That's just the charges... You also need to pay your accountant to submit the charges, reconcile with the bank's statements... And, if you have a merchant account, you must maintain a minimum balance (Last time I did it, the minimum balance was $25,000 for a small business).
Dare's a whole lotta' chargin' goin' on out dare!
Dick, SFBay East Bay is only one of the high foreclosure areas. Go 50-70 miles east along I-580 and you'll find the worst foreclosure area in California; Stanislaus County.
Back to the subject. TheOtherGeoff had some good additional information as well, like buying a bank and issuing its own credit/debit cards that would work with Apple's mobile payment system. Of course, that means they'd have to worry about late payments and other things but maybe Wall Street would actually like that and be nice to them for once. Of course, the banking establishment wouldn't want to see the Apple Bank undercut their rates so they'd fight to keep them out of their club. Apple wants to charge 30% for a lot of things but wouldn't be able to do that with their bank or payment system. If Apple set up a bank, it wouldn't take my very long to to drop the rest of the credit cards I don't use and get out of Wells Fargo as well. Of course, Apple Bank would have to keep their monthly service costs to an absolute minimum or not charge at all.
I think this would be at least a good option for Apple. It may have to be the only option, but how many people here already have paypal accounts and use them. I know I do. Sure, I don't use it everyday, or even every week but its still a decent service for what it does.
Apple could still create its own service and let the customer choose what they want to use for payment options.
Paypal is slime there is no advantage to having Paypal around if would be like having Google in the board room or Samsung in the supply chain.
I'm not sure this will be viewed innovative for Apple anyways. They may get the ball rolling with this, but I'm not so sure it will be the largest thing coming from Apple this year. A major hardware announcement with something thats "insanely great" is something Apple will known for as innovative.
They already partner with PayPal for their app stores anyways, so its not like this will be something new for them.
Maybe but that's because people expect them to cute cancer. If it changes the way we pay forever, it's worth being mentioned as highly innovative. Imagine a few years from now, making all your payments with your phone or iwatch...
Apple has never been the first to do anything, they have just been the ones to perfect it
Apple is the first to make something practical and profitable in the real world, anyone (Google, Microsoft, Samsung) can announce moonshot's or Vaporware that don't work.
That and $2.95 will buy you a medium coffee at starbucks.
Market Cap means very little...
I think if Paypal were to partner... Apple's reach out is that the paypal account becomes a card in the wallet.
But I strongly believe Apple would rather partner directly with big banks and EMVCO and become a card payment processor directly.
Reason: Apple already has 1/2Billion CCs in their ITMS store... driving that to a Billion or more by partnerships, and then providing a tokenized payment service (Apple provides one time transaction IDs throughout the process for exactly the amount payable only to the 'seller' and exactly for the timestamp on the purchase).
I see Apple going it alone. Again Apple wants to supplant PayPal, and fight the mobile payment battle with the real competition.... Amazon/Kindle.
Amazon competition? In what more Moonshot's, Amazon like Google fiddle at a lost with no profit in hardware, Wall Street however is easily impressed. Apple doesn't need PayPal especially from a security standpoint, there is nothing Apple needs from them.
If Paypal (a tech backwater) is knocking isn't it to late the Bull is already out of the barn and down the road.
Concerning any deals between Paypal and Apple... that will all depend on what Cook is planning to implement and how well it is implemented.
Concerning the rest of the payment transaction landscape... well, with Ebay pulling Paypal's strings, you're probably right. Paypal on its own might stand a better chance at becoming something more.
Google has to pass Exxon as well in order to become the world's most valuable company. Even with its current 3% up day, GOOG is at $381B.
Exxon is at $413B, AAPL at $452B.
I don't see GOOG reaching AAPL's level today or tomorrow, and I don't see AAPL dropping very much from these punished levels either.
Thompsonm
As far as Wall Street is concerned, Google has already passed Apple in market cap. Apple is seen as a washed up company under Tim Cook's leadership (or lack thereof). Wall Street's trend is to push Apple into irrelevance now that Steve Jobs is long dead. There hasn't been one thing that Tim Cook has been able to do to increase ownership or boost shareholder value. Everything Apple does only pushes the stock down that much further. Google is practically destined to pass Apple this year with target prices as high as $1500 a share. Apple's target prices will only get revised down further to below $500. Apple has become a real stinker of an investment no matter what Tim Cook tries to do. Don't you see that at all? In 2012, Apple was being claimed to be the first trillion dollar market cap stock.
