Wells Fargo Continues Promoting Apple Pay With New Advertisement

[Chupa Chupa]

Must be nice to get your products advertised for you by another company.

I'm sure there is some coordination between Apple and Wells Fargo. WF isn't assuming all the costs. It's no different than weekly sales flyers for grocery stores -- the stores are getting paid by the manufacturer to put brand brand x product in there.

 

[Rocketman]

If this becomes widely adopted, the fraud rate may actually drop. Those high rates and fees are largely fraud driven. Apple could cause CC rates to drop for many people who never even heard of it.

Rocketman

 

[kemal]

Anyone catch 60 Minutes Sunday? You would think the CC industry would want to hand out free iPhone 6s' based on what is being lost in fraud and CC number harvesting via merchant break-ins.

 

[taptic]

Awesome commercial!

 

[coolfactor]

We all saw it coming –*Apple was going to change how electronic payments were done – they were going to show the world how it should be done. And it's happening right before our eyes. Love it!

 

[ipader]

Correction, Contactless not contact. Much props to Wells Fargo and Apple needs to promote it as well along with the other banks.

Terminals can be iffy. Some terminal with the Pay Wave symbol (Wireless turned sideways) are either turned off or not working. You have to go with the Vendors in store support. I would rank acceptance and awareness as Whole Foods, Walgreens, McDonalds, Panera, Staples, Petco, Petsmart, Office Depot, Sports Authority for ones I have tried.

Why do I need to "sign" at Whole Foods? I thought by using Apple Pay it would eliminate the need for my signature.

 

[dyt1983]

I've used Apple Pay at least twice a week since it's came out. I have not received anything yet. Do I have to do anything or will just eventually be deposit into my account?

According to the what I read last month on the web page that advertises the offer, it may take 2-3 statements for it to show up. Some people have received it; I've used it on 3 cards and haven't had anything yet. Then again I haven't even had any statements since I first used ApplePay (it was later in November).

No one, outside of techies, are talking about Apple pay. Literally, I haven't heard a single person at work, neighbors, friends or family mention it at all.

Me neither (not sure if GF counts in those). But then again I don't talk about credit cards or cash with most of those people either. And I've seen several of my friends use it at lunch, so I suspect over half of the people I know with iPhones 6/6+ probably use it because I occasionally have stopped with them at banks that are supported by ApplePay.

 

[Illuminated]

None of my cards work with Apple Pay. Waiting on Discover to join the Apple Pay movement.

 

[dyt1983]

I'm surprised WF doesn't charge you for using it. They are insane with the fees.

I guess either they are nicer to West Coast residents... or I'm doing something completely different at the bank than you are. Or by "insane" you mean that they don't have fees, which would support my experience.

Admittedly, I've looked at some of their fee schedules and there are some ridiculous ones in there, but they've never charged me any. I even have one checking account that I like to keep segregated from the rest to avoid any fraud issues, and a banker showed me how to not get fees by setting up a linked savings account that gets an automatic transfer every month... $100 in on the 1st, $100 back out on the 2nd.

 

[hiroden]

Where is Apple Pay in Canada??? Come on, Apple!

 

[macduke]

Today the US Bank on campus had a bunch of posters hanging up with iPhones on them talking about signing up for Apple Pay. I found that to be quite out of the ordinary. Apple is getting so much free advertising.

 

[dontwalkhand]

Exactly. Don't ask because most cashiers don't even know about it. Just look for NFC Pos terminal symbol
Image
Just last week I was able to use Apple Pay at a liquor store. I notice the POS terminal had NFC symbol so I tried and it worked (however, I did have to enter my PIN)

The problem is some terminals don't even have symbols and it works just fine! Like the one I've attached.

 

[ellsworth]

I'm surprised WF doesn't charge you for using it. They are insane with the fees.

This is probably why they are throwing a million dollars into advertising Apple Pay so much. They're just make it all back from fees and dues.

None of my cards work with Apple Pay. Waiting on Discover to join the Apple Pay movement.

This may sound silly but it would be a good idea to contact a Discover Card rep and request that they jump on the bandwagon.

You'd be surprised at how oblivious some companies are about what their customers want/don't want.

