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Apple Pay = No Potential?
- Thread starter VoilaiPhone
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No way MCX survives, especially with all of the people with iPhones. Who's gonna wanna go out of their way to use this when Apple Pay is baked in and is so easy and cool/fun (admittedly) to use? People trust Apple. There's no way this MCX garbage lasts very long before retailers phase it out and support Apple Pay again. It's still way to early to say what's gonna happen, but we've seen how Apple can make things more mainstream and widespread, and I don't see how why it would be any different with Apple Pay.
I would agree with you except that, to consumers, apple is highlighting the speediness over the safety. They even did so in their keynote.
You're not wrong, but I don't blame people for speaking about how wuick and convenient it is when apple was the one who brought it up.
I believe NFC will really take off when there is a law/directive that dictates all merchants to transmit ONLY ghost account numbers aspay and google wallet provides.
It only makes sense to mandate this as it should rid all of the mass frauds.
I really doubt there will ever be a law on how transactions are processed by merchants.
Its what the consumer pretty much uses the most that will gain traction and wide acceptance.
Aren't there directives now insisting on chips in cards and increased security by merchants?
I think its more of a general agreement towards a more secure standard and to start moving towards it within a year than a mandate or a law.
Apple did this because they were fully aware of CurrenC/MCX.
They didn't launch Apple Pay in a vacuum.
I never claimed they did launch it in a vacuum...
People are talking about apple pay not being faster than traditional credit cards and other are pointing out they aren't supposed to be. I'm simply stating why some got it in their heads that it would be (Apple told them so).
When I buy something from a store, I expect to give them some money and them to give me some goods. I don't see why that transaction should also include them getting free information about my spending habits and effectively monetising me.
If Apple pay stops them being able to track me then I'm all for it for that reason alone, not to mention the very dubious security some retailers employ means there is no way on earth I would want to give them direct access to my bank
If Apple pay stops them being able to track me then I'm all for it for that reason alone, not to mention the very dubious security some retailers employ means there is no way on earth I would want to give them direct access to my bank
Sigh, some people should read more and post less.
OK, I'll fill in the gaps for the people who need some help.
Apple knew all about MCX and how clumsy it will be at rollout.
Knowing this, the demo emphasized how easy it would be to pay. During the demo, they emphasized the simplicity. Now, there was no need for Apple to give MCX any publicity, so they compared it against swiping cards.
Nicely enough, everyone (including certain posters right here in this thread) remembers the simplicity involved. That idea is set in people's minds, and CurrenC is going to look like the stupid piece of trash that it is.
Same goes for the privacy aspect. Apple played up the fact that the merchant won't know who you are. With MCX, that's one of the draws from the merchant side. Absolutely no gain for the consumer there.
Apple set the stage with the demo. MCX now has a very very tough row to hoe.
OK, I'll fill in the gaps for the people who need some help.
Apple knew all about MCX and how clumsy it will be at rollout.
Knowing this, the demo emphasized how easy it would be to pay. During the demo, they emphasized the simplicity. Now, there was no need for Apple to give MCX any publicity, so they compared it against swiping cards.
Nicely enough, everyone (including certain posters right here in this thread) remembers the simplicity involved. That idea is set in people's minds, and CurrenC is going to look like the stupid piece of trash that it is.
Same goes for the privacy aspect. Apple played up the fact that the merchant won't know who you are. With MCX, that's one of the draws from the merchant side. Absolutely no gain for the consumer there.
Apple set the stage with the demo. MCX now has a very very tough row to hoe.
What I don't like is that when I try to add my card, I get the following error:
"Your issuer does not yet offer support for this card"
So I can't even add my debit card for Apple Pay...anyone else have this problem?
"Your issuer does not yet offer support for this card"
So I can't even add my debit card for Apple Pay...anyone else have this problem?
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Its not like MCX is reacting fast enough either. They said they would be releasing theirs next year, 2015.
Apple Pay be then would most no doubt have doubled in amount of retailers and banks that support it.
Plus by basically declaring war on credit card companies, they unintentionally or intentionally also declared war on Apple and Google.
I don't see their app being on either app store for very long.
Its not going to be an easy path for Apple or Google but its going to be hell for MCX.
