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Apple Pay = No Potential?

V

VoilaiPhone

macrumors regular
Original poster
Sep 19, 2014
146
56
I think it's too early to say this but i think the potential of apple pay has been diminishing.

Major retailers are trying to avoid credit card transaction fees by creating their own payment processors, which allows them to directly access the funds of the customers.

Apple pay is basically a simplied version of credit cards

There is literally no chance that all small businesses will adopt NFC terminals.

What do you guys think?
 
I think it's way too soon to predict anything. I also think that consumers need to educate themselves about all these different payment methods and what they really mean, from a security and privacy standpoint.
 
greytmom said:
I think it's way too soon to predict anything. I also think that consumers need to educate themselves about all these different payment methods and what they really mean, from a security and privacy standpoint.
Click to expand...

Agreed. It is way too soon to make any sort of predictions concerning :apple: pay.
 
  1. Alot of retailers are deciding to not accept it.
  2. Customers are becoming frustrated.
  3. Everyone and their moms are trying to create their own payment system.
  4. Ultimately they'll all fail and people will continue using cash/swiping their credit card.
 
VoilaiPhone said:
I think it's too early to say this but i think the potential of apple pay has been diminishing.

Major retailers are trying to avoid credit card transaction fees by creating their own payment processors, which allows them to directly access the funds of the customers.

Apple pay is basically a simplied version of credit cards

There is literally no chance that all small businesses will adopt NFC terminals.

What do you guys think?
Click to expand...
Disagree.

Oct 2015 sees liability shift to retailers if they are still restricted to swipe vs higher form of EMV technology. EMV chip or EMV NFC.

Retailers will be upgrading terminals to support at least chip, and a large majority of new chip terminals, also have NFC baked in.

The hardware is coming at a rapid pace, even if there is evidence in the case of riteaid/cvs that the nfc functionality can be disabled, forcing chip use.

Americans are too tied to their overspending, dept, and credit cards to ditch on visa/mastercard/amex... To switch to tieing their checking account to the MCX system. Its dead on arrival.
 
Apple allows future iPads to transact payments made with Apple Pay.

For small businesses, instead of buying a new expensive NFC-eqiupped terminal, they buy an iPad and it just works.

https://forums.macrumors.com/threads/1809355/

I want to see Apple make the iPad a game changer.

----------
Menel said:
Americans are too tied to their overspending, dept, and credit cards to ditch on visa/mastercard/amex... To switch to tieing their checking account to the MCX system. Its dead on arrival.
Click to expand...

Not to mention there is no way Apple, Google, or Amazon will support CurrentC.

They'll probably deny it as soon as its submitted to their respective App Stores.
 
VoilaiPhone said:
I think it's too early to say this but i think the potential of apple pay has been diminishing.

Major retailers are trying to avoid credit card transaction fees by creating their own payment processors, which allows them to directly access the funds of the customers.

Apple pay is basically a simplied version of credit cards

There is literally no chance that all small businesses will adopt NFC terminals.

What do you guys think?
Click to expand...

Actually, in the US, aren't all retailers supposed to accept contactless payments by next October or else banks will be exempt from all cases of fraud and the fees will fall on the retailer?
 
Menel said:
Disagree.

Oct 2015 sees liability shift to retailers if they are still restricted to swipe vs higher form of EMV technology. EMV chip or EMV NFC.

Retailers will be upgrading terminals to support at least chip, and a large majority of new chip terminals, also have NFC baked in.

The hardware is coming at a rapid pace, even if there is evidence in the case of riteaid/cvs that the nfc functionality can be disabled, forcing chip use.

Americans are too tied to their overspending, dept, and credit cards to ditch on visa/mastercard/amex... To switch to tieing their checking account to the MCX system. Its dead on arrival.
Click to expand...

I agree with every word here. And no one who has been hit with identity theft is going to feel comfortable with linking merchants directly to their checking accounts.
 
Noble Actual said:
Apple allows future iPads to transact payments made with Apple Pay.

For small businesses, instead of buying a new expensive NFC-eqiupped terminal, they buy an iPad and it just works.

https://forums.macrumors.com/threads/1809355/

I want to see Apple make the iPad a game changer.

----------



Not to mention there is no way Apple, Google, or Amazon will support CurrentC.

They'll probably deny it as soon as its submitted to their respective App Stores.
Click to expand...

Current C is actually available on app store.
 
greytmom said:
I agree with every word here. And no one who has been hit with identity theft is going to feel comfortable with linking merchants directly to their checking accounts.
Click to expand...

I haven't been hit with identity theft and I still wouldn't link any of my accounts to merchants directly because I don't trust their terrible security implementations.
 
MacTCE said:
I haven't been hit with identity theft and I still wouldn't link any of my accounts to merchants directly because I don't trust their terrible security implementations.
Click to expand...

Yet Target is participating in MCX program. Target sure as heck didn't learn lessons from its previous ordeal.
 
VoilaiPhone said:
Yet Target is participating in MCX program. Target sure as heck didn't learn lessons from its previous ordeal.
Click to expand...

Good, because Target going to get hacked again in the near future and since I never stored my cc info in them, they will most likely to that sale thing again and apologize and I'll just buy some stuff on discount using their app which supports Apple Pay.
 