Wall Street is now betting on Google to be the first trillion dollar market cap company because Apple messed up so badly in the smartphone market due to Android overwhelming them completely. Everyone believes Android is the most dominant force in tech and Google can do everything. Meanwhile Apple is looked upon as a tech company failure merely biding its time to collapse in a heap. Wall Street hates Tim Cook and Apple because the company can't get anything right. They won't use their reserve cash and they deliberately throw away market share to everyone and never directly compete with anyone. A company can't give everything away to rivals and expect to survive. I'd say it's likely Apple will burn all of its shareholders, go private and keep any excess cash for itself. For almost a year and a half Apple stock has become completely toxic and Apple's management couldn't care less. That's not a company any sane person would put money into.
No HELL way! Fook PayPal! PayPal fucking my account up! I knew that PayPal sure did fucked people account up (freeze money that they owe people). So NO WAY don't let Apple partner with this shitty PayPal!!!
If they can figure out a way to be the middleman and not be a bank, great... But I work for a bank, and between anti money laundering rules, and know your customer rules, apple would need to have people dedicated to this. They would be one of the biggest banks so I'm talking thousands of individuals... Yeah banks make money, but if one of your employees forgets to put a suspicious activity referral for a guy he wasn't sure about, it's a 10 billion lawsuit....
you don't have to be the bank... but buying the bank to do this for them. I worked for an e-bank as well, and with FIS on the backend, there wasn't much 'banking' that had to be done.
Actually they would likely be smaller than most banks... Because they would have 8 or 10 of them... (US, plus wherever their money is harbored). If they stayed in the space of being a card issuer (unsecured revolving credit), Debit card, and secured small finance (<$10,000 purchases), they'd probably have fairly low liability (no real estate issues, no car loans etc). just a micro bank.
That's just the charges... You also need to pay your accountant to submit the charges, reconcile with the bank's statements... And, if you have a merchant account, you must maintain a minimum balance (Last time I did it, the minimum balance was $25,000 for a small business).
Dare's a whole lotta' chargin' goin' on out dare!
yep. Some would say getting a decent internet and an ipad is a pretty cheap entry fee, and then have Apple charge 3-4% straight across. With the risk lowered by TouchID into Wallet and BT4 (basically a better version of wireless CHIP&PIN), 3ish% is a decent cost of doing business.
Because Apple would be doing this as a 'break even' business ;-)
As far as Wall Street is concerned, Google has already passed Apple in market cap. Apple is seen as a washed up company under Tim Cook's leadership (or lack thereof). Wall Street's trend is to push Apple into irrelevance now that Steve Jobs is long dead. There hasn't been one thing that Tim Cook has been able to do to increase ownership or boost shareholder value. Everything Apple does only pushes the stock down that much further. Google is practically destined to pass Apple this year with target prices as high as $1500 a share. Apple's target prices will only get revised down further to below $500. Apple has become a real stinker of an investment no matter what Tim Cook tries to do. Don't you see that at all? In 2012, Apple was being claimed to be the first trillion dollar market cap stock.
Wall Street is now betting on Google to be the first trillion dollar market cap company because Apple messed up so badly in the smartphone market due to Android overwhelming them completely. Everyone believes Android is the most dominant force in tech and Google can do everything. Meanwhile Apple is looked upon as a tech company failure merely biding its time to collapse in a heap. Wall Street hates Tim Cook and Apple because the company can't get anything right. They won't use their reserve cash and they deliberately throw away market share to everyone and never directly compete with anyone. A company can't give everything away to rivals and expect to survive. I'd say it's likely Apple will burn all of its shareholders, go private and keep any excess cash for itself. For almost a year and a half Apple stock has become completely toxic and Apple's management couldn't care less. That's not a company any sane person would put money into.
How does any of this refute my simple assertion that GOOG is unlikely to become the world's most valuable company today or tomorrow, which is the topic of the post I was responding to?
