Apple Celebrates 10-Year Anniversary of Apple Pay With Open Letter and Interview

[Tech_Fan]

 Pay is a feature I use almost EVERY day. In fact, when I’m at a register preparing to pay, I immediately ask the cashier if they support Pay.

 

[seek3r]

Yes, but at least Wal-Mart does provide a way to pay with your phone using any credit card through their app, albeit with the data collection caveats. Home Depot on the other hand provides no way to do any kind of mobile payment. Every time I go to the register there I have a ‘Doh!’ moment and have to run out to my car to grab a card.

Supposedly, Home Depot has enabled Apple Pay at a few locations in the past couple of weeks but a message their support folks posted on Reddit said that at this point they are just ‘exploring’ different payment options and there is no word on whether they’ll actually roll out Apple Pay company-wide.

The Home Depot near me takes Apple Pay now FWIW, as does the one by my parents. Those are in 2 different states a few hundred miles apart, seems like it’s rolling out

 

[echopulse]

Have you guys seen this?

27 Contactless Payments Statistics for 2024

Contactless payments are essential today. Here are the latest contactless payment statistics so you can utilize them for your business.

fitsmallbusiness.com

Key takaways:

13. 55.8 million Americans used Apple Pay in 2023​

19. One in three in-person transactions in the US use tap-to-pay, up 10% YoY​

21. American consumers prefer bank-provided digital wallets​

Really? You want several different digital wallet apps on your phone? I don't buy this one.

22. 41% of consumers would not shop at a store that didn’t offer contactless payments​

24. 78% of Americans say they expect to be able to use their mobile wallet anywhere they want​

The future is bright.

 

[SnowCrocodile]

As my statistics professor used to say, “there are lies, damn lies, and statistics”.

#22 - if you dig at the source, the survey was conducted by Visa Small Business (that is not an impartial entity) and based on 2,500 respondents in Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore, UAE and US.

As fat as I know, the vast majority of businesses in HK, Ireland, Russia, Singapore and UAE already use contactless payments. So more than half of the respondents are describing the market they already live in. Sure, if 99 similar stores out of 100 use contactless payments and one doesn’t, you’re likely to avoid it.

Actually, the survey seems to show the opposite of what it claims - even though more than half of the countries listed already have contactless payments everywhere, 59% of 2,500 consumers are willing to shop at the businesses that don’t offer them if they’re saving money or find it otherwise attractive.

Statistics are a lot more fun than most people realize…

 

[MacBH928]

Fix what ? You can use any bank c/c with Apple Pay. There’s no lock in. It’s just Apple’s marketing term for their NFC payment implementation.

The real advantage of AP is its integration with their devices, keychain, FaceID etc.

As to the EU - they are always ready to “fix” something that was developed outside of EU, but are rather shy to go after non-competitive practices of European giants like Siemens. So the extent of them “fixing” things is not as great as you may think - they don’t want to get the US and China into fixing mood.

exactly this 👇

The European has already mandated Apple to allow third party default Wallets. As they should.

tbf, I think its not a monopoly if any one can enter the market and compete (and if no one does then thats up to the "free market") , none the less I still see this move in the advantage of the consumer and maybe disadvantage of Apple.

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Actually, no, not all banks allow their cards to be added to Apple Wallet, the bank has to have an agreement with Apple. But most of them do, in the US.

interesting, I thought if your card is connected to MasterCard/Visa you are good to go. neat profile picture btw, I like the style

 

[MacBH928]

You may wish to elaborate on what you mean by “real innovation” then.

Software layer, biometrics, Secure Enclave, even hammering out deals with banks and other stakeholders is its own innovation in a sense, even if it doesn’t necessarily entail technology or hardware specs.

Heck, the reason why Apple is able to leverage their software / hardware ecosystem is because they were willing to invest in having an integrated ecosystem in the first place.

The EU would rather consumers suffer a worse user experience in the name of “fairness”.

I just do not see whats innovative from Apple for the money transfer part. Where I live we have bank cards that you can tap on cashiers and it would transfer. Now its in the phone. I do not see why other services couldn't build an app , store your card in that app, and do this process.

I already have 1 click amazon buy and paypal and similar.

 

[seek3r]

I just do not see whats innovative from Apple for the money transfer part. Where I live we have bank cards that you can tap on cashiers and it would transfer. Now its in the phone. I do not see why other services couldn't build an app , store your card in that app, and do this process.

I already have 1 click amazon buy and paypal and similar.

The situation for money transfer on Apple’s home turf here in the US is the motivation - it sucks

 

[echopulse]

exactly this 👇


tbf, I think its not a monopoly if any one can enter the market and compete (and if no one does then thats up to the "free market") , none the less I still see this move in the advantage of the consumer and maybe disadvantage of Apple.

=================



interesting, I thought if your card is connected to MasterCard/Visa you are good to go. neat profile picture btw, I like the style

There are 11000 financial institutions in the US, and only 5100 of them support Apple Pay.

 

[garyjones027]

There are 11000 financial institutions in the US, and only 5100 of them support Apple Pay.

I wonder if any of these 11000 financial institutions in the USA ended because of financial difficulties to upgrade to new technology as the USA bank system is fragmented.

 

[MacBH928]

There are 11000 financial institutions in the US, and only 5100 of them support Apple Pay.

why not just make the mastercard or visa IS the NFC payment, and now its acceptable everywhere Credit Cards are accetpted