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

fortune.com

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

#41

Post by gioele »

chmars wrote: post #28
stephenr wrote: post #21

I kept my Australian bank issued Visa card for a while when I first moved to Thailand, and used it while we were getting stuff set up locally. Even though it's never presented locally, with that card cashiers would often get the "sign or pin" prompt on the terminal, and then ask me (or gesture if their English wasn't great), and I'd usually pick pin, which would then produce a slip with "No signature required" printe…

Signing actually helps against fraud: Signatures can be compared, PINs cannot – and you can be made liable … :(

> Signing actually helps against fraud: Signatures can be compared, PINs cannot – and you can be made liable … :(

cough There is specimen of your signature on the back of the card cough

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

#43

Post by Viper007Bond »

chmars wrote: post #28
stephenr wrote: post #21

I kept my Australian bank issued Visa card for a while when I first moved to Thailand, and used it while we were getting stuff set up locally. Even though it's never presented locally, with that card cashiers would often get the "sign or pin" prompt on the terminal, and then ask me (or gesture if their English wasn't great), and I'd usually pick pin, which would then produce a slip with "No signature required" printe…

Signing actually helps against fraud: Signatures can be compared, PINs cannot – and you can be made liable … :(

No one looks at those. I always scribble, never doing my actual signature. Hell on those digital pads, I literally just draw a horizontal line. Never had a single problem.

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

#44

Post by Rafert »

rconti wrote: post #39
the_mitsuhiko wrote: post #8

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.

Huh. Contactless cards effectively don't exist in the US, but I'd expect any Apple Pay-compatible system to accept your card as well. Sounds like its more foreign bank issues (eg, the banks can't agree on rules) than a technology issue. NFC is NFC.

In this case, EMV = EMV is the better comparison.

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

#45

Post by el_benhameen »

When I first got an iPhone with Apple Pay, I felt ridiculous pulling it out to buy groceries. It felt gimmicky, like I was showing off. That changed when my grocery store started requiring chipped cards to use the chip. AP easily shaves 20-30 seconds off the transaction. I can pay while items are still being scanned, I don't have to remember to remove the card, and the auth process is just faster. Works well enough for me that it's now my primary payment method when it's accepted.

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

#47

Post by flashman »

jjcm wrote: post #11

I think a better market to look at for contactless payments is Australia. Over here we use them for everything . Apple pay has just started rolling out and pretty much 95% of places I've shopped/eaten at support it. If you're curious about adoption rate, it's a good case study as there's an existing contactless credit card system already in place.

edit: this is all wrong:

The Australian banks make a lot of money off interchange fees. Apple wants a cut of the interchange fee to get access to Apple Pay (which is what ANZ did recently). This has slowed the Apple Pay rollout, but not because banks don't want to share the fee.

By all accounts, the banks do want to be on Apple Pay, but each bank wants to give Apple the same cut as its competitors do (or at least, not a higher cut). And that's a problem because if they collectively negotiate the same amount, they could be accused of anti-competitive behaviour. They've recently gone to the competition regulator to get permission to negotiate with Apple as a bloc.[1]

[1]http://www.businessinsider.com.au/the-big-australian-banks-a...

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

#48

Post by reviseddamage »

el_benhameen wrote: post #45

When I first got an iPhone with Apple Pay, I felt ridiculous pulling it out to buy groceries. It felt gimmicky, like I was showing off. That changed when my grocery store started requiring chipped cards to use the chip. AP easily shaves 20-30 seconds off the transaction. I can pay while items are still being scanned, I don't have to remember to remove the card, and the auth process is just faster. Works well enough f…

>It felt gimmicky, like I was showing off.

the early adopter's tradeoff for all tech i suppose.

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

#49

Post by Animats »

honkhonkpants wrote: post #22
kinkora wrote: post #17

Earlier quoted context omitted.

It's definitely a US thing. Here in Australia, everyone hardly uses Apple Pay and all major banks have their own cards/app that does NFC payments. I find it really strange that it is not widely adopted in the US since it removes a lot of friction when it comes to paying for stuff ergo encourages more business. I.e. my usual coffee joint was always packed in the mornings and since they adopted NFC payments a few years…

Experience here is the complete opposite. When I buy a coffee I hand the guy a few bucks and leave. If the clown in front of me starts waving their iPhone at the terminal, I start rolling my eyes and tapping my fingers.

Worse, they're using an affinity card, which takes extra time.

Even worse, they're being signed up for an affinity card, which takes several minutes.

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

#50

Post by dawnerd »

josephpmay wrote: post #13
oggedintocom wrote: post #7

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 contact…

The US Chip + Signature system is 1000x worse than the Chip + Pin systems I've experienced in any other contry

I've run into two setups here in Oregon that require you to swipe first (inserting wont start the process at all), then it tells you to insert, then waits for ever, then pin, then another long wait, then approved. No idea how they managed to screw it up that badly. I've used it elsewhere and it was really fast.

Whats worse is some stores have it where you can insert, but when you do it says "swipe card". Like it detects you inserted but refuses to run it that way. I really just don't get it.

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