Most of the retailers that form MCX have been hacked before, CurrentC and their method is not safe or private at all compared to Apple Pay. Most importantly though, its not as easy.
And thats the problem unfortunately. I'm not for having everything regulated by the government but some things as my CCs and all of my finances getting compromised at essentially every merchant I go to is appalling to say the least. It seems that there should be some sort of interception and requirement to ensure the security within our economy.
Biometrics wasn't mandated for mobile devices but it's such a hit and adopted by many because of the heightened security. If merchants can't come up with viable methods to protect their consumers, IMO there should be some sort of law.
And free market, which I believe in strongly, will show that the few diehard Apple Pay users will make little difference, if any. Not all iPhone users, especially iPhone 6 users are as "intense" about it as people in this forum, which represent a small minority.
The world's banking and retailers will not revolve around Apple Pay.
If you just handover cash, that is where the transaction will end and there will be no tracking (at least through the cash register); the store can still track users by picking up their WiFi signature/ Bluetooth left on.
Many stores give you a cut of the perceived "monetization" of you, the shopper, by giving a discount for using a store card or acquiescing to some form of tracking. Now, whether this is a real discount, or whether the cash spenders are getting screwed is up to everyone to decide for themselves.
Are you sure of that? Adopting a neutral position would be more credible. Just saying.
Anyway... Many of the "diehards" have considerable geeky influence in their social circles. Technology is confusing to most folks and consumer finance and identity theft are downright scary. Put them together and I think you'll find the "diehard's" friends, relatives and colleagues turn to them for guidance.
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I think it will be interesting to see what happens next October when merchants are forced to use chip and pin. That will be a different gesture than swiping, so everyone's habits will have to reset. And since chip and pin credit card will likely also include paypass and paywave, customers will likely try that more frequently (since the stripe is gone) and will likely get confused when it doesn't work.
Apple pay isn't the primary issue here. Right now it's about the merchants trying to get out of paying those CC processing fees. Banks are onboard with NFC since that is in line with their interests, merchants are mostly on board with MCX.
For customers, NFC is better. There is greater security, privacy, and we get to keep our CC benefits. CurrentC shifts liabilities to the consumer, and they also collect far more data on us than I'm comfortable with.
Personally to me this seems like the exact opposite of a free market. In a free market, both systems should be allowed to operate and people will use the one that suits their needs best. MCX is trying to prevent competition from operating at all
Apple pay isn't the primary issue here. Right now it's about the merchants trying to get out of paying those CC processing fees. Banks are onboard with NFC since that is in line with their interests, merchants are mostly on board with MCX.
For customers, NFC is better. There is greater security, privacy, and we get to keep our CC benefits. CurrentC shifts liabilities to the consumer, and they also collect far more data on us than I'm comfortable with.
Personally to me this seems like the exact opposite of a free market. In a free market, both systems should be allowed to operate and people will use the one that suits their needs best. MCX is trying to prevent competition from operating at all
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I think it will depend on what customers use. Right now apple pay is users of 6 and 6+, which regardless of them selling millions, is just a small percentage of the us. Then you have those that actually use apple pay on those devices. I'm willing to bet it's the minority of users that will actually use it for now anyway. I don't think members of macrumors actually reflect the majority of the "mass" users.
So if it becomes wide spread among users it will spread to businesses. It will take a while for the majority to evolve to apple pay devices.
So if it becomes wide spread among users it will spread to businesses. It will take a while for the majority to evolve to apple pay devices.
Most people do not give a second thought about security. Until you have had an incident most never will and will go on the way buying with what ever purchasing instrument the bank issues them.
I think you over estimate the influence of the "geeky". Like I said time will tell and Apple Pay could catch on, fail or join the many purchase instruments soon to be available.
The problem is that businesses that have the devices and are capable of accepting it are disabling the devices. So what will happen in the near term is that credit card will be used the old fashioned way. In the long term those retailers want people to use their own mobile wallet. I personally don't expect CurrentC to take off, but I also don't know if these businesses will throw in the towel early enough to allow the status quo to change
If the NFC is on, they have no choice. It just looks like a normal credit card transaction.
Data mining is the main reason. CurrenC will allow real time customer purchases to be shared among MCX members. The information can be used to target sales.
Saving the processing fees is a bonus
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