Apple's Jennifer Bailey Says Customers Are Willing to Switch Banks to Use Apple Pay

[kruegdude]

Ok, I'll just say it... that is incredibly stupid. If the bank is serving your financial needs well, why would you switch to another bank just so you can use some mobile payment system. If it's there, great. If not, just swipe the card and move on. Don't be pretensions douche bag. Before you all fly off the wheel, let's make it clear that this is just my opinion.

[...snip...].

A douche bag laced opinion?

Apple Pay is more about the security of the transaction, although the convenience is pretty big too. That, in my mind, is serving my financial needs too.

 

[Seoras]

What you really mean is "successful".
You just used "arrogant" because it's not the platform & vendor you choose to support.

Apple is really that arrogant.

 

[69Mustang]

This isn't a Schrodinger problem, what she said "Some customers will say they are happy to switch banks to use it." is a true statement if at least 2 customers say that, and more then that have. So the statement is true, regardless of who "opens the box"

No, this is what she said:

Apple Pay vice president Jennifer Bailey believes that Apple Pay is valuable enough that "customers will say they are happy to switch banks to use it."

She didn't say "some". I added the "some". That's why I said "This is what she should have said"

 

[Justinb51]

I use Apple Pay whenever it is available, glad my bank uses it. However I would not switch banks for it.

 

[DEMinSoCAL]

A douche bag laced opinion?

Apple Pay is more about the security of the transaction, although the convenience is pretty big too. That, in my mind, is serving my financial needs too.

I've NEVER ONCE used Apple Pay for the added security of the transaction, and I'm pretty sure many (if not most) don't put that at the top of their list why they use Apple Pay. It's about convenience (laziness). The fact of the matter is that most of the younger generation already have their iPhone in their hands 7/24, so it's more inconvenient (easier) to put it down and get out a credit card than just tap the payment machine.

As a "non-younger generation" my iPhone is in my back pocket when buying or ordering, so it's just as easy to whip out my wallet and CC than to screw around trying to get Apple Pay to work.

 

[citysnaps]

I've NEVER ONCE used Apple Pay for the added security of the transaction, and I'm pretty sure many (if not most) don't put that at the top of their list why they use Apple Pay. It's about convenience (laziness). The fact of the matter is that most of the younger generation already have their iPhone in their hands 7/24, so it's more inconvenient (easier) to put it down and get out a credit card than just tap the payment machine.

As a "non-younger generation" my iPhone is in my back pocket when buying or ordering, so it's just as easy to whip out my wallet and CC than to screw around trying to get Apple Pay to work.

"I've NEVER ONCE used Apple Pay for the added security of the transaction, and I'm pretty sure many (if not most) don't put that at the top of their list why they use Apple Pay."

It's certainly at the top of my list. And if you've been keeping up on the subject here since Apple Pay was released, it's the same for many others as well.

 

[tmiw]

Anyway, I'm getting the feeling while reading this thread that there are a ton of people here who are pessimistic as hell about anything Apple-related. To me, people being willing to switch banks is a good thing as it means that Apple Pay is a desired feature. Maybe it's not all that many people in the grand scheme of things but still.

 

[GaryMumford]

I never changed bank because my bank supported ApplePay from very early on, as does my credit card. I use it all the time whenever I can. It's so simple. I can't see a reason not to use it. It's great for my grocery shopping, especially as Aldi do not put a £30 spend limit on the transaction like some merchants do here in the U.K. So yeah, if my bank or credit card provider stopped using ApplePay, I'd change.

 

[DEMinSoCAL]

"I've NEVER ONCE used Apple Pay for the added security of the transaction, and I'm pretty sure many (if not most) don't put that at the top of their list why they use Apple Pay."

It's certainly at the top of my list. And if you've been keeping up on the subject here since Apple Pay was released, it's the same for many others as well.

