Apple Pay activations hit over 1M in first 72 hours, more than all competitors combined
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.
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.
Comments
Whatever. 1 million activations is what Android does in, what? every 0.05 seconds? /s
Put seriously, Apple Pay is pretty sweet.
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”.
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.
[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]
http://www.stableytimes.com/news/rumor-amazon-eyes-iphone-6-plus-fire-phone-sales-flop/21694/
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
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.
This article is proof he had something interesting to say.
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.
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.
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.
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].
Fantasyland, methinks.
I did my part!
I activated one card as my default.
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.
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
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.