I'm sure Google will come out with a revamped Wallet next spring that's more like :apple:Pay. Retailers won't be able to resist both of them, else they'll pull the plug on competing apps in the app/play stores.
 
617aircav said:
Apple pay is cool, I've used it twice. But it's not quicker than using my credit card.
Click to expand...


Check your receipt from the store and look at the last 4 digits of the card number. Recognize them? Neither did I when I used mine at ToysRus today. Say that ToysRus has a data breach and they steal all the CC numbers used today. Well they will get my Apple ID number and not my CC number which is useless.

That's the security Apple Pay provides, Google Wallet works similarly by masking the card numbers used... And it was much quicker. I never pulled out my wallet, just pulled the phone out had my finger on TouchID (never woke it) and paid.

That other system works by actually making your data less secure. When Target had its data breach they stole CC numbers. CC numbers. As terrible as it is, CC numbers can be replaced with little to no effort, CC numbers can also be canceled.. Again with little to no effort. However, these new systems want your bank information. Your bank information is NOT secure. If I have your bank account number (and thereby your routing number which is simple, universal and easily available online) I don't need another single piece of identification to steal every dime you've got. Target, Best Buy, WalMart all want to have your banking information to directly take the funds.

I wish more exposé was done in mass media in light of Home Depot and Target proving they do not have sufficient security to have banking information.

Basically we stand at a crossroads where Banks (NFC backing) are facing off against Big Corporations (New QR Code System)...

For me the decision is easy. A dummy number that is useless being used, or providing irreplaceable account information directly.
 
sviato said:
I'm sure Google will come out with a revamped Wallet next spring that's more like :apple:Pay. Retailers won't be able to resist both of them, else they'll pull the plug on competing apps in the app/play stores.
Click to expand...

I'm not so sure about this, to be honest. If big retailers dig in their heels then it's going to deal a pretty big blow to Apple pay (and another one to Google Wallet) and the interest will be DOA. People will just continue to use what they've always used because it works, and Apple and Google will be on shaky ground if they try and pull apps just because it competes with their own services. Google doesn't normally do this, for one, and Apple could be viewed as trying to force people onto their own system.
 
Altimax98 said:
That other system works by actually making your data less secure. When Target had its data breach they stole CC numbers. CC numbers. As terrible as it is, CC numbers can be replaced with little to no effort, CC numbers can also be canceled.. Again with little to no effort. However, these new systems want your bank information. Your bank information is NOT secure. If I have your bank account number (and thereby your routing number which is simple, universal and easily available online) I don't need another single piece of identification to steal every dime you've got. Target, Best Buy, WalMart all want to have your banking information to directly take the funds.
Click to expand...

Let's also mention that if those stores do a false charge on you or you want to do a chargeback cause you feel they did not give you what you paid for and they refuse to agree, you have no protection whatsoever. They already have your money and you don't have near the protections you do with a credit card that will go to bat for you.
 
Altimax98 said:
Well they will get my Apple ID number and not my CC number which is useless.

That's the security Apple Pay provides, Google Wallet works similarly by masking the card numbers used... And it was much quicker. I never pulled out my wallet, just pulled the phone out had my finger on TouchID (never woke it) and paid.
Click to expand...

Technically it is not your Apple ID number. It is a tokenized number of the PAN for your credit card.

http://en.wikipedia.org/wiki/Tokenization_(data_security)
 
Its pretty crappy that instead of making it easy for the end consumer/customer to make purchases at their stores now they start removing the nfc payments so they can instead impose their own other payment system.
Why not make it available instead of sabotaging the other payment method and let the market decide what they like to use or works best.
So you know what, I'll go to those merchants that make it easier for me and more secure and use Applepay instead.
So take this cvs, I'll pick up things that I need at walgreens instead from now on.
 
The problem is not that retailers are building their own payment system to avoid charges - they want to store customer information and understand trends.

That is the major reason they don't like Apple Pay.
 
sau124 said:
The problem is not that retailers are building their own payment system to avoid charges - they want to store customer information and understand trends.

That is the major reason they don't like Apple Pay.
Click to expand...

Except, of course, they already have all the data they actually need to see trends.

They're just greedy for more, more, more.
 
Menel said:
Disagree.

Oct 2015 sees liability shift to retailers if they are still restricted to swipe vs higher form of EMV technology. EMV chip or EMV NFC.

Retailers will be upgrading terminals to support at least chip, and a large majority of new chip terminals, also have NFC baked in.

The hardware is coming at a rapid pace, even if there is evidence in the case of riteaid/cvs that the nfc functionality can be disabled, forcing chip use.

Americans are too tied to their overspending, dept, and credit cards to ditch on visa/mastercard/amex... To switch to tieing their checking account to the MCX system. Its dead on arrival.
Click to expand...


^^^This^^^

Just because Apple came out with Apple Pay does not mean the retailers are going to jump. It will take some time and a little prodding by the banks with the new credit laws coming into effect in 2015.

You just need to be patient. All this "I am not going to shop here" or "I will only shop here" is just ridiculous! Most people who own and iPhone even a iPhone 6 could care less, you people are forgetting that the forums users here, are not representative of the majority of Apple users. Just a small minority.
 
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