I think that you are reading something between my lines that I didn't intend, probably because of the passion you possess. (Not that passion is a bad thing.)
Wall Street is now betting on Google to be the first trillion dollar market cap company because Apple messed up so badly in the smartphone market due to Android overwhelming them completely. Everyone believes Android is the most dominant force in tech and Google can do everything. Meanwhile Apple is looked upon as a tech company failure merely biding its time to collapse in a heap. Wall Street hates Tim Cook and Apple because the company can't get anything right. They won't use their reserve cash and they deliberately throw away market share to everyone and never directly compete with anyone. A company can't give everything away to rivals and expect to survive. I'd say it's likely Apple will burn all of its shareholders, go private and keep any excess cash for itself. For almost a year and a half Apple stock has become completely toxic and Apple's management couldn't care less. That's not a company any sane person would put money into.
'sane' is relative to the person measuring it.
At some point you have to realize that Apple is the less evil company (not 'not evil' just 'less'), and that's the real discount factor. Wall Street is evil, Google is evil, therefore they see 'sane' where apple is 'quite mad'
What possibly Apple would gain partnering with MOST hatred service provider in the world?!!!
On the same note, Paypal should shut everything down and get the hell out of Internet once and for all ... NOW it's their best time.
What are you smoking? PayPal is great. I use it almost exclusively over CC payment. Also some people don't have a CC and PayPal allows them to shop online and pay through their bank account. It's awesome. I complain to websites that don't offer PayPal. It's not hated and it's not going anywhere. Why wouldn't apple want to provide a service where customers can pay online directly from their bank account if they don't have a CC? Sounds like good customer service.
Comments
There are more charges/fees to the seller than just those fees you mention:
http://www.creditcards.com/credit-card-news/credit-card-fees-for-merchant-accounts-1275.php
That's just the charges... You also need to pay your accountant to submit the charges, reconcile with the bank's statements... And, if you have a merchant account, you must maintain a minimum balance (Last time I did it, the minimum balance was $25,000 for a small business).
Dare's a whole lotta' chargin' goin' on out dare!
Dick, SFBay East Bay is only one of the high foreclosure areas. Go 50-70 miles east along I-580 and you'll find the worst foreclosure area in California; Stanislaus County.
Back to the subject. TheOtherGeoff had some good additional information as well, like buying a bank and issuing its own credit/debit cards that would work with Apple's mobile payment system. Of course, that means they'd have to worry about late payments and other things but maybe Wall Street would actually like that and be nice to them for once. Of course, the banking establishment wouldn't want to see the Apple Bank undercut their rates so they'd fight to keep them out of their club. Apple wants to charge 30% for a lot of things but wouldn't be able to do that with their bank or payment system. If Apple set up a bank, it wouldn't take my very long to to drop the rest of the credit cards I don't use and get out of Wells Fargo as well. Of course, Apple Bank would have to keep their monthly service costs to an absolute minimum or not charge at all.
I think this would be at least a good option for Apple. It may have to be the only option, but how many people here already have paypal accounts and use them. I know I do. Sure, I don't use it everyday, or even every week but its still a decent service for what it does.
Apple could still create its own service and let the customer choose what they want to use for payment options.
Paypal is slime there is no advantage to having Paypal around if would be like having Google in the board room or Samsung in the supply chain.
Hey. Wasn’t eBay going to sell PayPal, or was that someone’s wish?
Forget partnering. Apple has a history of partners STEALING THEIR INTELLECTUAL PROPERTY. Either buy PayPal or go it alone.
Any waste billions like Google, whatever Apple is working on has been in progress for years, they don't need them.
I'm not sure this will be viewed innovative for Apple anyways. They may get the ball rolling with this, but I'm not so sure it will be the largest thing coming from Apple this year. A major hardware announcement with something thats "insanely great" is something Apple will known for as innovative.
They already partner with PayPal for their app stores anyways, so its not like this will be something new for them.
It's a piece of the larger puzzle.
Maybe but that's because people expect them to cute cancer. If it changes the way we pay forever, it's worth being mentioned as highly innovative. Imagine a few years from now, making all your payments with your phone or iwatch...
