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Posts by Dick Applebaum

I admit to the inaccuracies -- I am not involved in commerce any more, and have no current knowledge of the industry -- however, I do understand risk, its costs and motivation -- and as you suggest, I tried to highlight the importance of security and privacy and their relative advantage by an arbitrary number value.I also agree with your other points -- the time is now!
Yes there is a protocol for adding money to an iTunes account (admittedly not to a cc) -- by redeeming an iTunes Gift Card.As Apple presented in the announcement, A [qualified] iTunes cc (currently AMEX, MC, Visa -- likely, soon Discover) can automatically be registered as an Pay credit card.I don't know if you've ever had a merchant account with a bank -- it's similar to a big credit card (or used to be) for the merchant. All the cc transactions the merchant accepts...
Ha!In the last few days, we've seen in AI threads: Bo Dereck, Lil Abner Women, Sears catalog womens undergarment pages ...Continuing that trend:Here, beside his friend, is my OSH'By-Gosh Beaver ...I use it in bed to prop up my iPad 4 at just the right angle (he has a stiff tail) -- while lying on my side in bed, head on a pillow ... Works great.
But Apple would not need to become a bank -- just pass through Pay transactions to the bank ... instead of issuing iTunes cc transaction to the bank as it does now (for which it is charged a fee -- same as other merchants).
In addition, Pay offers security that is superior to card-present -- because it validates (not identifies) the buyer.That should result in lower risk/costs/fees to the bank, the cc processor, the merchant and, ultimately the customer.A bank or a merchant will have access to several methods of processing cc transactions at different risks/fees. Hypothetically (using whole numbers for comparison and combining risk costs with fees), say:00% risk 1% costs  --  Pay05% ...
I was in Lima for 2 weeks on business (teaching a class for IBM). I stayed at the Crillon (then a top hotel) -- they did not take AMEX ...There've been a few changes of government in Peru since then -- so it could have changedIn 1977 I spent a couple of weeks in Paris, then Sindelfingen -- with a weekend outside of Geneva ...AMEX acceptance was really hit or miss -- Not accepted at where I stayed:   L'Auberge;   or where I played: The Casino de Divonnes les Bains.
Here's the thing!Some big retailers have already signed up!Some big banks have already signed up!Apple customers have money to spend!November 28th is the start of Black Friday Maddness -- the biggest shopping period in the US!By Black Friday, the iPhone 6 will have been on sale in the US for 11 weeks!I suspect that between 20-30 Million (2+ million per week) US customers will have access to Pay through iPhone 6 by Black Friday.For a given retailer to get on board, within...
Admittedly, it's been a while -- but the last time I traveled to Europe, AMEX was a poor choice ... Many places had little signs saying "AMEX Not Accepted".I lived in Saratoga, CA (south of Cupertino) and we banked at Barclays. Whenever I planned a trip abroad they would provide currency for each country (at exchange rates -- no extra charge) and offered many of the services you mentioned.We also used Barclays bank for the merchant account at our Computer stores --...
For online Pay payments -- I suspect a coming enhancement will be the ability for Apple Pay on the iPhone to securely Hand Off the Pay pseudo-cc# and one-time security code to a Safari browser running on Yosemite. For other browsers or platforms, the iPhone could just display the Pay pseudo-cc# and one-time security code on the iPhone for the user to key in -- less convenient, but more secure!
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