Exactly how much more secure is Apple pay than just sticking my EMV-chip enabled card into a terminal right in front of me to complete a completely secure encrypted transaction? The day that the waiter or waitress comes to my table with a wireless terminal so I can complete the transaction completely at the table with my CC in my sight instead of handing my CC to them and have them disappear with my CC for minutes at a time is when I'll think about Apple pay. Until then, you are COMPLETELY AT RISK every time you eat at a restaurant, and that basically nullifies whatever security you think you're getting from Apple Pay. Weakest link...

 

[iMi]

A douche bag laced opinion?

Apple Pay is more about the security of the transaction, although the convenience is pretty big too. That, in my mind, is serving my financial needs too.

That is true. But then again, most modern cards employ the magical "chip" that supposed to be more secure. And which has been one of the most poorly implemented technology to date. Some stores use them, some don't, and either way you get dirty looks when you swipe but should have inserted or when you inserted but should have swiped. So, I guess maybe you're right.

Damn it. I have to go look for a new bank. See you soon!

 

[DEMinSoCAL]

That is true. But then again, most modern cards employ the magical "chip" that supposed to be more secure. And which has been one of the most poorly implemented technology to date. Some stores use them, some don't, and either way you get dirty looks when you swipe but should have inserted or when you inserted but should have swiped. So, I guess maybe you're right.

Damn it. I have to go look for a new bank. See you soon!

I believe you get the same dirty looks (but maybe by the people in line behind you) when you're fiddling with your phone trying to get Apple Pay to work, only to find out the terminal doesn't take Apple Pay or it isn't working that day.

The facts are, the whole system--swiping, inserting, tapping, holding, whatever, is full of issues. None are perfect. I simply ask the cashier "chip or swipe?" and it's a done deal.

 

[nextuser]

People who like Apple Pay don't seem to value their freedom.

Apple Pay == loss of freedom

Cash is king if you value your freedom.

 

[citysnaps]

Exactly how much more secure is Apple pay than just sticking my EMV-chip enabled card into a terminal right in front of me to complete a completely secure encrypted transaction? The day that the waiter or waitress comes to my table with a wireless terminal so I can complete the transaction completely at the table with my CC in my sight instead of handing my CC to them and have them disappear with my CC for minutes at a time is when I'll think about Apple pay. Until then, you are COMPLETELY AT RISK every time you eat at a restaurant, and that basically nullifies whatever security you think you're getting from Apple Pay. Weakest link...

ApplePay is based upon a tokenized system where credit card details (name, number, etc) are never transmitted to the merchant's/bank's server. The transaction is anonymous to the merchant and their bank. And my credit card number is not stored in my phone.

Chip enabled card transactions, for reasons I don't understand, take forever to process. With ApplePay it's around two seconds. I'll always pay with my phone if that option is available. It's just more convenient.

With respect to my credit cards, they never leave my hands. At restaurants where handing a card to a waiter is the norm, I simply pay with cash.

 

[finchna]

I guess I don't remember how I set up Apple Pay but I thought it was with a credit card. While I understand that credit cards are bank affiliated I don't think that I'm switching banks if a change to a different credit card. So I'd think of this as much easier -- that people will switch credit cards or open an new credit card account for Apple Pay. It may have nothing to do with the bank or savings where you keep your funds.

 

[BeforeTheMeds]

B*tch please, I'd switch countries to use Apple Pay ):
Why no support for Mexico? (TV app, Apple Pay, Nearby in Maps, News app, etc)

The last I read was only 6% of the people here use apple products, that's ANY apple product and more ore than half of the people do not have bank accounts.

So the obvious answer would be to give decent support they would expect people to actually buy apple products and to have a bank account (apple pay). I have apple pay set up to use when I visit the us.

http://www.worldbank.org/en/news/fe...n-half-of-households-do-not-have-bank-account

 

[now i see it]

Profound.

Since for some oppressive reason MR mods won't let us delete posts (though other forums on other websites using the exact same XenForo forum software do..) The only way to delete an obnoxious post is to fill it with nothing.
So my ❌ is my nothing.

 

[OneZweiThree]

On an unrelated note, I like your use of the Walken comma!

