@ GrindedDown: Your post seems to be based on a complete misunderstanding of what Apple Pay actually is.
Apple Pay cannot be the "Death of the Credit Card", because the user needs a debit or credit card in order for Apple Pay to work. It uses your credit card, except that through some clever technical tricks the credit card number and other details are hidden from the merchant.
And Apple Pay cannot be used _at all_ to receive payments.
Partially true. I certainly understand that a credit card is still required, but I am speculating based on the introduction of this technology that credit cards will merely become another account number and the use of the physical card will die down. The reasoning being increased security of Apple Pay being used by a device that can physically be tracked, convenience factor of not having to carry a credit card, and more. Like was noted, we still have and use checks. We'll still use credit cards.
What I wrote wasn't a misunderstanding of what Apple Pay is, but rather a conjecture as to what this technology could become and the impact it could have. The use of Apple Pay to accept payments is educated guesswork based on Apple's purported interest in Square, which relies on accepting transactions, and also Apple's interest in becoming involved in payments. Apple is certainly interested in maximizing profits. It would be irrational to think that Apple hasn't considered accepting payments as another future way to monetize Apple Pay. I believe that is where iPad could fit in in regards to Apple Pay.
Using iPad to
only make payments with Apple Pay is about as convenient as it is to use iPad as your out-and-about camera. It can work, but your also
that guy.
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NFC is 2-way. While the way ApplePay is implemented at the moment cannot be used to receive payments, it's certainly a possibility in the future with the right software (and security measures).
That said, I do think ApplePay will make contactless payments in the US more popular. I'm not sure if earlier forms used RFID or NFC but contactless payments have been available for years. I remember having used it at 7/11 while I was still at my old job and that was over 7 years ago.
Yeah I've seen it around for some time and I remember using my chase card a long time ago to make transactions. It seemed like more novelty than anything. The only real difference was that you didn't have to swipe, but you still had to carry a card, swipe it near the machine, and the cards full information was still transmitted to the retailer.
Its my understanding that those systems used RFID in the cards and an NFC style terminal would simply read the tags information. The main difference being that was one way communication whereas the style of NFC now used is capable of two way communication so it's now capable of both passing and receiving information. Kinda just an evolution of the RFID system.
I agree with you completely though. This technology is not totally new though there seems to be some innovation on Apple's part. This would seem to me to be the tipping point though. The technology has been around, but now people are actually going to start using it. I think this marks the very beginning of the widespread adoption.
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Transaction time is more important to me. I don't care and I don't shop at random merchants. My credit card company/bank backs me up if there is ever fraud.
It seems Apple Pay will be just as quick, possibly even quicker than having to swipe and sign or enter in a pin code. I guess that remains to be seen, but based on how they positioned it in the keynote, they seem to know that this is the only way people will really begin to use it. Has to be just as fast or faster and more secure.
I guess we'll see, huh?
