Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments

It's interesting reading about chip+pin and contactless payments in the US - in Australia 95%+ of transactions are chip+pin, and 70% of that (almost all transactions under $100) are contactless.

The system isn't perfect, and anecdotal stories from LEOs indicate fraud has risen due to the low friction of contactless transactions, but obviously it's not too big a problem for the banks to wear (as all fraudulent contactless transactions are the bank's problem, not the card owner's).

Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments

#8

Post by the_mitsuhiko » Wed, Jul 27, 2016, 5:27 AM UTC

It's frustrating how the US is the only country I travel to where I cannot use my non American NFC cards. Half the terminals I encounter really only accept apple pay or a form thereof.

Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments

#9

Post by cft » Wed, Jul 27, 2016, 5:28 AM UTC

chrischen wrote: post #5

Last I checked nobody used contactless payments in the first place.

Most of my friends use Apple pay in cabs in New York and in Whole Foods.

Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments

#10

Post by RickS » Wed, Jul 27, 2016, 5:28 AM UTC

From the article:

> Apple hasn’t revealed exact volume or usage numbers

> without a baseline usage number, it’s impossible know whether the current volume is significant.