Apple Not Worried About Apple Pay's Slow Adoption, Believes on Path to Replace Cash and Cards

[stlblufan]

I am a 20 year veteran of Wall Street. I am now part of a startup that is functionally disrupting Wall Street. Among other things, to use our service, you have to provide your SSN to us online. Unsuprisingly, our user base is therefore made up primarily of Millenials, followed by Gen X. The U.S. is demographically dominated by the baby boomer generation, and continues to get older. As the money flows downhill and as the demographics trend away from the baby boomer generation--which will necessarily happen over time--Apple Pay and similar solutions are a no-brainer.

 

[nottorp]

Hmm annoyance question: do you have to keep your phone locked via passcode or fingerprint to be able to use apple pay? Or can you set that up so it's required just for the payment, not for unlocking your phone?

 

[InuNacho]

I love using Apple Pay. I get ticked off when a retailer still doesn't have a contactless pay terminal installed. Like, really?!?! Holy ****, it's 2017!

I bet you go ballistic when you realize that the vending machine you're trying to use only takes metal circles and pieces of paper.

 

[lordofthereef]

Replace cash? K

 

[Mtmspa]

Use it where I can. I love it and have gotten many friends (and cashiers!) to use it.

Same here. Was at a restaurant that was using square and I had to show them how to do it. Used it twice today. I am using my iPhone more than my watch now, except for vending macines.
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I bet you go ballistic when you realize that the vending machine you're trying to use only takes metal circles and pieces of paper.

I only use vending machines that take Apple Pay.

 

[Flight Plan]

I use Apple Pay and I ask every cashier and business owner if they take it.

Apple Pay even works in some vending machines. I love it!

 

[Col4bin]

Still haven't taken the time to set this up on my iPhone just yet. Assuming most local retailers are now accepting Apple Pay, should at least give it a shot. Any drawbacks that people are experiencing?

 

[Jimrod]

Contactless payment is not the future; lose your iPhone and without credit cards, you are stranded.

It's much easier to whip out a credit card.

Having said that I use Apple Pay at times.

Here in the developed world our cards are contactless too. It's just the US that seems to have a fascination with swiping things... All this retailer acceptance doesn't exist in the UK either, all the contactless terminals just work and they're everywhere!

 

[Nevaborn]

In the U.K. Apple Pay works really well and I use it in every shop I go in for a purchase of £30 or under. So much quicker than cards.

 

[I7guy]

I use Apple Pay and I ask every cashier and business owner if they take it.

Apple Pay even works in some vending machines. I love it!

Where I work the vending machines take Apple Pay as well. That's kind of cool.

 

[Radon87000]

I can swipe my credit card faster than you can get your phone to pair.. And if I drop the credit card, no damage.

By the time you pull out your wallet,take out your credit card and swipe, my phone has already paired and I am on my way. As a bonus I don't have to worry about forgetting my wallet or fiddling with it. If I drop a Nokia 3310 nothing will happen to the phone while an iPhone will shatter. Does that imply smartphones aren't the future?

As far as Samsung pay, it's based on outdated technology.

You can call it whatever you want. Everyone around the world uses swipe machines so Samsung Pay has a huge leg up over Apple Pay. The most secure technology in the world isn't worth a dime if the thing doesn't even exist. Buying Loop was a brilliant move by Samsung and they one upped Apple on that.

 

[Easttime]

Apple Watch/Apple Pay: So much more convenient and faster than fumbling around fishing out and using a card.

 

[Ian Howlett]

Most of the time it doesn't even work with my iPhone 6 (here in the UK), so I gave up with it.

 

[doelcm82]

I love using Apple Pay. I get ticked off when a retailer still doesn't have a contactless pay terminal installed. Like, really?!?! Holy ****, it's 2017!

I'm not concerned about existing businesses, but when you see a business go from vacant lot to brand new building and you visit during grand opening and still they want to swipe the magnetic stripe (you can't even do it yourself)...!

 

[jaymie1983]

Pure arrogance, it'll never replace cash or cards, I don't always want to take my phone out with me & don't want/need an Apple Watch.

