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Posts by Soundvision

You're credit card does not contain your address and is not transmitted during a sale. There are laws surrounding what you can and can't keep in regards to credit card info. I think it's much more likely that Wal-Mart isn't taking Apple Pay because it would require an overhaul of their equipment and Wal-Mart probably already has a game plan in place for these types of payments later down the road.
That's not true. If a retailer doesn't take Amex, then it doesn't matter if they swipe the card or use Apple Pay, it won't work. Places that don't take Amex generally don't even have the ability to process Amex cards because they never signed up to do so. Why Wal-Mart and Best Buy aren't going to adopt it is anyone's guess. I don't believe Wal-Mart's registers have NFC, so it would be a large undertaking for them to add it and Wal-Mart is a very frugal company. I hear Best...
You'll see a lot of companies start to accept it between now and next year when chip and pin comes around, because hardware will need to be replaced anyways. Wal-Mart is the world's largest retailer, it takes them time to integrate something. I'm sure they will eventually do it, but they'll want to see how it does in the wild first before they commit.
It says Apple will be the first to utilize tokenization, do we know what's different between Apple Pay and Google Wallet in relation to tokenization? If Google doesn't use it, what do they use?
Many of these questions are easy to answer IMHO. Apple Pay is just another way to pay, like with credit card, check, cash, etc. It doesn't replace a whole POS system or anything like that and Apple Pay doesn't change the way a consumer shops besides having an alternative to physically swiping their credit card. Apple Pay does not replace the need to stand in line unless the business creates a mobile in store shopping experience (like what Apple does in their retail...
I really want this watch and while I will probably get it, I'm really going to have to retrain myself on how I interact with my watch. Currently I have a kinetic Seiko and it never comes off. I wear it in the shower, I wear it in the ocean, sleeping, at the lake, out on the town, etc. It literally never comes off, it never needs to be charged, it just works. It's going to be next to impossible for smart watches to replace that simplicity, but you are also gaining a lot...
I guess my predictions were only partially correct. While Apple is getting paid on those transactions, I am guessing Apple is getting a swipe fee versus a percentage of the overall sale, but no way to know for sure.   What I'm curious if Apple comes out with next is a way for small businesses to take advantage of this, much like Square and others have done. My guess is they will hold off for the time being because if Apple did give this to a small retailer, not 100% of...
This new news really has me puzzled. It's easy to see where Apple makes their money, they will take that rate that is given to them by Visa, MC, Amex and will mark it up slightly and that will be their profit. They will make a tiny amount on every transaction, making them tons of money. This is how credit card processors and credit card processing "hustlers" make their money. Now what confuses me is why Bank of America and these other companies are coming into the...
 I highly doubt Apple would cover credit card fees, it would make no sense and would make this this whole idea a cash suck, something Apple rarely does. I've spent the past two years selling point of sale and very familiar with credit card companies, so I'll explain what I think will happen.Apple is cutting out all the middlemen processors and working directly with the credit card companies. Those companies will give Apple a specific rate and Apple will mark it up a tad...
Definitely not plausible. No credit card fees? How will CC companies make money? Even with Square you pay 2.75%.I think part of your theory will work, but there will most definitely be fees.
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