Apple Pay activations hit over 1M in first 72 hours, more than all competitors combined

Posted:
in General Discussion edited November 2014
At The Wall Street Journal's inaugural WSJD Live conference on Monday, Apple CEO Tim Cook revealed Apple Pay is off to a booming start, with more than one million card activations in its first 72 hours of service.



According to Cook, the massive uptake makes Apple Pay the largest contactless payment system in the U.S., more than the combined total of cards registered with competitors.

"The early ramp [of Apple Pay] looks fantastic," Cook said in an interview with WSJ managing editor Gerry Baker.

Cook referred to recent revelations that Merchant Customer Exchange retailers like Rite Aid and CVS are now blocking Apple Pay, characterizing the situation as a "skirmish" that will ultimately be decided by consumers "over the long arc of time."

Apple Pay debuted last week as part of iOS 8.1, enabling the NFC module in the iPhone 6 and iPhone 6 Plus to handle touch-less mobile payments. The payments solution integrates with Touch ID fingerprint recognition, performs tokenized transactions and includes hardware-level data security.
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Comments

  • Reply 1 of 33

    Whatever. 1 million activations is what Android does in, what? every 0.05 seconds? /s

  • Reply 2 of 33
    paul94544paul94544 Posts: 1,027member
    thats great i just wish my rei (us bank) credit card and Etrade debit cards were one of those
  • Reply 3 of 33

    Put seriously, Apple Pay is pretty sweet.

  • Reply 4 of 33

    Wish I could. My bank doesn’t support it yet.

     

    I still prefer cloth to anything else, anyway. Then again, what does it matter when currency is backed by faith?

    In before any posts calling out “hypocrisy”.

  • Reply 5 of 33
    rogifanrogifan Posts: 10,669member
    OK I was following The Verge live blog. Can someone tell me why Cook accepts invitations to these events? He doesn't say anything interesting. All the same answers we've heard a million times before. TV is an area of interest for Apple. TV interfaces are stuck In the 70s blah blah blah. Cook said the exact same thing in 2012 and 2013. Seriously these questions were bad (and predictable) and so were Cooks answers.

    http://live.theverge.com/tim-cook-wsjd-live-blog/

    Jony Ive is receiving an award from the San Francisco Museum of Modern Art on Thursday evening. He's supposed to be doing a sit down interview. God I hope someone asks him some interesting questions and we don't get the same answers we've heard a million times before.
  • Reply 6 of 33
    adonissmuadonissmu Posts: 1,772member
    Whatever. 1 million activations is what Android does in, what? every 0.05 seconds? /s
    Not in the US. Maybe in the EU some where.
  • Reply 7 of 33
    adonissmuadonissmu Posts: 1,772member
    I love this quote!

    [quote]Yet over the weekend, retailers CVS and Rite Aid, which hadn't initially signed up with Apple Pay, disabled its mobile payments retail pinpads, when it was discovered that customers were using them for Apple Pay instead of Google Wallet, as had been initially intended.

    "It's a skirmish, that's the way we see it," said Cook. "I think that over the long arc of time, retailers will step back. Merchants have different objectives some times, but in the long arc of time, you're only relevant if customers love you."[/quote]
  • Reply 9 of 33
    if android's nfc system is superior , please explain why google, samsung, and lg will not to the best of my knowledge guarantee the transactions. they do not trust their own platform enough to pay for the chargebacks. i can't find info about that anywhere. yet it is widely reported that in exchange for 15 cents for every 100 dollars, that the bank pays apple, apple has agreed to be held liable on credit card chargebacks

    you have to keep in mind. its 2014, and google has just agreed to enable encryption in android L. something that apple has been doing in hardware since the A4 chip in 2009

    someone will eventually crack currentC and make an app that steals from CVS, because of the weaknesses of android.

    meanwhile if you try and remove the secure element from an iPhone 6, it blows up
  • Reply 10 of 33
    solipsismxsolipsismx Posts: 19,566member
    paul94544 wrote: »
    thats great i just wish my rei (us bank) credit card and Etrade debit cards were one of those
    Wish I could. My bank doesn’t support it yet.

    I still prefer cloth to anything else, anyway. Then again, what does it matter when currency is backed by faith?
    In before any posts calling out “hypocrisy”.

    It only arrive last Monday so give it some time. I really don't think it will take too long for banks to update their backend to support ?Pay. There is simply too much extra profit to be had by reducing fraud over to the long term.

    rogifan wrote: »
    Can someone tell me why Cook accepts invitations to these events? He doesn't say anything interesting.

    This article is proof he had something interesting to say.

    adonissmu wrote: »
    I love this quote!

    Right?! He's keeping it classy, which is not something Jobs could really do. I'm definitely not a fan of the idea (forum commenters had) of removing CurrentC from the App Store to get even with them.

    rigorkrad wrote: »
    if android's nfc system is superior , please explain why google, samsung, and lg will not to the best of my knowledge guarantee the transactions.

