Not over-hyped in Japan. They've had contactless payments on their cellphones since 2005. That's right, almost *TEN* years ago. The USA is way behind on this tech.
If it's so great, why hasn't it been adopted around the world? How successful is the adoption of NFC in Japan?
I have to say, I think the idea that Amex has lower acceptance rates, at least in the US, is a little overblown. I use an Amex BCE for almost every purchase I make (cash back on all spending is pretty great), and in two years of doing so I've had exactly one establishment tell me they didn't take it.
I don't think it's overblown, but I can't give you a credible cite. I recall seeing numbers such as less than ten million terminals for Amex, versus many tens of millions for Visa and MasterCard.
I've been turned down many more times than 'once,' and while I prefer to pay with Amex, I always carry at least one extra credit card.
I've just not heard a lot of about them, but that's perhaps just me.
The larger point is, if it's already widely adopted, there's no problem in Apple jumping into it. If it's not, there's an opportunity for Apple, given the quantity and quality of its iOS clientele worldwide, to popularize it. A win either way.
Not over-hyped in Japan. They've had contactless payments on their cellphones since 2005. That's right, almost *TEN* years ago. The USA is way behind on this tech.
People who don't understand this don't really know anything about consumer payment tech.
We get a lot of clueless comments in US-based tech forums. Appalling.
The subject is in regard to NFC and whether it's included in the iPhone 6 and if it's used in regard to the agreements with the credit card companies.
The appalling part of this is that you didn't elaborate on the use of the wireless payments. Were you able to walk into a merchant ten years ago and pay for merchandise? All I could find on the web was paying for parking and other simple applications. I can do that in Minneapolis or St. Paul right now as well. Please expound on other apps from ten years ago that could be paid directly from a major credit card or bank account. I'm interested to know.
This technology was installed at Whole Foods Market in Plymouth Meeting at my last visit. I was not planning to upgrade my 5S, but Apple is starting to make it look like a viable option.
So you are out on a date. or better yet you are hosting a really important business diner with an important client and your phone battery died, and the bill shows up at the table and you do not have your plastic card, how do you pay your bill, I guess you going to be taking a trip to the dish washing station.
I think that will go over well with whom ever you are trying to impress at the time.
So you are out on a date. or better yet you are hosting a really important business diner with an important client and your phone battery died, and the bill shows up at the table and you do not have your plastic card, how do you pay your bill, I guess you going to be taking a trip to the dish washing station.
I think that will go over well with whom ever you are trying to impress at the time.
So you are out on a date. or better yet you are hosting a really important business diner with an important client and your phone battery died, and the bill shows up at the table and you do not have your plastic card, how do you pay your bill, I guess you going to be taking a trip to the dish washing station.
I think that will go over well with whom ever you are trying to impress at the time.
It's a pretty unlikely scenario. The iPhone warns you when you hit 10% and 5% battery life. If someone is taking it past 5%, they are risking being without a means of emergency communication too. The bigger concern IMO is that the restaurant wouldn't be able to take the payment, that's why people carry multiple cards but partnering with the big companies should help ensure compliance.
So you are out on a date. or better yet you are hosting a really important business diner with an important client and your phone battery died, and the bill shows up at the table and you do not have your plastic card, how do you pay your bill, I guess you going to be taking a trip to the dish washing station.
I think that will go over well with whom ever you are trying to impress at the time.
And what happens if you happen to lose your wallet? At least with a dead iPhone you can pop it on a charger for 10 minutes to get it to power on make a payment.
It's a pretty unlikely scenario. The iPhone warns you when you hit 10% and 5% battery life. If someone is taking it past 5%, they are risking being without a means of emergency communication too. The bigger concern IMO is that the restaurant wouldn't be able to take the payment, that's why people carry multiple cards but partnering with the big companies should help ensure compliance.
First you do not know how payment processing is handles, most payment processing is done by a central company which just verifies the card is a valid card. They do not always go directly back to the company that issued the card. So if the payment processing company is down or the connection to processing company is offline they retails just manually processor your card, you know the old run the card through the roller machine with the carbon paper. Retailer do not like to do this since they pay a higher fee for manually process transactions.
Explain to me how you do that with you dead iphone. Also no everyone carries multiply cards anymore, i have not in over 10 yrs, I am down to one card these days thanks to all stores taking Visa now. It is the old staying keep it simple stupid.
Last, as much as I find the Samsung commercial funny about the wall huggers, it is kind of true I know more people who use their iphone so much they are always looking to find somewhere to plug in, especially at night when you would be out for a good dinner. When the last time you seen people carrying their phone charger with them.
It is more realistic the phone maybe dead then the systems that processes the payment being offline.
try again it most likely will not have a data link and will need the phone, also i believe the iwatch is going to be like carplay, other companies will be making the product they interfaces with the iphone.
