I use Discover for my Credit card payments, and pay the balance each month... I get a month float, with no credit charges.
For the few online sites that don't accept Discover I sometimes use PayPal... The Paypal bill is charged to my Discover card.
For all Discover Card purchases, I get a 2% CashBack Bonus.
Discover runs special discounts -- For example Any purchases through the Apple Online Store earn a 5% CashBack bonus.
My next Apple Purchase will, likely, be a $7,000 Mac Pro. That would qualify for $350 discount/bonus.
So... There is somewhere between 2%-5% savings available on any purchase I make
Somebody(s) is paying or eating those "savings" and the float...
What if Apple's "payment system" apportioned those "savings" among the buyers and sellers?
Would that have any appeal to either?
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I am the same. Don't also forget a few other perks like automatically extending a manufacturer warranty an extra year or price matching if something you buy goes on sale within 30 days. I just got a $90 refund from Discover because the home theater speakers I bought were on sale for $90 cheaper a week after I bough them. The only way an Apple payment system would appeal to me in the least is if they matched all the points you made as well as the ones I added.
Good points... I've never experienced thess benes -- but Apple will need to match or exceed them!
Most people using Paypal simply sign in from checkout whether on their computer web browser or phone or tablet browser and pay. So even if Apple bought it that would likely still be platform agnostic.
Correct me if I am wrong, but a platform agnostic service would be a "FIRST" for Apple. It is a radical change in usual Apple approach, with services and software tightly coupled to Apple hardware. My feeling is that Apple does not want to enter platform-agnostic market (but I can be wrong).
Just as an example: the natural evolution of payment systems is the mobile approach, with smartphone used to enable short-range payments; an Apple-Paypal should support also android and windowsphone hardware, else a lot of current customers and merchant will look for an alternative. In my opinion "not going to happen".
Most people using Paypal simply sign in from checkout whether on their computer web browser or phone or tablet browser and pay. So even if Apple bought it that would likely still be platform agnostic.
Correct me if I am wrong, but a platform agnostic service would be a "FIRST" for Apple. It is a radical change in usual Apple approach, with services and software tightly coupled to Apple hardware. My feeling is that Apple does not want to enter platform-agnostic market (but I can be wrong).
Just as an example: the natural evolution of payment systems is the mobile approach, with smartphone used to enable short-range payments; an Apple-Paypal should support also android and windowsphone hardware, else a lot of current customers and merchant will look for an alternative. In my opinion "not going to happen".
Here are some ways to do it:
Support non-Apple platforms through the device's browser and a web site
Build a native app for each platform the way they did with iTunes on Windows
The solution for iOS and OSX devices would exploit TouchID, BLE, 802.11ac WiFi, etc. and would provide a better and more secure UX because the software would match known hardware.
Apple could also supply an SDK for competing platforms – Although, I doubt they will.
Then, there's another possibility…
Apple could build an inexpensive device that fits in your wallet and acts as an interface between third-party OS devices and the Apple buying/shopping system.
The UX would not be as good as an Apple-only solution -- but it would be superior to existing solutions in convenience and security.
The Apple buying/shopping system could offer different rewards/charges/discounts (to buyers and sellers) depending on the way the transaction was generated:
Secure TouchID transaction from an Apple device
Semi-secure transaction using the Apple wallet device (above) with a non-Apple device
Browser transaction or native app transaction
Manual transaction -- cc swipe, etc. -- as is done today
Gawd no! PayPal is consumer hostile, avoids or ignores consumer protection laws, operates as a bank without following the banking regulations, and is, in my opinion, a near criminal organization.
Gawd no! PayPal is consumer hostile, avoids or ignores consumer protection laws, operates as a bank without following the banking regulations, and is, in my opinion, a near criminal organization.
I will never ever ever ever deal with PayPal.
It makes sense when you see one of the co-founders:
"Peter Thiel, the billionaire Paypal founder and venture capitalist, has invested in a plan to create a floating island utopia that is not governed by the rules of any country.
He said the island, in international waters, would initially be home to 270 people, but could grow to eventually support millions. The project will start next year [2012] with the construction of several floating offices off the coast of San Francisco. Full-time settlement of the island is scheduled for seven years' time."
"Thiel viewed PayPal's mission as liberating people throughout the world from the erosion of the value of their currencies due to inflation."