[doublepost=1486757796][/doublepost]Yea, that's because AP is amazing!

Which ones are wrong in my sentence? As you can probably tell, English isn't my first language. so to make the sentences easier to understand for myself, I tend to overdo them quite often.

 

[BlueCreek]

My bank kept fudging its introduction so I swapped.
[doublepost=1486754212][/doublepost]
In the U.K., they have a system where you can switch just by filling in a online form, then the banks deal with everything.

Plus the fact that pretty much every store in the U.K. accepts Apple Pay, so switching banks was worth it for me, specially when Barclays dragged their feet which was my main account.

 

[actionmarker]

In Australia there's no real user advantage to using Apple Pay or any other phone payment system. The vast majority of vendors accept contactless payments and probably pretty much every single card issued by the financial institutions has contactless capabilities. So the transaction time is exactly the same whichever method the user chooses to use.
I guess the only advantage that I like is that when using Apple Pay, my fingerprint has to be verified for it to work. Card don't have that same security.

I use both ANZ and Amex cards in my phone, but i didn't change a bank just to use Apple Pay.

I still find a large number of NFC terminals that won't accept Apple Pay. A couple of examples are;
SunCorp machines never work, presumably because the Apple Pay creates a different card number than the actual number and therefore fails the validation check.
Commonwealth Bank touch screen terminals turn off their NFC receivers as soon as the transaction amount is over the set limit before a PIN is required. ($100 in most places), so no card, no purchase. I haven't tried one with a transaction below the limit.

While these banks keep fighting against Apple Pay, I can't seem them rolling out software updates to their terminals to allow them to work with Apple Pay.

As a result, I still have to carry my cards around. When making a transaction I need to look a the terminal that is in the shop to see if I will be able to use it before I either go for my phone or my wallet.

I tend to just go for my wallet straight off to avoid the hassle.

 

[LeeRod]

Far more important things to worry about than Apple pay. It’s like when people say I won't buy a car without CarPlay. WTF???

My thoughts exactly. I have been looking at different banks because I am starting a new job in a different state so Ill no longer be able to stay with my current credit union. Apple pay isn't even on the list of things I have looked at when researching. To be honest it didn't even cross my mind until I read this article...and I still don't care lol

 

[TVGenius]

Go back to right before Ally added Apple Pay support, and look at the hate posts on their Facebook page. I told them several times in surveys that was the only complaint I had about them, and for a year and a half they copy-pasted the same "We're always looking to find the services our customers value most blah blah blah" BS response. I was seriously considering shopping around again, but then they finally added it, and all was right with the world.

 

[ajfahey]

I would certainly switch banks. I have even.
[doublepost=1486773188][/doublepost]I would certainly switch banks. I already have.

 

[andybow]

Couldn't their assertion still be true, though?

It is for Australia. I cant comment on banking in US etc but in Australia we have 4 Big Banks that for decades controlled the market. ANZ being one of them however they almost immediately (few months) offered Apple Pay. In Australia pretty well all outlets use "PayWave" vary rare to find non units so Apple Pay is accepted at all of them. Cannot understand how it causes the Banks issues other than they miss out on small part of excessive transaction fee. Alternatively I know fraud is high with contactless transactions i Australia so Apple Pay kills that dead.

Why wouldn't it still be true? It's possible for there to be enough banks supporting it where you don't have to switch, yet not enough support to use it in stores.

You dont have to switch Banks in Oz just take out a ANZ credit Card and your good to guy. Most offer interest free periods, so pay off monthly and use instead of cash



This is true. You do have to admit it's gotten better though.

 

[skellener]

Stop using banks all together! Use a local credit union.

 

[djlythium]

Which ones are wrong in my sentence? As you can probably tell, English isn't my first language. so to make the sentences easier to understand for myself, I tend to overdo them quite often.

AH. Well, in that case, I feel like an AH. I should have thought first. I prefer the Oxford comma. A simple Google search will tell you all you need to know.