First you do not know how payment processing is handles, most payment processing is done by a central company which just verifies the card is a valid card.
The iPhone is a phone, not a card. I was saying the only concern I'd have carrying just a phone is if a store or restaurant didn't have the facility to process a phone payment.
Explain to me how you do that with you dead iphone.
Again, a dead iPhone is a pretty unlikely scenario and I'm sure staff in the restaurant could supply a charging cable rather than resort to doing the dishes.
Also no everyone carries multiply cards anymore, i have not in over 10 yrs, I am down to one card these days thanks to all stores taking Visa now.
Visa and credit cards are fairly close in terms of total transactions but people spend more on credit (the data will have gone up in recent years and is in the trillions):
When the last time you seen people carrying their phone charger with them.
It is more realistic the phone maybe dead then the systems that processes the payment being offline.
You're contradicting yourself here, if the possibility of the phone dying was so high then people would be carrying chargers with them and as you rightly say, most people aren't. Travellers do because they have to go more than a day without charging.
For travelling there's Mastercard, for everything else, there's an iPhone.
try again it most likely will not have a data link and will need the phone, also i believe the iwatch is going to be like carplay, other companies will be making the product they interfaces with the iphone.
Why would it have to have a data link to store your card details? You've heard of passbook, right?
Again, a dead iPhone is a pretty unlikely scenario and I'm sure staff in the restaurant could supply a charging cable rather than resort to doing the dishes.
At this point establishments would not have a Lightning or Micro-USB cable on hand for this specific scenario, but if smart-device-based payments become commonplace and if this issue oddly does happen often they might starting carrying them, just in case. This really isn't any different than places having backups for various other things.
Even if people don't need credit, people buy on credit to improve their credit score as it affects their ability to take out loans and mortgages.
I rarely ever carry or use cash. The most I have is a jar of quarters in my car for the occasional parking meter; many of which also take cards. I use various credit cards with various point systems at different establishments which I pay off weekly. I even affixed labels to each card that detail the various benefits of each.
For travelling there's Mastercard, for everything else, there's an iPhone.
This isn't any different than when credit cards first appeared? Very few places took them so you had to carry cash along with your card. Back then it was the carbon paper on the manually sliding press to make a print of the card. Pretty easy for people to use your card without consideration of your limit if it was stolen. You also had no ATMs so if your bank was closed you better have cash on you or hope your grocery store was open so you could cash a check (assuming you had signed up and waited to get approval for their check cashing business).
Then long after credit cards became commonplace we finally got electronic card readers that would verify a card and the purchase within a minute, but businesses still had the old, manual readers… and people still carried cash. So why are so many thinking that using a smart-device as a form of payment means that the other forms are instantly not going to work? I don't get it.
Explain to me how you do that with you dead iPhone.
Explain to me how people pay today when a place doesn't accept credit or debit cards?
It is more realistic the phone maybe dead then the systems that processes the payment being offline.
I am always dealing with system and network issues that keep payments from being processed. The number of people affected by even an outage of a couple hours is likely much higher than the likelihood of that many people arriving at the same place to make a payment with a dead smart-device.
Thanks for the useful information! From all the benefits and positive comments Amex gets, still the Consumer Financial Protection Bureau has gone on a bit of a tear with suits against charge card corporations, nailing Discover and Capital One a few months ago. American Express has joined the ranks, settling a suit with the Consumer Financial Protection Bureau and other agencies and agreeing to return $85 million to customers. You can get a cash advance to help pay off your credit card this month.
Comments
If it's so great, why hasn't it been adopted around the world? How successful is the adoption of NFC in Japan?
NFC payments are not new in Canada either.
I don't think it's overblown, but I can't give you a credible cite. I recall seeing numbers such as less than ten million terminals for Amex, versus many tens of millions for Visa and MasterCard.
I've been turned down many more times than 'once,' and while I prefer to pay with Amex, I always carry at least one extra credit card.
I've just not heard a lot of about them, but that's perhaps just me.
The larger point is, if it's already widely adopted, there's no problem in Apple jumping into it. If it's not, there's an opportunity for Apple, given the quantity and quality of its iOS clientele worldwide, to popularize it. A win either way.
The subject is in regard to NFC and whether it's included in the iPhone 6 and if it's used in regard to the agreements with the credit card companies.
The appalling part of this is that you didn't elaborate on the use of the wireless payments. Were you able to walk into a merchant ten years ago and pay for merchandise? All I could find on the web was paying for parking and other simple applications. I can do that in Minneapolis or St. Paul right now as well. Please expound on other apps from ten years ago that could be paid directly from a major credit card or bank account. I'm interested to know.
Yes, reportedly all three are on board.
