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Apple Pay Responsible for 1% of Digital Payment Dollars in November, Most Popular at Whole Foods
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TouchID is neither a signature nor a card PIN replacement.
It is a convenient shortcut for the phone unlock PIN.
The fingerprint sensor hasn't verified anything, except that it matched the last person with access to the phone and its unlock PIN, who registered a finger.
If they wanted to be super secure, they'd ask for photo id... as well as an instant photo of the purchaser that could be stored to prove a match
But that's not their goal. The goal is speedy checkouts, which encourage more buying, and that's how everyone makes money.
Moreover, if it was totally secure and payment was assured, then there'd be no need for banks to charge fees. But again, such perfection is definitely not their purpose in life. The CC companies exist to charge for mitigating the risk of payment.
You were not verified with a fingerprint that was stored on the phone, because the merchant... just as with your signature example... did not compare the fingerprint to your actual finger.
There is a coming standard for fingerprint authentication for EMV payments, but it would require the fingerprint to be taken at a bank and stored with your other account info at the bank. Any print authentication would be compared to the data on file. That's the only way to be sure the finger on the device sensor at the time of purchase is really yours.
Do you see the difference? An on-device fingerprint can be changed by anyone who steals your phone and knows your PIN, ergo it is only as secure as your device PIN. That's why Google Wallet and the Apple Watch only need a device PIN to activate the purchase app.
TouchID is more about making spending convenient, while making the user feel more secure.
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Already 1% after only the 3rd month and while it only supports US-emitted credit cards?
Honestly, this is a great stat. I can't wait until it supports their neighbours at the north cause, well, this is where I live Makes another good reason to wait for the iPhone 6S.
Honestly, this is a great stat. I can't wait until it supports their neighbours at the north cause, well, this is where I live
Makes another good reason to wait for the iPhone 6S.
If that were true then it would not be required to complete an Apple Pay transaction.
Another tidbit from the report:
"Upon adoption of Apple Pay, the average consumer uses the service for approximately 5.3% of all future card transactions and 2.3% of all future card dollars spent."
(I.e. after getting it, people use Apple Pay for about one out of twenty transactions, and about 1/40th of their total dollar amount.)
The good news for stores, then, is that people do continue to make lots of purchases at non-Apple Pay merchants.
Hmm. I'd like to see a survey of how many AP purchases were made by choosing one store over another, because the former supported AP.
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TouchID is not required for an Apple Pay transaction using the Apple Watch.
Heck, the iPhone 5 doesn't even have the TouchID sensor at all, and it'll still work with Apple Pay through the Watch.
"Upon adoption of Apple Pay, the average consumer uses the service for approximately 5.3% of all future card transactions and 2.3% of all future card dollars spent."
(I.e. after getting it, people use Apple Pay for about one out of twenty transactions, and about 1/40th of their total dollar amount.)
The good news for stores, then, is that people do continue to make lots of purchases at non-Apple Pay merchants.
Hmm. I'd like to see a survey of how many AP purchases were made by choosing one store over another, because the former supported AP.
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TouchID is not required for an Apple Pay transaction using the Apple Watch.
Heck, the iPhone 5 doesn't even have the TouchID sensor at all, and it'll still work with Apple Pay through the Watch.
If you only have a phone then it is required and actually is more accurate than any signature.
Dont get it, paying with contactless card must be as fast as paying with apple pay...
You can turn off Touch ID for Apple Pay and use the passcode when paying. Kdarling is right, it's just a shortcut for convenience that replaces the passcode. Since the merchants (fortunately) have no database of fingerprints, the print cannot be used to verify your identity.
For me, Apple Pay, Chase and Whole Foods DO NOT WORK.
https://forums.macrumors.com/showthread.php?p=20509405&posted=1#post20509405
https://forums.macrumors.com/showthread.php?p=20509405&posted=1#post20509405
Better quality = more money
Whole Foods quality of food is a lot better. Hence the extra money.