Apple has never been the first to do anything, they have just been the ones to perfect it
Apple is the first to make something practical and profitable in the real world, anyone (Google, Microsoft, Samsung) can announce moonshot's or Vaporware that don't work.
Of the Target victims, how many of them have accounts with Apple that are linked to the hacked CCs?
Thanks for the reminder, went and updated my CC info
Wth...I'm pretty sure apple doesn't want to become a bank....
No. But given Apple's history, maybe they could redefine what a bank is.
Or, you know, just not use the system if it happens to use PayPal.
That and $2.95 will buy you a medium coffee at starbucks.
Market Cap means very little...
I think if Paypal were to partner... Apple's reach out is that the paypal account becomes a card in the wallet.
But I strongly believe Apple would rather partner directly with big banks and EMVCO and become a card payment processor directly.
Reason: Apple already has 1/2Billion CCs in their ITMS store... driving that to a Billion or more by partnerships, and then providing a tokenized payment service (Apple provides one time transaction IDs throughout the process for exactly the amount payable only to the 'seller' and exactly for the timestamp on the purchase).
I see Apple going it alone. Again Apple wants to supplant PayPal, and fight the mobile payment battle with the real competition.... Amazon/Kindle.
Amazon competition? In what more Moonshot's, Amazon like Google fiddle at a lost with no profit in hardware, Wall Street however is easily impressed. Apple doesn't need PayPal especially from a security standpoint, there is nothing Apple needs from them.
Carl is hedging his bets. Buys into Apple. Buys into Ebay. Begs Ebay to sell Paypal. Paypal comes knocking on Apple's door.
[Hmmmm... now that I look at that again... maybe it's Ebay's way of fighting off Icahn. Get Apple involved.]
If Paypal (a tech backwater) is knocking isn't it to late the Bull is already out of the barn and down the road.
If Paypal (a tech backwater) is knocking isn't it to late the Bull is already out of the barn and down the road.
Concerning any deals between Paypal and Apple... that will all depend on what Cook is planning to implement and how well it is implemented.
Concerning the rest of the payment transaction landscape... well, with Ebay pulling Paypal's strings, you're probably right. Paypal on its own might stand a better chance at becoming something more.
If Apple were going to do this already we wouldn't be getting leaks, by PayPal, to the media mentioning it.
Apple doesn't need PayPal and I'd prefer they stay clear of them.
Google has to pass Exxon as well in order to become the world's most valuable company. Even with its current 3% up day, GOOG is at $381B.
Exxon is at $413B, AAPL at $452B.
I don't see GOOG reaching AAPL's level today or tomorrow, and I don't see AAPL dropping very much from these punished levels either.
Thompsonm
As far as Wall Street is concerned, Google has already passed Apple in market cap. Apple is seen as a washed up company under Tim Cook's leadership (or lack thereof). Wall Street's trend is to push Apple into irrelevance now that Steve Jobs is long dead. There hasn't been one thing that Tim Cook has been able to do to increase ownership or boost shareholder value. Everything Apple does only pushes the stock down that much further. Google is practically destined to pass Apple this year with target prices as high as $1500 a share. Apple's target prices will only get revised down further to below $500. Apple has become a real stinker of an investment no matter what Tim Cook tries to do. Don't you see that at all? In 2012, Apple was being claimed to be the first trillion dollar market cap stock.
Wall Street is now betting on Google to be the first trillion dollar market cap company because Apple messed up so badly in the smartphone market due to Android overwhelming them completely. Everyone believes Android is the most dominant force in tech and Google can do everything. Meanwhile Apple is looked upon as a tech company failure merely biding its time to collapse in a heap. Wall Street hates Tim Cook and Apple because the company can't get anything right. They won't use their reserve cash and they deliberately throw away market share to everyone and never directly compete with anyone. A company can't give everything away to rivals and expect to survive. I'd say it's likely Apple will burn all of its shareholders, go private and keep any excess cash for itself. For almost a year and a half Apple stock has become completely toxic and Apple's management couldn't care less. That's not a company any sane person would put money into.