 

[I7guy]

By the time you pull out your wallet,take out your credit card and swipe, my phone has already paired and I am on my way. As a bonus I don't have to worry about forgetting my wallet or fiddling with it. If I drop a Nokia 3310 nothing will happen to the phone while an iPhone will shatter. Does that imply smartphones aren't the future?

Good luck paying with your Nokia.

You can call it whatever you want. Everyone around the world uses swipe machines so Samsung Pay has a huge leg up over Apple Pay. The most secure technology in the world isn't worth a dime if the thing doesn't even exist. Buying Loop was a brilliant move by Samsung and they one upped Apple on that.

My credit card is 100% compatible and will not be outdated as loop, which can't even be used in some places I shop.

 

[stanman64]

Works great in the UK, nearly all shops now have contactless which accept Apple Pay by default.

I wish this was the case here in the US. Contactless-equipped payment terminals are spotty and compatibility is all over the place.
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Still haven't taken the time to set this up on my iPhone just yet. Assuming most local retailers are now accepting Apple Pay, should at least give it a shot. Any drawbacks that people are experiencing?

Only drawbacks I have encountered are availability and that some places still require you to sign and/or check a couple boxes on the touchscreen. So annoying. But other than, works like a charm.

 

[jon81uk]

In the U.K. Apple Pay works really well and I use it in every shop I go in for a purchase of £30 or under. So much quicker than cards.

and more and more places over here are taking Apple Pay for over £30 too.

 

[827538]

I'm in the UK and use it nearly every day and in nearly every place I buy things at. My friends and family use it a lot too.

But when I was in Florida and Texas I didn't see one place to use it. Just everyone complaining about Chip and Pin. Really felt the US was well behind the UK banking wise.

 

[gaximus]

Just had too many bad experiences. I'm going to wait until I see other people using it frequently before I bother with it.

That's how I switched to using my phone for airline tickets; once I saw multiple people per flight using it then I knew it worked smoothly. That took a couple of years too.

We're not there yet with Apple Pay. Over the last 2 years I've seen other people use it 3 or 4 times, total.

It takes have a second to see if it works. quicker than pulling out a card, especially chip cards.

That seems really petty

How so? I also don't shop at places that only take cash, because I don't like to carry cash. Is that also petty?

 

[ryanwarsaw]

I don't see Apple Pay becoming mainstream in Canada; we already have widespread NFC payment systems, and most people are perfectly content with them -- warts and all.

Also, if Apple Pay is to ever become mainstream, it needs to be the default method for purchasing nominal, everyday items. Call me crazy, but I don't think it's sensible to purchase a $2 item using a $1k iPhone -- that's the height of douchebaggery.

Yeah it is much better to pay for a $2 item using a hundred dollar bill.

 

[BlargKing]

How is the phone platform with only 12-15% market share supposed to replace cash and cards? Even if Apple Pay was accepted everywhere, there would still be the 85-88% of people who don't use an iPhone who need a way to pay.

 

[M.PaulCezanne]

Love Apple Pay.
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I don't use it, mostly because it tends to be easier to use my credit card.

Easier than holding your iPhone with your thumb on the home button for 2 seconds?

 

[brianvictor7]

i love how people LOVE to share how great it is - the reality is very very few people use it including myself.

shoot so many people don't even have it set up on their iphones.

I love using it! I'd much rather use it than a card. Cards get bent out of shape, can get lost, etc. Problem is, not everyone has adopted it yet.

 

[okwhatev]

I can't wait for a day when your phone is all you have to take with you when you leave the house - replacing your house keys, car keys, and wallet. Apple Pay is MUCH faster than chip readers but it's hit or miss whether it's accepted.

You just described SamsungPay. I was waiting to have Apple reverse engineer the MST technology Samsung bought so they could update Apple Pay to work with all credit card systems, but alas, it never happened. Apple seriously, seriously dropped the ball on not having MST technology in place for ApplePay at launch. Replace the wallet in the US market with NFC? What a joke. Here's hoping they're still working on a MST solution.