If you want good quality food, you pay a premium.
Same with Apple products over anyone else. you pay a premium, but get a way better product.
Whole Foods quality of food is a lot better. Hence the extra money.
If you want good quality food, you pay a premium.
Same with Apple products over anyone else. you pay a premium, but get a way better product.
I do. With my Paypal Business debit card which I've used for years. It has also been my card for Apple's iTunes Store for years. It's issued by The Bancorp Bank which also issues my Simple.com card (the newest, innovative Start-up bank, with no fees!) and yet, neither of my cards are allowed on ApplePay.
Being that Paypal makes up most digital transactions, and many of us have Paypal debit cards, it is foolish of Apple to not allow this as part of their ApplePay, especially when they allow it on their iTunes Stores!
I closed both my WellsFargo and Bank of America accounts years ago due to the continuing rising cost of their fees (I had "free" checking with both of those banks, which charged me over $8-$15 a month for doing nothing other than having a "free" account! WTF!?)
NFC in general still isn't going to be all that popular here. Well, not until some data breach happens where the company in question says something to the effect of "Our Apple Pay customers were not affected"
Actually it will. From what I understand, the government will start charging fines by the end of 2015 to Retailers who had data loss or credit card theft due to not using NFC payments. So all card companies and retailers in the U.S. will be transitioning over to NFC throughout 2015 anyway. Apple knew this, and they were smart implementing ApplePay now.
I just wish I could use it on my shiny new iPhone 6...
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I know. What's to like? A wide selection of food from inexpensive to foreign to gourmet. Prices competitive with the regular grocery stores. Fish, meat, cheese, produce and bakery sections that put other grocery stores to shame. Rarely a line to wait in. And the employees are always courteous and knowledgeable. What a crock!
I was in shock when I saw this. I have been fortunate enough to live near a Wegmans and have never met anybody else in the same position that did not think it is the greatest grocery store that ever existed.
Actually it will. From what I understand, the government will start charging fines by the end of 2015 to Retailers who had data loss or credit card theft due to not using NFC payments. So all card companies and retailers in the U.S. will be transitioning over to NFC throughout 2015 anyway. Apple knew this, and they were smart implementing ApplePay now.
I just wish I could use it on my shiny new iPhone 6...
Chip and signature is not the same as NFC. It is completely possible that American consumers won't actually think of the former as much of a hassle and not bother with the latter as a result. For instance, swiping my card at Target is already incredibly fast and chip will probably only add a second or two.
The main advantage of Apple Pay is security, another thing that consumers haven't really shown to care much about. I don't have a link on me, but there was something earlier about how the Target, etc. breaches didn't affect credit card use much at all.
I've yet to come across a Sainsbury's in London that has one. And that's where i do 99% of my shopping...
You can, actually. They are trying to establish their own in-store payment system:
https://www.paypal.com/webapps/mpp/pay-in-stores
However, I think the article is referring to all forms of digital payments, including both online and in-store ones (and remember that Apple Pay can also be used for online payments in apps).
I guess that will change if and when the £20 limit is removed, as virtually everyone passing through a supermarket checkout spends more than that, there's no incentive to have an NFC reader there.
Thanks for the link. I was wondering why they were comparing disproportionally online (Paypal) to a mixture of online and in-store purchases (Apple Pay). Seems like comparing apples to oranges.
That is just so silly
.It's become sort of an after thought to me just because I've gotten rejected enough times for me not to even bother anymore. It'll still take some time before vendors roll this out in all of their stores. Until then, I can't see it getting much more than the 1% marketshare mentioned here.
Hmm, for 6 months maybe, then the growth rate will tail off
At first I thought this was a negative comment, but of course it isn't at all. Anyone care to pay me a penny today and then double the amount every day for the next month? It sure would be nice to retire early .
Anyone know when / if Discover will be coming to the Apple Pay party? That tends to be our go-to card with the cash back. They were supposed to be in discussions early on but last I heard they are playing wait-and-see.