 

[Mtmspa]

Anyone catch 60 Minutes Sunday? You would think the CC industry would want to hand out free iPhone 6s' based on what is being lost in fraud and CC number harvesting via merchant break-ins.

Scary stuff. Made the wife watch since she won't even passcode her phone.

 

[fr33 loader]

I'm actually surprised that banks are not as aggressive promoting Apple Pay and maintain status quo, they would be cut off and lose much more if the the other pay system becomes successful.

Banks are not doing it out of the goodness of their hearts to help customers or total belief that Apple Pay is the next slice bread. They are doing it to protect their own interests.

 

[caesarp]

Why do I need to "sign" at Whole Foods? I thought by using Apple Pay it would eliminate the need for my signature.

Depends on the transaction amount. I think it's $50 or more. Has nothing to do with Apple pay. All credit cards under $50 no sign. Above 50 sign. Many stores have such a limit in place. I think it's based on the agreement with their payment processor.

 

[MacBH928]

Why does Chase and Wells Fargo promote an Apple product? Do they make higher profits instead of using the regular credit cards?

 

[macosxuser01]

The problem is some terminals don't even have symbols and it works just fine! Like the one I've attached.

Oh wow I didn't those POS terminals work. I'm gonna have to try next time I see one of those ones

 

[FieldingMellish]

The only thing that will cause me to adopt Apple Pay is freedom from digitally signing those stomach-turning greasy/ smeary tablet interfaces of today's point of sale systems. I was at a market where I swiped a credit card and then the merchant spins this tablet around so that I could sign it. It was just so gross. I asked him, "When the hell are you ever going to clean this thing?"

 

[aamoren3]

Jack Antonoff is the guitarist for fun, not the "front man."

THANK YOU. it was driving me crazy but I was hoping someone would mention it...

 

[pankajdoharey]

Gates is doing good stuff

Gates is doing good stuff he should be given Nobel Peace Price or something.

 

[dontwalkhand]

Oh wow I didn't those POS terminals work. I'm gonna have to try next time I see one of those ones

The problem is that they also have to enable NFC, which in the case of the picture it is enabled. The only way you can really tell if NFC is going to work is tap your phone before you pull out your card, each and every time.

I've also seen instances where it wouldn't work and it randomly started working (they must have just turned it on).

By the way don't ever bother asking the cashier as 9/10 times they barely even know how to take a regular credit card.

 

[JAT]

I guess either they are nicer to West Coast residents... or I'm doing something completely different at the bank than you are. Or by "insane" you mean that they don't have fees, which would support my experience.

Admittedly, I've looked at some of their fee schedules and there are some ridiculous ones in there, but they've never charged me any. I even have one checking account that I like to keep segregated from the rest to avoid any fraud issues, and a banker showed me how to not get fees by setting up a linked savings account that gets an automatic transfer every month... $100 in on the 1st, $100 back out on the 2nd.

That probably means you are good at keeping your account in good standing (per their terms), so keep it up. From a business standpoint, WF is quite crazy. They have more and larger fees than any other bank I've worked with, which numbers around 20 so far. Businesses don't generally get fees waived, like your automatic transfer does for your personal checking account.

One example: An NSF is $25 for one of our businesses using WF. We pay $4-8 at another bank. For an NSF on a deposited check, not for us bouncing a check, we don't do that.

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Why does Chase and Wells Fargo promote an Apple product? Do they make higher profits instead of using the regular credit cards?

No. But there should be fewer problems with the security, less fraud potential. So, in the long run, it should cost them less in expenses. I'm sure it is too new for any actual numbers to prove anything.

 

[Toucansma]

Only thing I am wondering is why does Apple not have an app (or map setting) to search for Apple Pay compatible businesses (unless I missed something)? For small businesses especially, that are considering adopting it, it would be extremely helpful to push adoption.

 

[dontwalkhand]

Only thing I am wondering is why does Apple not have an app (or map setting) to search for Apple Pay compatible businesses (unless I missed something)? For small businesses especially, that are considering adopting it, it would be extremely helpful to push adoption.

The problem with that is it isn't just the banks, it's the merchant services provider etc involved. Remember all they have to do is turn PayPass on, and Mastercard has a PayPass locator, but even then it doesn't show all merchants.