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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

#141

Post by crazygringo »

I use Apple Pay mainly for two reasons (US-based):

1) Because rewards programs can be so lucrative per-category, I wind up using like 5 different credit cards constantly. That's too thick to keep in my wallet, so I never bothered before... but now it's effortless on my phone. Now I basically get 3-5% back on most stuff instead of the old 1-2%. It adds up.

2) Chips seem to degrade after a while, as anything contact-based seems finicky. Apple Pay doesn't always work on the first try... but it always works by the second. Which is more than I can say for credit cards, god only knows why.

So now I really just keep one physical credit card on hand -- the one that gives me most rewards dining out, since you need a card to hand them (in the US anyways) -- and to use for the occasional instance a store's terminal doesn't accept Apple Pay (mostly public transit vending machines these days).

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

#143

Post by aguyfromnb »

dawnerd wrote: post #46

I just found out it works at gas stations in Canada where I’d normally have to go inside and have them charge my card and sign for it. It’s made traveling a lot nicer when places support.

>I just found out it works at gas stations in Canada where I’d normally have to go inside and have them charge my card and sign for it.

Say what? I live in a rural part of Canada and contactless payments are accepted nearly everywhere, most right at the pump. At worst you're using chip and pin. I can't even remember the last time I had to sign my name for a credit card transaction.

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

#144

Post by notyourday »

crazygringo wrote: post #141

I use Apple Pay mainly for two reasons (US-based): 1) Because rewards programs can be so lucrative per-category, I wind up using like 5 different credit cards constantly. That's too thick to keep in my wallet, so I never bothered before... but now it's effortless on my phone. Now I basically get 3-5% back on most stuff instead of the old 1-2%. It adds up. 2) Chips seem to degrade after a while, as anything contact-ba…

> Chips seem to degrade after a while, as anything contact-based seems finicky. Apple Pay doesn't always work on the first try... but it always works by the second. Which is more than I can say for credit cards, god only knows why.

This is the most annoying thing. Chips seem to be much less reliable than the mag stripe and not all systems are NFC. On my daily usage cards in 1/3 of the cases it takes 2-3 tries ( ~30-45 seconds per try ) and in 1/2 of those cases it becomes "Use mag stripe" which takes another 30-45 seconds

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

#145

Post by madeofpalk »

sevencolors wrote: post #36
Cu3PO42 wrote: post #23

Earlier quoted context omitted.

> It rolls a new number every time I use it, Are you positive about this? When I used Apple Pay (in Germany) I always got the same card number. It was my understanding that the number is generated when you add a card to Wallet and is unique to your device, but not transaction. EDIT: The Apple support site [1] claims the following: > Full card numbers aren’t stored on the device or on Apple Pay servers. Instead, a uni…

I believe OP means it generate a new payment token that's sent over for each purchase

That is not a unique feature of Apple Pay. It happens for any contactless 'card' payment.

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

#146

Post by walshemj »

snowwrestler wrote: post #116
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…

Actually in the UK I find iPhones are slower than contactless cards for my regular bus commute.

Transport in the uk is moving to having electronic tickets on their own rfid cards which you store your ticket on which is even quicker

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

#147

Post by TazeTSchnitzel »

_bxg1 wrote: post #54
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.

Contactless is also a security concern on actual cards. It only stores a single number (like the stripe, unlike the chips or phone-based NFC), and it effectively "broadcasts" it in a radius of a couple of inches. Very easy to skim even while it's still in your pocket.

> It only stores a single number (like the stripe, unlike the chips or phone-based NFC), and it effectively "broadcasts" it in a radius of a couple of inches

This is only for magstripe-emulation contactless, which is very regrettably a thing, thanks United States! The civilised world uses true EMV contactless.

Edit: Huh, even the US will be forced to use EMV contactless soon, apparently. Makes sense that Visa and Mastercard wouldn't want to support that massive fraud risk for long.

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

#149

Post by kylorhall »

threeseed wrote: post #124
grogenaut wrote: post #88

Earlier quoted context omitted.

When I was in Australia this August, most waiters were "Stunned" that I didn't need a pin to buy things. It doesn't take much to "Stun" a waiter when it comes to tech.

This is an odd comment. We haven't needed a PIN to buy anything like dinner in Australia for close to a decade now. Only exception is if you are going for a more expensive dinner where you might be. But then I doubt your credit card company is overriding that security precaution.

In AU/NZ think the default limit is like $75–$150, depending on the type of shop? With Apple/Google/etc Pay in AU/NZ, the same limit seems to apply as with chips.

Above the limit, with Apple/etc Pay, I usually need to sign and have the card physically on you if the merchant asks for it. I think even my Paywave card requires a signature if used via Google Pay, but a Pin without, but I almost never use that one for large transactions.

Above the limit with Paywave/Chip/etc would make you enter your pin (and you already have the card on you).

If you're paying for expensive things, Apple/Google/etc Pay is a bit worse UX in my experience.

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

#150

Post by madeofpalk »

jon-wood wrote: post #64
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…

This is a very US biased thing. In the UK it’s been months since I last encountered a card reader that didn’t do contactless, and almost as long since I’ve been told a place doesn’t accept cards. These days you’ll get looked at funny if you put your card in the machine unless you’re doing a substantial transaction. I still carry a small amount of cash on me just in case, but the same £10 note has been sitting unused…

> months since I last encountered a card reader that didn’t do contactless

months? Its been years since I've seen a card reader that didn't have contactless.

The first place I ever saw it was 2010 at a rural Australian Mcdonalds.

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