LOL, that's what I meant. And it's my sisters birthday today too. I should have known better.
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Many Retailers Hesitant About Offering Support for Apple Pay
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LOL, that's what I meant. And it's my sisters birthday today too. I should have known better.
Disappointing story
I'm really surprised that MR would run such a worthless and half-reported story.
First of all: BestBuy and WalMart aren't against Apple Pay because they are evil (they are, but that's beside the point) -- they are pushing their own alternative payment system that cuts out the banks. Now you might think hooray for that, but it will make no difference in the prices, so no banks or card issuers will support it. Good luck with that, WM/BB.
Second: apart from those two, NONE of the merchants cited in the article are saying they won't accept Apple Pay. They're saying it will be a while before they CAN accept Apple Pay. To which I and every other thinking person would say "well, duh." America is woefully behind the rest of the first world in upgrading the security of its retail payment systems, but the hour is upon us (as you may have noticed from all these recent breach stories).
What this story is really saying is "we asked a question too early, and got the expected answer," which really says (and means) nothing at all. As noted by another commenter, over the next year or two, nearly every merchant in the US will have the ability to accept mobile payments. They pretty much have to (add the more secure NFC and chip-and-pin combo terminals) or they will be responsible for any fraud. That's a pretty powerful inducement that is entirely separate of Apple or its influence. It just happens that upgrading your terminal will add Apple Pay compatibility on its own.
So in short, this story is worthless bunk. Merchants just can't upgrade overnight, but believe me they have plenty of financial motivation to upgrade over the next couple of years. And Apple Pay will be a huge part of it.
But don't take my word for it: bookmark the article, and revisit it two years from now. It will look pretty stupid by then, even if the rollout isn't 100 percent complete at that point.
I'm really surprised that MR would run such a worthless and half-reported story.
First of all: BestBuy and WalMart aren't against Apple Pay because they are evil (they are, but that's beside the point) -- they are pushing their own alternative payment system that cuts out the banks. Now you might think hooray for that, but it will make no difference in the prices, so no banks or card issuers will support it. Good luck with that, WM/BB.
Second: apart from those two, NONE of the merchants cited in the article are saying they won't accept Apple Pay. They're saying it will be a while before they CAN accept Apple Pay. To which I and every other thinking person would say "well, duh." America is woefully behind the rest of the first world in upgrading the security of its retail payment systems, but the hour is upon us (as you may have noticed from all these recent breach stories).
What this story is really saying is "we asked a question too early, and got the expected answer," which really says (and means) nothing at all. As noted by another commenter, over the next year or two, nearly every merchant in the US will have the ability to accept mobile payments. They pretty much have to (add the more secure NFC and chip-and-pin combo terminals) or they will be responsible for any fraud. That's a pretty powerful inducement that is entirely separate of Apple or its influence. It just happens that upgrading your terminal will add Apple Pay compatibility on its own.
So in short, this story is worthless bunk. Merchants just can't upgrade overnight, but believe me they have plenty of financial motivation to upgrade over the next couple of years. And Apple Pay will be a huge part of it.
But don't take my word for it: bookmark the article, and revisit it two years from now. It will look pretty stupid by then, even if the rollout isn't 100 percent complete at that point.
We are no more than a few months away from a level of crisis that will shake American confidence in the cards we carry. The businesses will adjust. It will not be an option. Our banks waited years too long to fix this problem and it is almost too late to avoid a total meltdown.
I wish I could be as optimistic as the level headed folks, but I see the extrapolation of these hacking incidents as a huge crisis. Just look at the increase in frequency.
A few things:
- Best Buy/Walmart's app won't take cards. At all. Checking account or cash only. They will probably give discounts at the start to get people to use it.
- Actually, only chip enabled terminals are required to avoid liability, not NFC. I can see smaller businesses cheaping out and getting new terminals that don't have NFC support.
What happens if you decide to take a vacation outside a major city, your car needs gas, and the only gas station around only takes plastic?
Are you going to buy gas, or will you sit in your car and play with your iPhone until the gas station decides to get a NFC terminal?
I get your point, but I keep emergency cash on me for just such an occasion, especially when traveling. Even attendantless gas stations have a machine that accepts cash.
Also, I see a scenario where CurrentC beats out Apple and Google, especially since the members of MCX are probably going to pass the savings from not having to pay Visa/MasterCard to users of their app. To my understanding, the merchants don't even need to make much of an investment in POSes--the customer just scans the barcode displayed on the POS with their own phones.
I hopePay succeeds though. It'd really suck to have the US still use a standard no one else uses.
