Apple Pay's success has rivals scrambling to catch up, could make PayPal an acquisition target

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  • Reply 21 of 146
    cnocbuicnocbui Posts: 3,613member
    Quote:

    Originally Posted by sflocal View Post



    All these years Google had to get its GoogleWallet going, and the Fandroids with their "Gazillion activations per day" nonsense, and they have zero to show for it.



    That is pathetic to say the least. Says a lot about Google and the user-base.



    What percentage of your in-person transactions do you use ?Pay for?

  • Reply 22 of 146
    But this is exactly what Icahn wants. By writing this you're helping him.
  • Reply 23 of 146
    cnocbuicnocbui Posts: 3,613member
    Quote:

    Originally Posted by Marc Rogoff View Post



    Apple really needs to get Apple Pay international to be a serious player.... Anyone buying Paypal will have instant international exposure...



    It will be interesting to see if it achieves any meaningful penetration in Europe, where contactless payment systems have been available for a while and chip and pin for a long time.   ?Pay has no security benefits over the existing payment methods so I suspect only the ostentatious will bother.

  • Reply 24 of 146
    calicali Posts: 3,494member
    cnocbui wrote: »
    How are Apple Pay and Paypal competitors?  One is geared towards online transactions via websites like eBay while the other is chiefly for making contactless in-person payments where there is a capacity to do so.

    You didn't see the ?Pay demo did you?

    Eddie Cue was using ?Pay to buy Beats headphones online.

    I heard Amazon is even thinking of incorporating ?Pay.
    danielsw wrote: »

    How do you know they're not? Two totally different "ball games."

    I'd say ?Pay is most likely more priority at this stage, though. It's far more strategic, and <span style="line-height:1.4em;">?Pay has to go in with a bang so as to beat our potential competition.</span>


    Auto makers can "switch" with relative ease with a new model year. Isn't Ford switching from MS's system to CarPlay?

    I just think they could have been more aggressive with CarPlay. Maybe this year is it?
    But compared to the hardball they played with ?Pay it's not even comparable.

    ?Pay gained more users than Giggle Wallet literally OVERNIGHT.
    that is insane!!

    Today everyone knows what ?Pay is, no one I know is even talking about CarPlay.

    It would be nice if 2015 car commercials mention CarPlay like banks mention ?Pay.

    Lets see what happens.
  • Reply 25 of 146
    calicali Posts: 3,494member
    cnocbui wrote: »
    It will be interesting to see if it achieves any meaningful penetration in Europe, where contactless payment systems have been available for a while and chip and pin for a long time.   ?Pay has no security benefits over the existing payment methods so I suspect only the ostentatious will bother.

    Are you serious?!!

    NO SECURITY BENEFITS?

    I'm not even gonna waste my time there.

    Besides security there's tons of other benefits like a credit limit above $20.
    I have no doubt Apple will conquer these markets.
  • Reply 26 of 146
    dachardachar Posts: 330member

    In the UK it has just been reported that for the first time cashless payments have exceeded traditional methods with notes and coins. Most of the cashless payments will  be with chip and pin credit and debit cards that we have had for years. I have yet to see anyone use contactless payments in the UK but many terminals now offer this if you want. It will be interesting to compare the growth of Apple Pay when it comes to the UK against what has happened in the USA where it seems chip and pin is not so popular. 

  • Reply 27 of 146
    maestro64maestro64 Posts: 5,035member

    Hers is my perdiction, and we all see it before.

     

    All these other solution will fail not because they are not a good idea but because you will have a bunch of companies with too much money than ideas running around trying to buy what they could not figure out for themselve since the feel they are behind and can not catch up fast enough with out buying these stupid start ups with over valuations which the investors will make stupid amounts of money. When the big companies realize what they bough (slideware) they will shut it all down and the only one standing will be ApplePay, and some clumsy me too solution which hardly works and the industry will be a mess. for years to come.

     

    At some point the government will step in and require some sort of standardization which will not be the apple solution, since the governments never put the best but the lowest commond denominator solution which everyone will hate.

     

    Come back to this in 5 yrs and see what it all looks like.

  • Reply 28 of 146
    newbeenewbee Posts: 2,055member
    Quote:
    Originally Posted by Marvin View Post





    You're missing out the fingerprint id. This isn't something that every manufacturer could have nor would have done and is a crucial element in ?Pay's security. Apple has a speed advantage in the payment process due to how they set it up. Every time Apple does something the right way, people dismiss it as something inevitable but given how many times Apple has done this sort of thing, that critique that it's just about marketing doesn't hold up.