If they can figure out a way to be the middleman and not be a bank, great... But I work for a bank, and between anti money laundering rules, and know your customer rules, apple would need to have people dedicated to this. They would be one of the biggest banks so I'm talking thousands of individuals... Yeah banks make money, but if one of your employees forgets to put a suspicious activity referral for a guy he wasn't sure about, it's a 10 billion lawsuit....
you don't have to be the bank... but buying the bank to do this for them. I worked for an e-bank as well, and with FIS on the backend, there wasn't much 'banking' that had to be done.
Actually they would likely be smaller than most banks... Because they would have 8 or 10 of them... (US, plus wherever their money is harbored). If they stayed in the space of being a card issuer (unsecured revolving credit), Debit card, and secured small finance (<$10,000 purchases), they'd probably have fairly low liability (no real estate issues, no car loans etc). just a micro bank.
There are more charges/fees to the seller than just those fees you mention:
http://www.creditcards.com/credit-card-news/credit-card-fees-for-merchant-accounts-1275.php
That's just the charges... You also need to pay your accountant to submit the charges, reconcile with the bank's statements... And, if you have a merchant account, you must maintain a minimum balance (Last time I did it, the minimum balance was $25,000 for a small business).
Dare's a whole lotta' chargin' goin' on out dare!
yep. Some would say getting a decent internet and an ipad is a pretty cheap entry fee, and then have Apple charge 3-4% straight across. With the risk lowered by TouchID into Wallet and BT4 (basically a better version of wireless CHIP&PIN), 3ish% is a decent cost of doing business.
Because Apple would be doing this as a 'break even' business ;-)
As far as Wall Street is concerned, Google has already passed Apple in market cap. Apple is seen as a washed up company under Tim Cook's leadership (or lack thereof). Wall Street's trend is to push Apple into irrelevance now that Steve Jobs is long dead. There hasn't been one thing that Tim Cook has been able to do to increase ownership or boost shareholder value. Everything Apple does only pushes the stock down that much further. Google is practically destined to pass Apple this year with target prices as high as $1500 a share. Apple's target prices will only get revised down further to below $500. Apple has become a real stinker of an investment no matter what Tim Cook tries to do. Don't you see that at all? In 2012, Apple was being claimed to be the first trillion dollar market cap stock.
Wall Street is now betting on Google to be the first trillion dollar market cap company because Apple messed up so badly in the smartphone market due to Android overwhelming them completely. Everyone believes Android is the most dominant force in tech and Google can do everything. Meanwhile Apple is looked upon as a tech company failure merely biding its time to collapse in a heap. Wall Street hates Tim Cook and Apple because the company can't get anything right. They won't use their reserve cash and they deliberately throw away market share to everyone and never directly compete with anyone. A company can't give everything away to rivals and expect to survive. I'd say it's likely Apple will burn all of its shareholders, go private and keep any excess cash for itself. For almost a year and a half Apple stock has become completely toxic and Apple's management couldn't care less. That's not a company any sane person would put money into.
How does any of this refute my simple assertion that GOOG is unlikely to become the world's most valuable company today or tomorrow, which is the topic of the post I was responding to?
I think that you are reading something between my lines that I didn't intend, probably because of the passion you possess. (Not that passion is a bad thing.)
Thompson
[...]
Wall Street is now betting on Google to be the first trillion dollar market cap company because Apple messed up so badly in the smartphone market due to Android overwhelming them completely. Everyone believes Android is the most dominant force in tech and Google can do everything. Meanwhile Apple is looked upon as a tech company failure merely biding its time to collapse in a heap. Wall Street hates Tim Cook and Apple because the company can't get anything right. They won't use their reserve cash and they deliberately throw away market share to everyone and never directly compete with anyone. A company can't give everything away to rivals and expect to survive. I'd say it's likely Apple will burn all of its shareholders, go private and keep any excess cash for itself. For almost a year and a half Apple stock has become completely toxic and Apple's management couldn't care less. That's not a company any sane person would put money into.
'sane' is relative to the person measuring it.
At some point you have to realize that Apple is the less evil company (not 'not evil' just 'less'), and that's the real discount factor. Wall Street is evil, Google is evil, therefore they see 'sane' where apple is 'quite mad'
Wrong on both counts.
Exactly. That’s why PayPal will be a distant memory by 2020.