pay, too. Not to mention the extremely low fees charged to merchants and the relative lack of any other electronic payment options before its adoption.
Anyway, it's not like there weren't any QR options in the US back in 2014 (i.e. CurrentC). If QR was indeed the more appropriate technology for the US market, we'd all be scanning QR codes for payment right now instead of tapping phones.
Weird, Costcos around here all have contactless payments at the gas station. As of recently, they even allow scanning app on the phone instead of a physical card.
Too bad they are also turning to ****…
I don’t understand. Do you mean Apple Card?
How are returns or tracking enhanced by paying with Apple Pay if, say, the credit card stored for my Apple Pay is a bog standard Chase card?
How does the payment system enhance the seller’s logistics (tracking)?
If I return an item it’s up to the seller to return the payment, or the card bank to credit the amount - how does Apple (the NFC chip provider) improve returns?
I am curious because I wonder if I am missing out on features, or if these are Apple Card benefits.
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There's a lot of wrong in these 3 paragraphs.
First, I don't see how scanning a QR code on a phone can be considered quicker and more convenient than simply bringing up Apple Pay on my iPhone or even Apple Watch. I use both. Prior to lock screen widgets, I had to unlock my phone and launch an app, then still position my phone camera to capture the QR code. Some shops even require you to key in the amount of transfer over yourself, increasing the chance of accidentally transferring the wrong amount.
Conversely, whenever I take public transport, paying for my bus ride is as easy to double-pressing the home button on my Apple Watch. I am not able to scan a QR code with my watch, nor does public transport offer such an option anyways.
Second, the chief reason why mobile payments took off in China is because the country largely skipped the credit card revolution. So from the perspective of the Chinese people, it's far easier to make the leap from physical cash to scanning a QR code on your phone, than it is to go from using a credit card to scanning a QR code because really, the latter is far inferior in terms of utility. It's less convenient, credit cards are actually better in terms of rewards, fraud protection and boosting sales (because people can buy on credit first).
Like I said, I use both on a regular basis, I see the benefit of QR codes in places which don't support credit cards (like coffee shops), and given the choice, I would still opt for credit cards / Apple Pay every time. I have Grabpay and Paylah in my country, and it sucks. It's really only better as an alternative to handling hard cash. That's really the only praise I can give for QR-code based payments.
Third, I guess it's easy to take off when you have the entire might of the Chinese government behind you (and for good reason, WeChat is how the government keeps tabs on its people and tracks their every move). This has nothing to be with being a product person (or not), and more about what can be done when you have virtually zero competition in the space.
How can a QR code be better? All it is is the sellers account details and you make a bank transfer via WePay. Problems with that: you need to key in the amount to pay; you make a direct payment to the seller; there is no link between the purchased good and the payment; it’s slow; it does not work with a watch.
There are instances where a QR code is a good cheap solution (small shops, personal transfers), but not for prime time.
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Easily changed if it is important to you. A couple of tenners in your pocket is simply done. No need for a wallet.
That’s the point. It’s not “important”, it was just the odd gesture. Like it’s not important enough to specifically go out of my way to visit the bakery to wish the baker a merry Christmas, but it’s nice to do when I buy bread in December.
And I am sure I am not the only one.