    Finally, someone who, not only "gets it", but can articulate their ideas well. Good post, Marvin. :)

  • Reply 29 of 146
    maestro64maestro64 Posts: 5,035member
    Quote:
    Originally Posted by Dachar View Post

     

    In the UK it has just been reported that for the first time cashless payments have exceeded traditional methods with notes and coins. Most of the cashless payments will  be with chip and pin credit and debit cards that we have had for years. I have yet to see anyone use contactless payments in the UK but many terminals now offer this if you want. It will be interesting to compare the growth of Apple Pay when it comes to the UK against what has happened in the USA where it seems chip and pin is not so popular.


    That is intersting fact, the UK just now sees more transaction with plastic then hard currency. Once in a great while do I actually see someone pull cash out in the US, everyone is using plastic of somesort. Every once and a while I see someone write a check as well. I supect the cash and check writers were put on some sort of budget and no long have a CC, when someone can not control their spending they usually cut up the CC and make them deal in cash.

     

    Just so you know chip and pin works together with apple pay. the pin is you finger print and the chip is the NFC chip, the only change beyond the banks accepting it, is to change out the POS terminal, however I suspect the terminals in the EU already have the NFC technology in them, they just need to be turned on.

  • Reply 30 of 146
    newbeenewbee Posts: 2,055member
    Quote:
    Originally Posted by cali View Post





    You didn't see the ?Pay demo did you?



    Eddie Cue was using ?Pay to buy Beats headphones online.



    I heard Amazon is even thinking of incorporating ?Pay.

    I just think they could have been more aggressive with CarPlay. Maybe this year is it?

    But compared to the hardball they played with ?Pay it's not even comparable.



    ?Pay gained more users than Giggle Wallet literally OVERNIGHT.

    that is insane!!



    Today everyone knows what ?Pay is, no one I know is even talking about CarPlay.



    It would be nice if 2015 car commercials mention CarPlay like banks mention ?Pay.



    Lets see what happens.



    People don't buy cars at the same rate that they purchase everything else, plus the Auto companies are not known as being "forward thinking". CarPlay will become bigger eventually but, as for now, there are bigger fish to fry.

  • Reply 31 of 146
    maestro64maestro64 Posts: 5,035member
    Quote:
    Originally Posted by Marvin View Post





    You're missing out the fingerprint id. This isn't something that every manufacturer could have nor would have done and is a crucial element in ?Pay's security. Apple has a speed advantage in the payment process due to how they set it up. Every time Apple does something the right way, people dismiss it as something inevitable but given how many times Apple has done this sort of thing, that critique that it's just about marketing doesn't hold up.

    Here is the other point, Apple patented the entire process of doing this. yes company can put in a finger print reader and the security chip and process a payment. however, apple got this all covered under patents and if anyone attempt to copy exactly how they are doing it, there will be another war which Apple will win.

  • Reply 32 of 146
    cnocbuicnocbui Posts: 3,613member
    Quote:

    Originally Posted by cali View Post





    You didn't see the ?Pay demo did you?



    Eddie Cue was using ?Pay to buy Beats headphones online.



     

    No I didn't.  I have now taken a look and that is very slick if you use an iPhone to do your on-line shopping from.  I use a laptop so I was really thinking of my own use case.

     

    Quote:

    Originally Posted by cali View Post





    Are you serious?!!



    NO SECURITY BENEFITS?



    I'm not even gonna waste my time there.



    Besides security there's tons of other benefits like a credit limit above $20.

    I have no doubt Apple will conquer these markets.

     

    Yes, I am serious.  What security benefit does touch ID have over entering a PIN for a transaction?  The limit only applies to tap-to-pay without a PIN - there is no limit when using a PIN.

     

    Apple might conquer Europe, but I doubt it.  On Black Friday, only 5% of iPhone 6/+ users who technically could have used ?Pay to make a purchase actually did so.

  • Reply 33 of 146
    Marvin wrote: »
    You're missing out the fingerprint id. This isn't something that every manufacturer could have nor would have done and is a crucial element in ?Pay's security. Apple has a speed advantage in the payment process due to how they set it up. Every time Apple does something the right way, people dismiss it as something inevitable but given how many times Apple has done this sort of thing, that critique that it's just about marketing doesn't hold up.

    To add to that, it's more than just the user-facing convenience of Touch ID. It's also the backend design that keeps control with the banks while making transaction more secure for customers and financial institutions.

