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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

#211

Post by nottorp »

notyourday wrote: post #144
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-…

I once killed a card because for some reason i took it into a cave with me. It's not like I dropped it in mud, it looked fine and dry when i got out (it was in the inner pants not in the actual caving suit), but apparently 4 hours in a chilly damp place were enough to kill it.

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

#212

Post by Spivak »

madeofpalk wrote: post #145
sevencolors wrote: post #36

Earlier quoted context omitted.

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.

Right but Apple, Android, Samsung, Walmart, NBCUniversal, TacoBellFritoLaySnappleGroup Pay are pretty much the first contactless payment platforms to really gather steam in the US.

Visa and MasterCard didn’t have the advantage of a phone platform that make contactless payment actually more convenient than magstripe so the value in rolling it out was pretty low.

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

#213

Post by cody3222 »

I was visiting Sydney earlier this year and could use Apple Pay on the metro/ferry/bus. Rather than wasting time at a ticket machine, inserting a card, etc, I could literally just tap my phone on the turnstile and "ding" I was in.

This was really a game changer.

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

#214

Post by jdminhbg »

awinder wrote: post #209
hprotagonist wrote: post #5

I unabashedly love apple pay and use it preferentially whenever I can. in the US, it's faster than chip-and-pin cards by a LOT. It rolls a new number every time I use it, so i can pay at sketchy gas stations at 2 AM and not care about skimming. More and more gas stations are upgrading their pump POS pads so i can refuel my bike without digging under my armour for my wallet. On websites, my only quibble is that it's o…

The lack of discount codes for Apple Pay always puts me in a quandary of whether I want to just save the time or if it’s worth the hassle. From my experience it seems like I run into a lot of Shopify-backed sites, so I’m not sure if this is due to inherent Apple Pay problems or if it’s that a widely-deployed solution doesn’t support it.

As far as I can tell, that's just poor design on Shopify's part. You can work around it by adding a discount code while checking out with a different method, bailing out, then going back through Apple Pay. It's kind of crazy that it's been broken for so long.

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

#216

Post by nottorp »

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,

It's a lot more convenient. All my cards support contactless but I'd still rather just pull out the phone.

The unique id per transaction (instead of the possibly hacked POS getting your actual card data) is just icing on the cake.

People are still surprised that it doesn't ask for the pin for transactions over the usual limit though.

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

#217

Post by lilyball »

bcrosby95 wrote: post #202
reaperducer wrote: post #158

Earlier quoted context omitted.

suggest that a "token" instead of a PAN is used for the transaction Maybe because people know the word "token" and don't know what a "PAN" is. Apple has built a trillion-dollar company by speaking at the level of its customers, not technobabble.

Your average customer doesn't know what either really mean.

I know that a "token" is some value that is used in the transaction. I still have no idea what a PAN is.

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

#218

Post by nottorp »

m0zg wrote: post #123

Meanwhile Fred Meyer, Costco and QFC keep resisting. It's ridiculous: I can pay for watered down beer with Apple Pay in a village deep in the bowels of Mother Russia (using my watch, no less), but not in a QFC down the street. Instead, Kroger launched its own "Kroger Pay" which has worse chances of taking off than a lead balloon.

You mean they don't accept contactless payments at all?

The seller's terminal does not have to know about Apple Pay for it to work, the phone just pretends it's a card.

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

#219

Post by lilyball »

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 think all of my cards have contactless now. I've used it precisely once, when I handed my card to the teller and they tapped it on the pad for me.

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

#220

Post by lsh123 »

ThePowerOfFuet wrote: post #191
TazeTSchnitzel wrote: post #153

Earlier quoted context omitted.

> What is generated per transaction is the EMV unpredictable number, but this is part of the EMV protocol and done for any EMV transaction. What about when magstripe emulation is in use, does Apple Pay support that in the US?

EMV is the antithesis of magstripe and the two have absolutely nothing to do with each other. Contactless EMV is NFC.

EMV transactions still use track data format from magstripe world to ensure backward compatibility.
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