So you are out on a date. or better yet you are hosting a really important business diner with an important client and your phone battery died, and the bill shows up at the table and you do not have your plastic card, how do you pay your bill, I guess you going to be taking a trip to the dish washing station.
I think that will go over well with whom ever you are trying to impress at the time.
It's a pretty unlikely scenario. The iPhone warns you when you hit 10% and 5% battery life. If someone is taking it past 5%, they are risking being without a means of emergency communication too. The bigger concern IMO is that the restaurant wouldn't be able to take the payment, that's why people carry multiple cards but partnering with the big companies should help ensure compliance.
And what happens if you happen to lose your wallet? At least with a dead iPhone you can pop it on a charger for 10 minutes to get it to power on make a payment.
It's a pretty unlikely scenario. The iPhone warns you when you hit 10% and 5% battery life. If someone is taking it past 5%, they are risking being without a means of emergency communication too. The bigger concern IMO is that the restaurant wouldn't be able to take the payment, that's why people carry multiple cards but partnering with the big companies should help ensure compliance.
First you do not know how payment processing is handles, most payment processing is done by a central company which just verifies the card is a valid card. They do not always go directly back to the company that issued the card. So if the payment processing company is down or the connection to processing company is offline they retails just manually processor your card, you know the old run the card through the roller machine with the carbon paper. Retailer do not like to do this since they pay a higher fee for manually process transactions.
Explain to me how you do that with you dead iphone. Also no everyone carries multiply cards anymore, i have not in over 10 yrs, I am down to one card these days thanks to all stores taking Visa now. It is the old staying keep it simple stupid.
Last, as much as I find the Samsung commercial funny about the wall huggers, it is kind of true I know more people who use their iphone so much they are always looking to find somewhere to plug in, especially at night when you would be out for a good dinner. When the last time you seen people carrying their phone charger with them.
It is more realistic the phone maybe dead then the systems that processes the payment being offline.
iWatch
try again it most likely will not have a data link and will need the phone, also i believe the iwatch is going to be like carplay, other companies will be making the product they interfaces with the iphone.
The iPhone is a phone, not a card. I was saying the only concern I'd have carrying just a phone is if a store or restaurant didn't have the facility to process a phone payment.
Again, a dead iPhone is a pretty unlikely scenario and I'm sure staff in the restaurant could supply a charging cable rather than resort to doing the dishes.
Visa and credit cards are fairly close in terms of total transactions but people spend more on credit (the data will have gone up in recent years and is in the trillions):
http://www.nerdwallet.com/blog/credit-card-data/credit-card-transaction-volume-statistics/
Even if people don't need credit, people buy on credit to improve their credit score as it affects their ability to take out loans and mortgages.
You're contradicting yourself here, if the possibility of the phone dying was so high then people would be carrying chargers with them and as you rightly say, most people aren't. Travellers do because they have to go more than a day without charging.
For travelling there's Mastercard, for everything else, there's an iPhone.
At this point establishments would not have a Lightning or Micro-USB cable on hand for this specific scenario, but if smart-device-based payments become commonplace and if this issue oddly does happen often they might starting carrying them, just in case. This really isn't any different than places having backups for various other things.
I rarely ever carry or use cash. The most I have is a jar of quarters in my car for the occasional parking meter; many of which also take cards. I use various credit cards with various point systems at different establishments which I pay off weekly. I even affixed labels to each card that detail the various benefits of each.
This isn't any different than when credit cards first appeared? Very few places took them so you had to carry cash along with your card. Back then it was the carbon paper on the manually sliding press to make a print of the card. Pretty easy for people to use your card without consideration of your limit if it was stolen. You also had no ATMs so if your bank was closed you better have cash on you or hope your grocery store was open so you could cash a check (assuming you had signed up and waited to get approval for their check cashing business).
Then long after credit cards became commonplace we finally got electronic card readers that would verify a card and the purchase within a minute, but businesses still had the old, manual readers… and people still carried cash. So why are so many thinking that using a smart-device as a form of payment means that the other forms are instantly not going to work? I don't get it.
Explain to me how people pay today when a place doesn't accept credit or debit cards?
I am always dealing with system and network issues that keep payments from being processed. The number of people affected by even an outage of a couple hours is likely much higher than the likelihood of that many people arriving at the same place to make a payment with a dead smart-device.
Half-expecting a surface-to-air launch…
Thanks for the useful information! From all the benefits and positive comments Amex gets, still the Consumer Financial Protection Bureau has gone on a bit of a tear with suits against charge card corporations, nailing Discover and Capital One a few months ago. American Express has joined the ranks, settling a suit with the Consumer Financial Protection Bureau and other agencies and agreeing to return $85 million to customers. You can get a cash advance to help pay off your credit card this month.