NO, with the way people interact today, we don't want to be face to face, let alone just talk.
What are you thinking, rebel you?
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Apple Working on Mobile Person-to-Person Payment Service
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NO, with the way people interact today, we don't want to be face to face, let alone just talk.
What are you thinking, rebel you?
Samsung is already working on phone to phone payments. They've got everyone beat on mobile payments. But good effort from Apple.
http://www.androidauthority.com/samsung-pay-may-soon-support-phone-to-phone-payments-654143/
http://www.androidauthority.com/samsung-pay-may-soon-support-phone-to-phone-payments-654143/
Here's my take:
- Apple make money because this service increases the value in their products. More people will want an iPhone if this feature is available.
- Similarly for the banks, more people will want to invest their money in a bank that allows them to utilise these types of interactions. It's the same reason why banks created EFTPOS and built ATM machines. These services don't directly benefit the banks, but it adds value by improving the experience for their customers -- making them more enticing and separating them from their competitors.
Can't see the point of this.
Bank transfers are free and instant anyway. How would Apple make any money?
Bank transfers are free and instant anyway. How would Apple make any money?
It'll be interesting. Chase Quickpay is amazing and happens for free and instantly, no waiting days for it to arrive to the other person. Only problem is that you have to be a Chase customer
A lot of retailers really, really hate Visa and MasterCard. What if this direct transfer service is another way to neuter their opposition to enabling NFC on their terminals?
Not in the US.
It works with a few other banks too but it takes a couple of days to transfer.
Not in the US.
It works with a few other banks too but it takes a couple of days to transfer.
I love how Apple made it work!
Most banks have a similar service to send money to friends. The banks don't charge for this and ultimately save money because they are not paying a transaction cost that come from other services. Apple may just do it for free as well to build the iPhone / apple pay aspect of this
Only 1 party needs to be a Chase customer. Assuming the other party is not using a partner bank, they can set up a log in and provide their banking details for a direct deposit after verification.
Maybe, but Square is also cross-platform and does a lot more than simply accept peer to peer payments. If I can only send money to friends with iPhones, then why bother when I already use Square Cash that everyone can use?
Over here they're instant if both of you are customers of the same bank. Between banks the transfer takes a business day or two.
Every payment service like PayPal, Square, Shopify, etc takes a percentage of each transaction. That's how they make money.
Anything that takes a piece out of PayPal sounds good to me.
I emphasize 1,3, and 4 mostly. I mentioned 2 because Apple could possibly provide this service for free. But I won't hold my breath because Tim the Penny Pincher is the CEO of Apple now.
Just like FaceTime is useless/DOA because it only works on Apple devices? Just because it can't be used by 100% of the population doesn't mean those who can use it won't.
Square will get less transaction per sure, but this doesn't look to be a direct competitor.
Square is all about handling non-cash transaction (magnetic stripe, EMV, NFC) and software for managing inventory, restaurant, etc.
The key to the whole thing will be that it is built into your devices out-of-the-box. There are a lot of apps out there today that can do this, but they'll never get the share of mind that something installed by default gets.
It will be just like Apple Pay in a retail environment. People will prefer to use it, but if they have to resort to getting out a credit card they'll do what they have to. It doesn't mean they stop using Apple Pay altogether because some places don't support it.
Sorry this is a bit off topic but do you guys see your Walgreens points total on your wallet card like is pictured in this story? I have the card but never see a points total on it like I do my other cards.
As for this story, I would be happy to use my Apple Pay to send money to people. It would be great to send a few bucks when I don't have cash with me and they just paid for something on my behalf.
As for this story, I would be happy to use my Apple Pay to send money to people. It would be great to send a few bucks when I don't have cash with me and they just paid for something on my behalf.
I love how Apple did it it way better that Google had to redo theirs and rename it Android Pay.
im not an android guy but I have to give it to samsung pay .. they did a good job with it working on non nfc terminals
If Apple was able to negotiate a per transaction fee directly from the banks for Apple Pay transactions I see no reason why this wouldn't be free as well.
You can say the same for all Apple-only service and yet they're all successful. The iOS user base is huge and we're all very engaged in our phones.
Chipped cards aren't required until the end of next year and they've been proven to be no more secure than normal cards.
Apple takes a piece of every transaction too. That's their entire reason for creating Apple Pay. They get a processing fee every single time.
The 3-5 day transfer time PayPal requires isn't their fault, it's your banks and it's mandated by the US government.
Did you even read the article? The solution is from another company called Hankook NFC, which requires Samsung phones to have its module installed to work. And it's not even available yet.