Apple Partnering With American Express on iPhone Mobile Payments Initiative [Updated]

[wibongo]

For anyone considering Bluebird, be warned you DO NOT get the world-class customer service you would expect from AMEX. It's a joint Walmart-Amex deal and although the practically no fees is good when you have a problem it's a nightmare.

I may switch to Serve, just to see if the customer service is better.

Amex has two debit card-style cards: Serve and Bluebird. Check them out.

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Amex has two debit card-type products: Serve & Bluebird. Check them out.

 

[engg2000]

And Amex's serve card already has an NFC integration with mostly Android phones called ISIS. An iPhone introduction might be a good time to rebrand it considering the recent connotation of that word.

Just my luck though....possible partnerships with Visa and Amex, and my current primary card is a MasterCard!

Don't worry...you seriously think Mastercard isn't going to sign or isn't already signed?
I called this on May 29....

https://forums.macrumors.com/showthread.php?p=19531451#post19531451

https://forums.macrumors.com/showthread.php?p=19161171#post19161171

 

[brendu]

responsible with money and credit cards don't belong in the same sentence. The price of goods is higher than needs be simply because people use credit cards.

Could you elaborate? I'm not sure I understand how credit cards could cause goods to cost more? Unless you mean the extra charge companies add on sometimes when you pay via credit card like some online bill payment systems.

 

[tomtendo]

Could you elaborate? I'm not sure I understand how credit cards could cause goods to cost more? Unless you mean the extra charge companies add on sometimes when you pay via credit card like some online bill payment systems.

Maybe he's talking about the 3% or whatever credit cards get when a retailer sells something and the consumer uses the credit card... either way, that's not really adding much if not anything to the cost of goods.

 

[Wahlstrm]

Amex was my first credit card.
The card looked nice, but was refused at least 1/3 of the times I tried to use it.
I can´t spend €150/year on a card that just looks pretty..

Cut it in half and applied for a master card instead,
works every time, everywhere and it´s free.

Amex is just clever marketing and shiny cards..

 

[Parasprite]

Occasionally I see someone post about not using credit cards, and while I applaud the concept of “not buying what you can’t afford to pay for with cash”, I wonder how you navigate around modern life and activities? Hotels? Flights? Large purchases?

Just to be clear, I’m not being critical.

I get with certain online services, you could buy credit/gift cards and apply them (like iTunes), or back the service with a bank account (like PayPal), but there’s so many other goods and services I don’t see how you can engage with any level of convenience.

For example, we’re headed to Universal in a month or so (we’re “local” so no flight or rental car), but the onsite resort requires a CC to reserve the room in advance. Then in the room and park, if you want to convenience of room charges, that requires a CC to bill against, else you’re lugging cash around a pool and park, that’s easily lost.

Maybe they mean “rotating credit” vs. using a non-paper-money like a debit card[?]

For some regions "credit card" can also informally mean "debit card", partially because (at a glance) debit cards look the same, and partially because they are often processed in POS systems as "credit" (if you use a debit card without a PIN, it's probably being processed this way). They are both just called "credit" unless a distinction needs to be made.

 

[Sonmi451]

I only use my Amex at Costco. But I need it anyway to get into the store. Hopefully Costco can figure a way around this. Or I'll have to go in through the exit every time.

 

[alexgowers]

I'm sure amex et al approached apple once finger ID was established. It's a no brainer and is going to hopefully bring in some interesting payment options. It's just a shame it's an apple only iOS thing as that limits how it'll be adopted. I wonder if google and visa will rush out a competing system?

I'm not sure i see touch ID as a necessary corner stone to the idea though as NFC on it's own should have proliferated the idea. I suppose only iOS has those bank details and willing spenders, android users be tight wads!

 

[Patriot24]

It would be even more convieniant to make payments with the wearable device.

I suspect that is exactly where we are heading.

The only question to be answered with that approach is authentication. I doubt the wearable will ship with TouchID.

 

[69650]

I'm already using my iPhone to replace bus tickets, train tickets, hotel reservations and flight boarding passes. I do my banking using an app, listen to the radio, watch TV, etc all on my iPhone.

I'd love to get one of those door lock things when they launch in the UK. Now all I need is an app to replace my car keys and my wallet and I would genuinely only need to carry the iPhone when I go out.

If only they could put all that into a watch size iPhone I would be in heaven.

 

[captain cadet]

I hope Apple doesn't take very long to role this out further than America. Still waiting for iTunes Radio in the UK...

iTunes Radio - remind me what that is again?

 

[sycadog]

Apple wouldn't bet the farm on just Amex, folks. Think other large issuers of credit cards and distributors of point-of-sale machines. Who might they be?? VISA is a necessary component - so you can bet those agreements have been in place for a while.

