Per capita, Poland has more contactless-enabled terminals than Spain (107 in Poland vs 77 in Spain).
Source: http://www.nfcworld.com/2015/07/06/...n-visa-contactless-transactions-in-12-months/
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Apple Pay Expected to Launch in China by February 2016
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Source: http://www.nfcworld.com/2015/07/06/...n-visa-contactless-transactions-in-12-months/
This is partially confirmed via iphoneincanada blog
Signs are coming but when is the question! I hope by year end at the latest..though I'm not holding my breath.
Despite the market itself, and its potential, Apple Pay might not be able to trigger a massive revolution of NFC payment in the near future. It is more like integrating with Taobao, Tianmao and Alipay to enable in-app Apple Pay purchase.
But yeah, if Apple Pay can support public transit system payment, like what it has done in London, UK, that would be great. I hope one day I can just carry my phone to use Opal card, rather than carrying one more card with me.
But yeah, if Apple Pay can support public transit system payment, like what it has done in London, UK, that would be great. I hope one day I can just carry my phone to use Opal card, rather than carrying one more card with me.
Europe is a more capital intensive market, actually, and FYI, by number of inhabitants as well. The GDP is higher than in US. So what's your point?
I'm struggling to see how they'll gain traction with it. Sure, lots of people have iPhones... But pretty much everyone already uses Alipay - whose app is on both IOS and android, and is accepted (via qr code scanning) in a large number of places. Taobao, where a lot of money is spent online, is fully integrated with alipay (as are a few other online apps, my Walmart groceries for example) - and the app lets me confirm to pay with one tap of Touch ID already.
I can't see what benefit Apple Pay will have, beyond allowing dual currency credit cards to be registered and used on trips to the us, U.K. Etc.
[edit: being morning here, maybe I was too hasty. Payment here requires a PIN number for most cards and always also a signature. All bank cards issued in the last couple of years have contactless, but it works in a funny way in that you have to set off or top up an amount of money in the first place as a pool for the card to access, it's not like back in the uk. I think the infrastructure is there already in a lot of cities, it just isn't used. If Apple Pay can eliminate signatures then it will speed up payments in restaurants etc. but when restaurants have a single cashiers desk to go to (as most do) speed of payment is one of those things that really only helps the people behind you.]
The big win would be integrating with the various cities' transport cards as a contactless solution. If my phone could pay for my metro travel that would be a big deal to me. But that would require big changes on their part, I believe - I'm pretty sure when TfL launched contactless in London they'd had to upgrade the hardware in their Oyster card readers, it's not just a software fix.
I can't see what benefit Apple Pay will have, beyond allowing dual currency credit cards to be registered and used on trips to the us, U.K. Etc.
[edit: being morning here, maybe I was too hasty. Payment here requires a PIN number for most cards and always also a signature. All bank cards issued in the last couple of years have contactless, but it works in a funny way in that you have to set off or top up an amount of money in the first place as a pool for the card to access, it's not like back in the uk. I think the infrastructure is there already in a lot of cities, it just isn't used. If Apple Pay can eliminate signatures then it will speed up payments in restaurants etc. but when restaurants have a single cashiers desk to go to (as most do) speed of payment is one of those things that really only helps the people behind you.]
The big win would be integrating with the various cities' transport cards as a contactless solution. If my phone could pay for my metro travel that would be a big deal to me. But that would require big changes on their part, I believe - I'm pretty sure when TfL launched contactless in London they'd had to upgrade the hardware in their Oyster card readers, it's not just a software fix.
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Yeah. Screw people who are in the countries where most iPhones are sold. More logical I guess?
the rumours have been going around that long.
the problem is the regulation and market conditions. apple only really had to bring on one of visa and mastercard and the other would give in - bingo, you have your entry point to market and can begin discussions with banks in western countries e.g. the US and UK
china unionpay is owned by the state, i believe, as are many of the banks.
More like Apple is the one holding it up for their request of a big cut from the transaction fee.
But Europe doesn't buy as many iPhones as other markets. So Europe can just sit down and wait.
0.15 for every $100 is a big cut?
how much of that $100 do the bank get now? it's not 0.15 of every $100 thats the "problem", it's 0.15 of whatever the bank take... the average "interchange fee" is 1.79% and some of that goes to visa or mastercard.
so the bank get somewhere around $1.50 per $100. apple wants 10% of that... if i offered to come and error check your work for 10% of your wages, would you say yes?
It really depends on what country you're talking about.
In the states, credit card companies pay a heck of a lot more than that just in rewards dollars to me.
In China, sure they make less money per transaction, but it shouldn't be Apple's problem... the government should mandate higher interchange fees, not lower ones.
0.15 for every $100 is a big cut?
In some countries, it's a HUGE cut.
For example, contactless fees in many EU countries such as France are only around 0.22%. The UK, which might be capping theirs soon the same way, is currently 0.65%. Either way, giving Apple 0.15% is impossible to support.
In Canada, the debit card fee is $0.006 (6/10ths of a penny) per transaction. In the US, Apple demands 1/2 cent per debit transaction, or what would be almost the entire Canadian fee.
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And that's just the tip of the Apple Pay iceberg. Banks also have to pay Visa/MC etc for tokenization services per transaction. For example, MC charges $0.50 for provisioning a token, and $0.025 per token API call.
The banks also have to hire extra help centers for Apple Pay.
Moreover, they have to give Apple constant reports about purchase types and places... information that was formerly proprietary.
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At least MC and the banks are providing servers and services and comms and fraud handling to earn their per-transaction fee.
OTOH, Apple itself has no such costs during a transaction, since they only provide the device (which they already made a huge profit on). The fee is basically a charge for access to their users (a classic the-customer-is-the-product scenario).
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You also have to remember one size doesn't fit all...
$0.15 of every $100 in the United States isn't the same as in other countries... Every country's currency holds a different value.
i'm talking about the US. https://en.wikipedia.org/wiki/Interchange_fee - the average interchange fee is 1.79%. Obviously this will be higher for credit cards, and lower for debit cards. Hence why banks are even less keen to come aboard (the credit card companies, conversely, probably think it's a pretty good deal because of their liabilities in case of fraud etc)
that last statement is ridiculous. either every merchant in the country should make less profit and funnel it to apple, or everyone should pay more money for things - again funneled to apple? what planet do you live on?
what does that even mean? if you're saying $0.15 of every $100 you're referring to a cut of 0.15% (not a flat fee)
so that's 1.5RMB of every 1000 RMB, 15 JPY of every 10000 JPY, 0.15HKD of every 100HKD and so on...
It means 0.15% of 100 yen is actually 0.001 US Dollars, and so on.
Right. You said $0.15 of every $100 holds a different value in every currency.
That's wrong. It holds the same value of 0.15%... The transaction size will change according to the value of the currency also.