Don't see that happening, honestly. No card with Mastercard or Visa will be using this, because it cuts them out of the picture. People love their CC's. Also,
Pay is already twice as big at 220,000 retail locations vs. CurrentC's 110,000 (from MCX's own press release) even before they both go live.MCX is asking people to change the way they pay for things, ie stop using Mastercards and Visas (or Amex & Discovery for that matter) whilst
Pay and regular NFC is just making it easier to use already existing underlying systems and payment networks. Big mistake to take on the Credit Networks directly, just a path to failure.It is logical. I agree that it will be awhile before implementation. In the meantime, I will have to shop elsewhere. Time waits on no one. The world doesn't stop turning because companies can't pull it together. Sorry. I prefer to shop at places that cater to my needs.
How's that for logic?
As long as Apple Pay is secure I will opt to shop at stores that accept it over those that aren't. Target has always been my preferred store over Walmart.
The liability shift only takes place if the customer presents a chip card, but the merchant still only supports mag-stripe cards.
In other words, if the customer presents a mag-stripe only card (perhaps because their bank was too cheap to give them a chip card), then no liability shift takes place.
"With the liability shift, if a contact chip card is presented to a merchant that has not adopted, at minimum, contact chip terminals, liability for counterfeit fraud may shift to the merchant’s acquirer. The liability shift encourages chip adoption since any chip-on-chip transaction (chip card read by a chip terminal) provides the dynamic authentication data that helps to better protect all parties. - Visa"
And yes, I'm mad bro. I had a Blizzard a couple of weeks ago so I'm probably going to have to get my 3rd new debit card this year
Don't see that happening, honestly. No card with Mastercard or Visa will be using this, because it cuts them out of the picture. People love their CC's. Also,
MCX is asking people to change the way they pay for things, ie stop using Mastercards and Visas (or Amex & Discovery for that matter) whilst
You'd be surprised to learn that MC and Visa are already onboard.
Here
Don't see that happening, honestly. No card with Mastercard or Visa will be using this, because it cuts them out of the picture. People love their CC's. Also,
MCX is asking people to change the way they pay for things, ie stop using Mastercards and Visas (or Amex & Discovery for that matter) whilst
MCX retailers are responsible for 25% of all retail spending, however. I don't know how much people spend at places that support NFC currently.
That's always the difference between Android phones and the iPhone: Android users look at what the phone can do. iPhone users look at what the user can do. How many Android users are using their phones to make purchases?
Excuse me for not following? Look at my public profile and try again.
Are you calling me uneducated because you can't get your head around the fact that the merchant is not paying Apple (nor is the merchant getting the cost passed on to them by increased processing fees in any way shape or form), but in fact the financial institution that issued the card is?
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As an Android owner I do occasionally. However, it's not enabled in nearly enough places right now to make me go to it instead of a credit card.
Pay and the coming EMV shift should help though.
Hmm I've heard similar ramblings before.
Phones have been around forever. What makes Apple think it can come in and do an exponentially better job?
Music has been around forever. What makes Apple think it can come in and do an exponentially better job?
All Talk
This is All Talk. This resistance will evaporate in the face of Apple users taking their business elsewhere because they want to use Apple Pay. This isn't because Apple has over 50% of the US smartphone users, it is because that part of the population spends vastly more than 50% of the money. And the Apple customers that upgrade their phone every year skew even higher toward the most affluent. Those people spend much much more.
Using Apple Pay will be easier and more secure. By comparison, for the Apple Pay user, handing over the credit card is going to start to seem weird.
I'm not saying this all happens in three months. But hearing folks in retail act like this is going to be hard and that this is somehow going to be a choice is ridiculous. You will have to offer an advanced payment system by the end of 2015 or stop taking credit cards. And it might as well be compliant with Apple Pay and the, by then, 50 million or more affluent US persons who will be using the 6 and 6s.
This is All Talk. This resistance will evaporate in the face of Apple users taking their business elsewhere because they want to use Apple Pay. This isn't because Apple has over 50% of the US smartphone users, it is because that part of the population spends vastly more than 50% of the money. And the Apple customers that upgrade their phone every year skew even higher toward the most affluent. Those people spend much much more.
Using Apple Pay will be easier and more secure. By comparison, for the Apple Pay user, handing over the credit card is going to start to seem weird.
I'm not saying this all happens in three months. But hearing folks in retail act like this is going to be hard and that this is somehow going to be a choice is ridiculous. You will have to offer an advanced payment system by the end of 2015 or stop taking credit cards. And it might as well be compliant with Apple Pay and the, by then, 50 million or more affluent US persons who will be using the 6 and 6s.
The 4 shoppers that went to Sears/Kmart that day were deeply upset.
. Nail/Coffin.
So, tonights news is that K-Mart's payment system has been hacked. I wonder if this will affect their position on not using NFC or Apple Pay?