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Apple Pay on pace to account for 10% of global card transactions

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Re: Apple Pay on pace to account for 10% of global card transactions

#111

Post by needusername »

cranekam wrote: post #56

Not in Switzerland! Over here pretty much only credit cards work with Apple Pay. I haven't found a single debit card that works with it (other than Revolut, which is only a bank if you squint at it). I assume this is because there is a thing called TWINT [0] here, which covers several payment concepts (peer to peer transfers, point of sale terminals, online) with an equal degree of mediocrity. It's not ubiquitous, fa…

> I haven't found a single debit card that works with it

Well yeah. Because the banks don't make money with debit cards so they do everything possible to sell you a credit card. That's why in Switzerland you have this special variant of a Meastro which you can't pay online. That's a special deal with Mastercard for Switzerland only because Mastercard generally doesn't allow blocking this.

Re: Apple Pay on pace to account for 10% of global card transactions

#112

Post by needusername »

yalogin wrote: post #77
gregdoesit wrote: post #61

I had dinner with members of the Apple Pay team a year or two back. I asked them, “So, who are your competitors? Google Pay? PayPal?” They laughed. “No, we don’t really track them. We have one main competitor. Credit cards. We care about Apple Pay being better, easier and more convenient to use than any of your credit cards.” And then, finishing dinner, the guy paid with his Apple Watch, using Apple Pay. The waiter w…

You can pay using Apple Pay at restaurants? Has to be a special case right?

Sure you can. It's not a special case. That's the beauty of Apple Pay. Industry standard protocol. If the merchant accepts contactless credit cards then Apple Pay will work. No need for any special hardware, any special software or any contract changes.

Re: Apple Pay on pace to account for 10% of global card transactions

#113

Post by nvarsj »

_bxg1 wrote: post #101
riffraff wrote: post #90

Earlier quoted context omitted.

my contactless cards need a PIN when used for significant money, don't they all? Is skimming a major issue?

I don't know what qualifies as "significant", but I've used contactless on my actual card a handful of times and never needed a PIN

At least in the UK, contactless is limited to 20£ and probably has other limits as well I suspect.

Re: Apple Pay on pace to account for 10% of global card transactions

#114

Post by Angostura »

riffraff wrote: post #103
Angostura wrote: post #50

Earlier quoted context omitted.

Yeh, I’ve used contactless for years in the UK, but it’s limited to transactions under £30. Being able to use your phone and not fumble fir your wallet irrespective of transaction size is really quite nice.

> but it’s limited to transactions under £30. this seems a limitation on your side (bank?), I've used contactless for larger expenses in other parts of Europe without issues (inserting a PIN).

Its a general limitation imposed by the payment processors on contactless in the UK.

Re: Apple Pay on pace to account for 10% of global card transactions

#115

Post by nickhalfasleep »

notJim wrote: post #17

A big part of this is that apparently US credit card companies decided not to include contactless when they switched over to chip cards, in order to save money. Ironically, contactless was becoming fairly common before the move to EMV, but is now pretty rare. I think about half my cards had it a few years ago, but now none do.

I wonder if contactless will also gain favor as being less likely to spread disease.

If you just wave the authentication device, it is less likely to communicate surface contamination.

Re: Apple Pay on pace to account for 10% of global card transactions

#116

Post by snowwrestler »

rb808 wrote: post #16

Wow I always thought this was a gimmick that no one used, I'll have to evaluate. even 5% doesn't sound right to me (of course the headline is an estimate). > Apple Pay accounts for about 5% of global card transactions and is on pace to handle 1-in-10 such payments by 2025,

I find Apple Pay more convenient that using a credit card because I usually have my phone more quickly accessible to hand than a credit card. The transaction seems to complete faster as well.

That said, facial recognition to pay is a huge step backward. The phone has be held just the right way, the side button double-clicked, and you have to look directly at it... and even then it does not work 100% of the time! The fingerprint reader was way better for paying.

Re: Apple Pay on pace to account for 10% of global card transactions

#117

Post by herpderperator »

What frustrates me is the way everyone talks about Apple Pay as if it's the standard in mobile payments. Everyone calls contactless payments Apple Pay, which is technology other countries have had for many years built into the cards themselves via an NFC chip. Visa calls it PayWave(TM), because you just wave your credit card over the terminal to pay. I have been taking advantage of the benefits of contactless pay since 2011 with PayWave. Phones later came out with NFC support and now we can emulate this "contactless" signal with the phone's NFC chip rather than those in credit cards. Other than the added security of making up a new card number for your particular credit card when you add it to your digital wallet (read: Google Pay or Apple Pay or Samsung Pay, etc.), and separate accounting, there's no difference from contactless payments that have been around for OVER a decade now.

We talk about Apple Pay as if that's the standard. We talk about Apple Pay as if it's what allows you to pay with your watch. It's not. Contactless payments are. You can read about it here: https://en.wikipedia.org/wiki/Contactless_payment. The intro paragraph:

> Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near field communication (NFC, e.g. Samsung Pay, Apple Pay, Google Pay, Fitbit Pay, or any bank mobile application that supports contactless) for making secure payments.

So as you can see, Google Pay is practically identical to Apple Pay, Samsung Pay, etc. and neither of them are the standard. NFC payments are. And they don't have to be in an Apple device.

Re: Apple Pay on pace to account for 10% of global card transactions

#118

Post by ryukafalz »

needusername wrote: post #112
yalogin wrote: post #77

Earlier quoted context omitted.

You can pay using Apple Pay at restaurants? Has to be a special case right?

Sure you can. It's not a special case. That's the beauty of Apple Pay. Industry standard protocol. If the merchant accepts contactless credit cards then Apple Pay will work. No need for any special hardware, any special software or any contract changes.

Typically in the US the waiter will take your credit card back to a payment terminal rather than bringing a card reader to you. Contactless isn’t really an option in that case.

Re: Apple Pay on pace to account for 10% of global card transactions

#119

Post by altec3 »

mrosett wrote: post #15

I thought Apple pay was really dumb... and then I started using it. Especially with an Apple Watch: when I get to checkout, I can fumble with my wallet, dig out a card, wait ten seconds for the chip to read, and then put the card away.... or I can tap a button on my watch twice and wave it near the reader. Done.

I primarily use my card for purchases at retail locations, but a few times I've forgotten my wallet, and Apple Pay on my phone has saved me.

Re: Apple Pay on pace to account for 10% of global card transactions

#120

Post by denzil_correa »

1123581321 wrote: post #81
notJim wrote: post #26

I honestly love Apple Pay, but I don't use it super often because it makes me self-conscious. I feel like a bit of a dick for some reason. If you try to do something "weird" and it doesn't work, people get annoyed, or it feels like an imposition. Even when it works, people sometimes make some kind of comment. Relatedly, it's unpredictable whether it will work or not. It usually does, as long as the card machine says…

If I’m not sure, I say “Apple Pay okay?” to the cashier first in what I hope is a friendly way. Sometimes they’re not sure and will say, “you can try,” and then it feels more okay to give it a shot. Feeling rude happens because when you suddenly produce your phone or watch, you suddenly reveal you’ve been thinking of the transaction differently and maybe that the cashier was incorrect or ignorant to assume you would…

Sometimes, the cashier says "not ok" despite being "ok".
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