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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

#81

Post by jcdavis »

zensavona wrote: post #75
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…

Aren't you able to just tap your chip card on the terminal without a pin for purchases less than ~$100? I live in Australia and this is literally everywhere.

As always, the US is a little behind the times on this too - most credit cards here don't have contactless yet. (I have one that does but its a rarity)

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

#82

Post by icebraining »

pokstad wrote: post #56
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…

Can't upvote this enough. The new "insert card" bullshit is a perfect example of a small group of powerful companies having a monopoly and being completely out of touch with the wants of their users. We took an obsolete magnetic media that worked fast and efficient and somehow made the user experience much worse. Top that off with the fact that fraud protection is much better on credit card purchases thanks to automa…

According to 2014 Gallup Crime Poll, 69% of Americans worry about having their credit card info stolen, and 27% have already been hit.

And despite the anti-fraud automated data analysis, losses per $100 having been growing from 2010 to 2014, when they reached $16 billion, of which the US accounted for half, despite only generating 21% of transaction volume.

http://www.gallup.com/poll/178856/hacking-tops-list-crimes-a...

http://www.businesswire.com/news/home/20150804007054/en/Glob...

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

#83

Post by iamshs »

zensavona wrote: post #79
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.

I live in Australia and since we already have contactless payments everywhere I don't understand the benefit/s Apple Pay provides over tapping my card on the terminal. Am I missing something?

Easy budgeting. No need to carry card. If your Visa gets lost, Apple Pay automatically updates to new card without waiting for a physical card. Some of the benefits that I have seen.

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

#84

Post by nickonline »

zensavona wrote: post #79
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.

I live in Australia and since we already have contactless payments everywhere I don't understand the benefit/s Apple Pay provides over tapping my card on the terminal. Am I missing something?

No card is the only real benefit.

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

#85

Post by dawnerd »

michaelmrose wrote: post #76
dawnerd wrote: post #50

Earlier quoted context omitted.

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 dete…

I work in retail. Failing to start processing upon insertion is a bug, the screen telling you to insert is a warning that you did the wrong thing not an expected part of the process. I have seen a weird issue wherein some cards, always the same cards don't start processing until you try and fail to swipe. I have no idea what the difference is as it doesn't seem to be a single issuing bank.

It seems to be whatever model terminal they're using.

One other example is chase. Their ATMs still make you insert, pull out, then stick back in. Ive yet to have one take the card first try.

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

#86

Post by mercer »

zensavona wrote: post #79
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.

I live in Australia and since we already have contactless payments everywhere I don't understand the benefit/s Apple Pay provides over tapping my card on the terminal. Am I missing something?

Contactless payment has been rolled out in many places in Holland over the past year or two, and while that decreases the benefit of using your phone, it's still slightly easier to pull out your phone than to take a card out of a wallet, pay, then put it back in.

For me that would be enough of an improvement to switch.

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

#87

Post by gregmac »

rconti wrote: post #37
Kpourdeilami wrote: post #6

Earlier quoted context omitted.

Really? In Canada, almost everyone uses them and almost everywhere supports them

I had heard that contactless was moving backwards in Canada; used to be more widespread but now fewer places accept it. True?

Not in my experience. I've found more places slowly accepting it as the few with the remaining old terminals that only supported chip+pin are being replaced by newer units that have contactless.

A year or two ago I used to rarely see the contactless part taped over with a message saying "No paypass" or whatever, but I can't remember the last time I saw that anywhere. Even Costco now takes contactless up to $200 now.

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

#88

Post by mercer »

jonathankoren wrote: post #65
josephpmay wrote: post #13

Earlier quoted context omitted.

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

The problem with a pin system is that I have a like 8 cards that I use pretty randomly. While any of them can have a pin, the only one I know is my ATM card. I can't imagine how people do this with multiple cards and multiple pins without a password manager or some algorithm.

May I ask why you have eight cards? Is that common in your part of the world?

I've got three cards: personal account, business account, and credit cards. I don't remember the credit card PIN since I rarely need it, so that leaves two PINs. I'm already having a hard time remember my business card PIN since I don't use it much. Can't imagine having to carry around eight and remembering all those PINs!

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

#89

Post by stephen_g »

flashman wrote: post #59
_kyran wrote: post #27

I haven't used cash in Australia in the past year. Contactless payments on any purchase under $100 is dead simple and it's a lot easier to tap a bit of plastic that authenticate and use a phone.

I find it's useful to stick to cash as a budgeting measure. It's too simple to lose track of how much you're spending when the amounts are effectively invisible. I'll make a cash withdrawal and then try to make it last without contactless payments.

That's interesting - I have the totally opposite experience. I've been using a card for most of my purchases since I was 13 years old, and I'm so used to budgeting by analysing my internet banking transactions (previously the paper statements) that when I'm forced to get out cash to buy something, I am extremely carefree with how I spend the change.

Once the transaction is there on my internet banking, it feels to me like the money is already spent - so if I have to get $50 out to pay $30 somewhere that doesn't take cash, I'll just spend the other $20 on whatever without thinking! Whereas I'm a lot more careful with the card because I know I'll see it in my transactions later.

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

#90

Post by mmmBacon »

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.

In my view the secure enclave and one-time use authorization are the killer things about Apple Pay, not the contactless part. The merchant/cashier doesn't see my name and doesn't have my card number.
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