    How anyone can look all these aspects of ?Pay that have never before been connected into a seamless design, then pull out NFC (or some other standard) as proof Apple isn't doing anything new or better?
  • Reply 34 of 146
    mnbob1mnbob1 Posts: 269member
    Quote:

    Originally Posted by Marvin View Post





    You're missing out the fingerprint id. This isn't something that every manufacturer could have nor would have done and is a crucial element in ?Pay's security. Apple has a speed advantage in the payment process due to how they set it up. Every time Apple does something the right way, people dismiss it as something inevitable but given how many times Apple has done this sort of thing, that critique that it's just about marketing doesn't hold up.



    Fingerprint is a good part of but the use of passing a token instead of the actual credit card data is also important in Apple Pay's security. Between the two features it's the reason that so many financial companies have embraced it. Security of credit card/debit card data has cost millions because of data breaches within retail and others. With Apple Pay they can minimize and possibly eliminate that type of fraud since the token resets after each transaction and doesn't identify the card and/or holder at the point of transaction. That together with the use of the finger print sensor to control access to the phone creates a very secure system. The other thing is that Apple Pay is extremely easy to use. You don't have to unlock your phone and run an app to apply payments. User acceptance is very high.

  • Reply 35 of 146
    cnocbui wrote: »
    No I didn't.  I have now taken a look and that is very slick if you use an iPhone to do your on-line shopping from.  I use a laptop so I was really thinking of my own use case.


    Yes, I am serious.  What security benefit does touch ID have over entering a PIN for a transaction?  The limit only applies to tap-to-pay without a PIN - there is no limit when using a PIN.

    Apple might conquer Europe, but I doubt it.  On Black Friday, only 5% of iPhone 6/+ users who technically could have used ?Pay to make a purchase actually did so.

    I thought tokenization of the process was why it's security is better. They aren't the only ones using tokens but it's supposedly more secure.
  • Reply 36 of 146
    danielsw wrote: »

    I don't get that, either.

    I'd also love to be able to use my MasterCard Paypal Debit card with ?Pay.
    1. Brand recognition
    2. Infrastructure
    3. First mover advantage in (a) market segment(s) in which Apple doesn't yet compete
  • Reply 37 of 146
    mnbob1mnbob1 Posts: 269member
    Quote:

    Originally Posted by sflocal View Post



    All these years Google had to get its GoogleWallet going, and the Fandroids with their "Gazillion activations per day" nonsense, and they have zero to show for it.



    That is pathetic to say the least. Says a lot about Google and the user-base.



    Google Wallet wasn't secure enough for financial companies to jump on board. Implementation across multiple phone vendors and mostly the carriers created a huge problem for how it was activated. Users had to go through multiple steps to use it and many retailers didn't accept it. A large percentage of Android users are not high credit card users like Apple iPhone users.

  • Reply 38 of 146
    mpantonempantone Posts: 1,845member
    Quote:

    Originally Posted by cnocbui View Post

     

    On Black Friday, only 5% of iPhone 6/+ users who technically could have used ?Pay to make a purchase actually did so.


    That is a meaningless statistic.

     

    Not everyone buys stuff from a bricks-and-mortar retailer on Black Friday. Not every retailer accepts Apple Pay.

  • Reply 39 of 146
    cnocbuicnocbui Posts: 3,613member
    Quote:

    Originally Posted by cdarlington1 View Post





    I thought tokenization of the process was why it's security is better. They aren't the only jones using tokens but it's supposedly more secure.



    I don't see how it is more secure.  I would say most transactions use Visa Debit over here.  You are accessing funds in your own bank account, not credit, and I have never heard of a breach of the point of sale system whereby data was intercepted and used to withdraw funds from someone's account.  I presume encryption is used.  Without the PIN, the card is unusable.

     

    Tokeneisation would seem to provide a benefit in terms of not divulging marketing and identification information to the retailer, but I am not sure that occurs at present over here as I have never received anything unsolicited in the mail, for example, that might indicate my details were passed on to a retailer in a chip and PIN transaction.

  • Reply 40 of 146
    mnbob1mnbob1 Posts: 269member

    The reason that all the banks and financial users have embraced Apple Pay are:

     

    1. Ease of use. One button touch to complete the transaction.

    2. Security. TouchID fingerprint access and token passing.

    3. Apple iPhone users are in are higher income demographic than Android users and are most likely to use credit cards and take advantage of Apple Pay's features.

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