"We're definitely onto something big. The need PayPal answers is monumental. Everyone in the world needs money – to get paid, to trade, to live. Paper money is an ancient technology and an inconvenient means of payment. You can run out of it. It wears out. It can get lost or stolen. In the twenty-first century, people need a form of money that's more convenient and secure, something that can be accessed from anywhere with a PDA or an Internet connection. Of course, what we're calling 'convenient' for American users will be revolutionary for the developing world. Many of these countries' governments play fast and loose with their currencies," the former derivatives trader [referring to Thiel] noted, before continuing,
"They use inflation and sometimes wholesale currency devaluations, like we saw in Russia and several Southeast Asian countries last year [referring to the 1998 Russian financial crisis and 1997 Asian financial crisis], to take wealth away from their citizens. Most of the ordinary people there never have an opportunity to open an offshore account or to get their hands on more than a few bills of a stable currency like U.S. dollars. Eventually PayPal will be able to change this. In the future, when we make our service available outside the U.S. and as Internet penetration continues to expand to all economic tiers of people, PayPal will give citizens worldwide more direct control over their currencies than they ever had before. It will be nearly impossible for corrupt governments to steal wealth from their people through their old means because if they try the people will switch to dollars or Pounds or Yen, in effect dumping the worthless local currency for something more secure."
He won't be involved with Paypal now or probably for the last decade but I don't think their policies have changed much over the years. As an aside, I noticed the eBay founder used to work for Claris:
"Omidyar went to work for Claris, an Apple Computer subsidiary, where he worked on the team upgrading MacDraw to MacDraw II. In 1991, he co-founded Ink Development, a pen-based computing startup that was later rebranded as an e-commerce company and renamed eShop."
Anyway, it is strange how people like Thiel set out to correct the problems they see in the world by acting like a law unto themselves but the rules they set ultimately harm their customers at some point. They are patriotic and talk about the strength of the US dollar but host their services in tax havens like Luxembourg and he now wants to move to international waters. Elon Musk who was one of the Paypal co-founders has a fondness for the game Bioshock:
"Musk made this reporter play BioShock with him for 90 minutes."
This is a game with a story about the scenarios that crop up in a supposedly lawless utopian city built underwater. Much the same setup as Thiel's island. Not that Musk shares the same views of course. One of the early sequences in the game has the following audio:
"Is a man not entitled to the sweat of his brow? 'No!' says the man in Washington, 'it belongs to the poor.' 'No!' says the man in the Vatican, 'it belongs to God.' 'No!' says the man in Moscow, 'it belongs to everyone.' I rejected those answers; instead, I chose something different. I chose the impossible. I chose... Rapture. A city where the artist would not fear the censor; where the scientist would not be bound by petty morality; where the great would not be constrained by the small! And with the sweat of your brow, Rapture can become your city as well."
I imagine that Apple's system would act as an international payment solution like Paypal. Their patent goes into details about securing loans internationally. They could easily become a bank with the amount of capital they have. They can loan out $100b (including to buy Apple products like the financing they already have) and charge interest on the repayment:
The extended system would apply to more than just Apple product purchases. Apple already invests their money in mortgages and other kinds of loans. JP Morgan made $5.3b net income Q4 2013.
"JPMorgan Chase & Co. (“JPMorgan Chase” or the “Firm”), a financial holding company incorporated under Delaware law in 1968, is a leading global financial services firm and one of the largest banking institutions in the United States of America (“U.S.”), with operations worldwide; the Firm has $2.3 trillion in assets and $183.6 billion in stockholders’ equity as of December 31, 2011."
Apple's stockholder equity is $124b. Maybe it would be better off used to loan out at interest than invest it in things they have no guarantee over the return. It's risky but they have more than enough capital and sustained revenue that they wouldn't need to be leveraged nearly as much as the banks.
Gawd no! PayPal is consumer hostile, avoids or ignores consumer protection laws, operates as a bank without following the banking regulations, and is, in my opinion, a near criminal organization.
Comments
Good points... I've never experienced thess benes -- but Apple will need to match or exceed them!
Correct me if I am wrong, but a platform agnostic service would be a "FIRST" for Apple. It is a radical change in usual Apple approach, with services and software tightly coupled to Apple hardware. My feeling is that Apple does not want to enter platform-agnostic market (but I can be wrong).
Just as an example: the natural evolution of payment systems is the mobile approach, with smartphone used to enable short-range payments; an Apple-Paypal should support also android and windowsphone hardware, else a lot of current customers and merchant will look for an alternative. In my opinion "not going to happen".
Here are some ways to do it:
The solution for iOS and OSX devices would exploit TouchID, BLE, 802.11ac WiFi, etc. and would provide a better and more secure UX because the software would match known hardware.
Apple could also supply an SDK for competing platforms – Although, I doubt they will.
Then, there's another possibility…
Apple could build an inexpensive device that fits in your wallet and acts as an interface between third-party OS devices and the Apple buying/shopping system.
The UX would not be as good as an Apple-only solution -- but it would be superior to existing solutions in convenience and security.
The Apple buying/shopping system could offer different rewards/charges/discounts (to buyers and sellers) depending on the way the transaction was generated:
Best of all [platforms] worlds?
Gawd no! PayPal is consumer hostile, avoids or ignores consumer protection laws, operates as a bank without following the banking regulations, and is, in my opinion, a near criminal organization.
I will never ever ever ever deal with PayPal.