    I don't think they have to do guarantee transactions, just as Apple doesn't have to guarantee transactions because there is a CC company handling transactions for Google Wallet, as well as the payments still going through your cards at the end where you will get protection.
  • Reply 11 of 33

    i just had a conversation with an android using friend. he said, 'big deal, samsung has had that for three years now'. i then asked him if he ever used it, 'no'.

     

    they are clearly not number one in that area.

  • Reply 12 of 33
    Quote:

    Originally Posted by rigorkrad View Post



    if android's nfc system is superior , please explain why google, samsung, and lg will not to the best of my knowledge guarantee the transactions. they do not trust their own platform enough to pay for the chargebacks. i can't find info about that anywhere. yet it is widely reported that in exchange for 15 cents for every 100 dollars, that the bank pays apple, apple has agreed to be held liable on credit card chargebacks



    you have to keep in mind. its 2014, and google has just agreed to enable encryption in android L. something that apple has been doing in hardware since the A4 chip in 2009



    someone will eventually crack currentC and make an app that steals from CVS, because of the weaknesses of android.



    meanwhile if you try and remove the secure element from an iPhone 6, it blows up



    I don't think Apple guarantee's Apple Pay transactions.  The banks are paying Apple that money for implemented a system that is so fraud-resistant that the banks will save that money and more [as they also said the banks will lower the fee's charged to merchants for Apple Pay transactions, so it's literally a win for everyone].

  • Reply 13 of 33
    paxmanpaxman Posts: 4,616member
    rogifan wrote: »
    OK I was following The Verge live blog. Can someone tell me why Cook accepts invitations to these events? He doesn't say anything interesting. All the same answers we've heard a million times before. TV is an area of interest for Apple. TV interfaces are stuck In the 70s blah blah blah. Cook said the exact same thing in 2012 and 2013. Seriously these questions were bad (and predictable) and so were Cooks answers.

    http://live.theverge.com/tim-cook-wsjd-live-blog/

    Jony Ive is receiving an award from the San Francisco Museum of Modern Art on Thursday evening. He's supposed to be doing a sit down interview. God I hope someone asks him some interesting questions and we don't get the same answers we've heard a million times before.
    Don't expect interesting. Cook and Ive have pretty much said what they're gonna say, this year. The only chance we'll get anything interesting is if they choose to speak off topic (Apple).
  • Reply 14 of 33
    rogifanrogifan Posts: 10,669member
    solipsismx wrote: »
    This article is proof he had something interesting to say.
    Ok one thing. And that is something Apple could easily have leaked to CNBC like they did with AppStore figures a couple months ago. What did he say about television? It's an area of interest. Well no shit you've only been saying that for the past three years. How long are you going to remain interested without actually doing anything?
  • Reply 15 of 33
    adonissmu wrote: »
    Not in the US. Maybe in the EU some where.

    Fantasyland, methinks. ;)
  • Reply 16 of 33
    rogifanrogifan Posts: 10,669member
    paxman wrote: »
    Don't expect interesting. Cook and Ive have pretty much said what they're gonna say, this year. The only chance we'll get anything interesting is if they choose to speak off topic (Apple).
    I hate it when they get asked the same questions and provide the same stock answers.
  • Reply 17 of 33
    apple ][apple ][ Posts: 8,743member

    I did my part!

     

    I activated one card as my default.

  • Reply 18 of 33

    Boom!  That's a rip-roaring start.  I'd sure like to know how many Google Wallet activations there were in the first 72 days.  Maybe they're still waiting to get to a million activations since 2011.  Anyway, Google had NFC payments first and that's what really matters.  /s

     

    I'll bet Eric Schmidt is secretly fuming over how Apple Pay is going to blow away Google Wallet.  Take that, Eric.  Therm-o-nuclear.

  • Reply 19 of 33
    Quote:

    Originally Posted by Suddenly Newton View Post

     

    Whatever. 1 million activations is what Android does in, what? every 0.05 seconds? /s




    Did u even read the article ?? or just trolling ?? - its about APPLE PAY ACTIVATIONS :P

  • Reply 20 of 33
    ingsocingsoc Posts: 212member
    Quote:

    Originally Posted by Rogifan View Post



    OK I was following The Verge live blog. Can someone tell me why Cook accepts invitations to these events? He doesn't say anything interesting. All the same answers we've heard a million times before. TV is an area of interest for Apple. TV interfaces are stuck In the 70s blah blah blah. Cook said the exact same thing in 2012 and 2013. Seriously these questions were bad (and predictable) and so were Cooks answers.



    http://live.theverge.com/tim-cook-wsjd-live-blog/



    Jony Ive is receiving an award from the San Francisco Museum of Modern Art on Thursday evening. He's supposed to be doing a sit down interview. God I hope someone asks him some interesting questions and we don't get the same answers we've heard a million times before.

     

    One reason is different audiences. There are many audiences that are relevant here, and not all of them overlap. We hear the same things over and over because we are a small group of enthusiasts who peruse this stuff regularly - most people don't.

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