 

[Parasprite]

Maybe he's talking about the 3% or whatever credit cards get when a retailer sells something and the consumer uses the credit card... either way, that's not really adding much if not anything to the cost of goods.

Even more, it's not like they charge more specifically for those customers using those specific cards (except for a blanket "no fees for cash/cheque"-type policy). In other words, the cost would get passed to the consumer whether they pay cash/Amex/cheque/etc., just more spread out.

 

[kdarling]

... It takes five seconds to take a debit card out of my wallet and swipe it. Surely it will take much longer to pull out the phone, unlock it, open the payment app, wait for the connection, and confirm the purchase.

Swiping will be going away.

You can still take out your card, but remember, in the near future with EMV you will have to stick it into a slot while the transaction takes place.

(Or just tap your card, assuming it's contactless and there's no purchase limit.)

Btw, with Android phones, you don't have to pre-open the payment app. Touching a NFC payment spot automatically opens it for your approval. But you do have to have the phone turned on and unlocked, yes.

 

[zipa]

So... The phone with a small market share partners with the credit card that has no market share.

Two turkeys shall not make an eagle, methinks.

Might very well work in the US, has zero chance of working globally.

 

[brendu]

I suspect that is exactly where we are heading.

The only question to be answered with that approach is authentication. I doubt the wearable will ship with TouchID.

I have had a pretty interesting thought on that too. What if the wearable is somehow biometrically linked to the user. That way if it were stolen it would become useless. It would make mobile payments pretty secure. (Disclaimer: I am talking out of my @$$ and have no idea what the technical feasibility of such a system would be)

 

[69650]

Could you elaborate? I'm not sure I understand how credit cards could cause goods to cost more? Unless you mean the extra charge companies add on sometimes when you pay via credit card like some online bill payment systems.

The credit card companies make a charge to the retailer every time you use your credit/debit card to buy something. That can typically be around 2% of the purchase price. To the retailer this is simply another cost they need to pass on to the customer. So yes in a sense it does lead to higher prices. I've noticed that some low value shops like Subway have started putting up cash only signs to try and avoid these additional costs.

 

[sycadog]

Apple Partnering With American Express on iPhone Mobile Payments Initiative

It's more than just Amex. Think of other large issuers and point-of-sale device distributors.

 

[ppc_michael]

I've yet to see anyone use NFC to make a purchase. Granted, I live in a relatively rural area of New England, but even in metropolitan areas I visit (Boston, NYC) are people really clamoring for this feature? It takes five seconds to take a debit card out of my wallet and swipe it. Surely it will take much longer to pull out the phone, unlock it, open the payment app, wait for the connection, and confirm the purchase.

I've been using it for several years. With Google Wallet, I have all my reward cards stored there too, so my phone is already out to scan for that. Then I just touch it to the TapToPay, and my payment is complete. It's wonderful.

 

[Stella]

Yay - AMerican Express - the card that barely any stores accept! Way to go Apple.

 

[Zxxv]

Lol what? You can easily be responsible with credit cards. It's easy actually. And I agree with the guy who you responded to, paying with credit cards is actually a smart thing to do IF YOU HAVE THE MONEY to back it up. I pay everything on my Credit Card, but I also have the money to pay it off every month. I never pay late and get interest fees added. Someone who pays with a debit card or cash is less protected than with a credit card. Why take the chance on spending your own money at the time of purchase when they can steal your numbers and go buy stuff on your behalf? It's the security you get with credit cards.

Just pay it off every month and you're golden. Simple as that.

Edit: Also, when you pay for things like a TV on a credit card... AMEX... They actually give you warranties since you paid it on your card. I had a TV break out of the 1 year warranty, and AMEX replaced it cause they covered it. A lot of nice perks like that exist.. don't ever buy store bought warranties.

well like I said... all that costs, pushes the cost of living up. Thanks for that

 

[AppleWarMachine]

I love my AMEX, great news

 

[DotCom2]

Amex was my first credit card.
The card looked nice, but was refused at least 1/3 of the times I tried to use it.
I can´t spend €150/year on a card that just looks pretty..

Cut it in half and applied for a master card instead,
works every time, everywhere and it´s free.

Amex is just clever marketing and shiny cards..

I use my AmEx to purchase all my Apple products as well as other large purchases because of the added insurance they provide.

 

[Zxxv]

Could you elaborate? I'm not sure I understand how credit cards could cause goods to cost more? Unless you mean the extra charge companies add on sometimes when you pay via credit card like some online bill payment systems.

that and all the extra insurances etc credit cards come with. It doesn't come free. Someone pays for it. That pushes everything up. Its called the credit crunch for a reason.

 

[Corrode]

In Canada, you too have the option to cut your credit cards up!!

Its not the cards that's the issue. It's the culture. Harder said than done.