It makes sense when you see one of the co-founders:
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/8721536/Paypal-founder-invests-in-floating-island-utopia.html
"Peter Thiel, the billionaire Paypal founder and venture capitalist, has invested in a plan to create a floating island utopia that is not governed by the rules of any country.
He said the island, in international waters, would initially be home to 270 people, but could grow to eventually support millions. The project will start next year [2012] with the construction of several floating offices off the coast of San Francisco. Full-time settlement of the island is scheduled for seven years' time."
Hedge fund manager too.
http://www.seasteading.org
http://en.wikipedia.org/wiki/Peter_Thiel
"Thiel viewed PayPal's mission as liberating people throughout the world from the erosion of the value of their currencies due to inflation."
"We're definitely onto something big. The need PayPal answers is monumental. Everyone in the world needs money – to get paid, to trade, to live. Paper money is an ancient technology and an inconvenient means of payment. You can run out of it. It wears out. It can get lost or stolen. In the twenty-first century, people need a form of money that's more convenient and secure, something that can be accessed from anywhere with a PDA or an Internet connection. Of course, what we're calling 'convenient' for American users will be revolutionary for the developing world. Many of these countries' governments play fast and loose with their currencies," the former derivatives trader [referring to Thiel] noted, before continuing,
"They use inflation and sometimes wholesale currency devaluations, like we saw in Russia and several Southeast Asian countries last year [referring to the 1998 Russian financial crisis and 1997 Asian financial crisis], to take wealth away from their citizens. Most of the ordinary people there never have an opportunity to open an offshore account or to get their hands on more than a few bills of a stable currency like U.S. dollars. Eventually PayPal will be able to change this. In the future, when we make our service available outside the U.S. and as Internet penetration continues to expand to all economic tiers of people, PayPal will give citizens worldwide more direct control over their currencies than they ever had before. It will be nearly impossible for corrupt governments to steal wealth from their people through their old means because if they try the people will switch to dollars or Pounds or Yen, in effect dumping the worthless local currency for something more secure."
He won't be involved with Paypal now or probably for the last decade but I don't think their policies have changed much over the years. As an aside, I noticed the eBay founder used to work for Claris:
http://en.wikipedia.org/wiki/Pierre_Omidyar
"Omidyar went to work for Claris, an Apple Computer subsidiary, where he worked on the team upgrading MacDraw to MacDraw II. In 1991, he co-founded Ink Development, a pen-based computing startup that was later rebranded as an e-commerce company and renamed eShop."
Anyway, it is strange how people like Thiel set out to correct the problems they see in the world by acting like a law unto themselves but the rules they set ultimately harm their customers at some point. They are patriotic and talk about the strength of the US dollar but host their services in tax havens like Luxembourg and he now wants to move to international waters. Elon Musk who was one of the Paypal co-founders has a fondness for the game Bioshock:
http://jalopnik.com/5896493/watch-billionaire-electric-car-mogul-elon-musk-explain-bioshock-to-reporter
"Musk made this reporter play BioShock with him for 90 minutes."
This is a game with a story about the scenarios that crop up in a supposedly lawless utopian city built underwater. Much the same setup as Thiel's island. Not that Musk shares the same views of course. One of the early sequences in the game has the following audio:
"Is a man not entitled to the sweat of his brow? 'No!' says the man in Washington, 'it belongs to the poor.' 'No!' says the man in the Vatican, 'it belongs to God.' 'No!' says the man in Moscow, 'it belongs to everyone.' I rejected those answers; instead, I chose something different. I chose the impossible. I chose... Rapture. A city where the artist would not fear the censor; where the scientist would not be bound by petty morality; where the great would not be constrained by the small! And with the sweat of your brow, Rapture can become your city as well."
Other snippets are here: http://en.wikiquote.org/wiki/BioShock
I imagine that Apple's system would act as an international payment solution like Paypal. Their patent goes into details about securing loans internationally. They could easily become a bank with the amount of capital they have. They can loan out $100b (including to buy Apple products like the financing they already have) and charge interest on the repayment:
http://store.apple.com/us/instant_credit?mco
The extended system would apply to more than just Apple product purchases. Apple already invests their money in mortgages and other kinds of loans. JP Morgan made $5.3b net income Q4 2013.
"JPMorgan Chase & Co. (“JPMorgan Chase” or the “Firm”), a financial holding company incorporated under Delaware law in 1968, is a leading global financial services firm and one of the largest banking institutions in the United States of America (“U.S.”), with operations worldwide; the Firm has $2.3 trillion in assets and $183.6 billion in stockholders’ equity as of December 31, 2011."
Apple's stockholder equity is $124b. Maybe it would be better off used to loan out at interest than invest it in things they have no guarantee over the return. It's risky but they have more than enough capital and sustained revenue that they wouldn't need to be leveraged nearly as much as the banks.
My sentiments, too.
http://www.siliconbeat.com/2014/02/25/paypal-and-samsung-partnership-advances-wearables-biometrics/