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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

#271

Post by intopieces »

sambroner wrote: post #18

This is quite impressive, although inconclusive... Apple Pay currently accounts for 5% of credit card payments (from article), but, more importantly, this does not include non-card transactions like WeChat! Still, I think that Apples deep ecosystem integration will ultimately allow them to make a really compelling payments platform. The existing work on the Apple Card is surprisingly compelling. By just offering some…

>this does not include non-card transactions like WeChat!

This is common in these articles. For some reason the west is entirely unaware of WeChat, despite it being massive in terms of userbase. I'm starting to see restaurants in the Bay Area that take either Cash or WeChat... no Apple Pay in sight.

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

#272

Post by tzs »

judge2020 wrote: post #20
jhenkens wrote: post #9

Earlier quoted context omitted.

I have actually started preferring 76 stations because they all support the 76 app which lets me pay without credit card. My card was skimmed (and recreated into a new physical card!) earlier this year, which almost certainly happened at a gas station.

I find myself using these systems more as well. Publix, Kroger, and Walmart all have respective apps where you can scan a QR code on the screen (for both non-self-checkout and self-checkout) and pay using a card on file. Although, I think I use them only because they've chosen to not support Apple Pay and other mobile payment providers.

I'd continue using the Walmart app to pay in their stores even if they did start supporting Apple Pay on their terminals.

That's because those sales show up as being in the "online shopping" category for my credit card despite actually taking place in store, and I've got a card with very good cash back rewards for online shopping.

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

#273

Post by JimDabell »

ec109685 wrote: post #251
reaperducer wrote: post #174

Earlier quoted context omitted.

pulling my phone out > hold near reader > phone says get face closer > double tapping the lock screen button which is kind of out of the way on my iPhone 11 You're doing it wrong. Pull phone out → double-click wallet button → Authenticate face → Hold next to reader → done.

Apple should really provide a tip when you have done it the wrong way multiple times. I too didn’t know that was a better sequence.

The phone tells you the sequence every time. You double-press the button, it shows the FaceID prompt. You authenticate with FaceID, it tells you to hold it near the reader.

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

#274

Post by MXfive »

lilyball wrote: post #217
bcrosby95 wrote: post #202

Earlier quoted context omitted.

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.

Primary account number, the 16 digit card number.

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

#275

Post by commandar »

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…

>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.

This is literally the first time I've heard a use case that would actually make me care about contactless versus a swipe/insert. Grabbing my phone off the RAM mount would be considerably easier pulling my gloves off and trying to fish out my wallet.

In the past, I've always been incredibly apathetic toward the "convenience" factor of contactless, but that's a real -- if niche -- win.

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

#276

Post by onedognight »

reaperducer wrote: post #174
ProfessorLayton wrote: post #107

Earlier quoted context omitted.

Agreed, I use Apple Pay semi-frequently, but in my experience the ergonomics taken a step back since I upgraded my iPhone. I went from pulling my phone out of my pocket with my thumb already on Touch ID > hold near reader > paid to pulling my phone out > hold near reader > phone says get face closer > double tapping the lock screen button which is kind of out of the way on my iPhone 11, and I've locked the screen ina…

pulling my phone out > hold near reader > phone says get face closer > double tapping the lock screen button which is kind of out of the way on my iPhone 11 You're doing it wrong. Pull phone out → double-click wallet button → Authenticate face → Hold next to reader → done.

Your flow misses a critical point. You can have a long pause after FaceID, but before tapping. This means that you can, say, authenticate while the grocer is ringing up each item, sit there until they finish, and only then tap.

Pull phone out → double-click wallet button → Authenticate face → Pause for a long time → Hold next to reader → done.

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

#277

Post by nwatson »

davidmurdoch wrote: post #178
kelnos wrote: post #43

Earlier quoted context omitted.

I've gradually started getting over my similar feeling-like-a-dick sentiments. I definitely always have the worry that it's not going to work (Google Pay for me here, though), and occasionally I'll fumble to hold my phone in exactly the right way for the particular card reader I'm presented with. I still also feel like if I hand a card to a cashier, and it isn't working right, I implicitly blame the store or their eq…

Same here (Google Pay). I've tried a handful of times over the past 2 years or so and it has never worked for me.

Works for me almost everywhere in North Carolina.

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

#278

Post by kelnos »

Marsymars wrote: post #232
kelnos wrote: post #57

Not to hijack, but I'm really curious to see how this compares with Google Pay adoption and growth rate. Devices capable of Google Pay are likely more prevalent (well, maybe; there could be a lot of old Android devices out there that don't support it), but I wonder if there are similar trends as with the Apple App Store and Google Play Store, where customers of the former are much more likely to spend money. It would…

Devices capable of Google Pay may be more prevalent, but banks are less likely to support Google Pay. (Some of which is due to the fact that on Android, unlike iOS, it's possible to roll your own NFC payment app, so some banks insist on building their own trashy payment apps rather than supporting Google Pay.)

I'd be curious about that as well: the actual bank support numbers. I'm just one data point, but all of my cards (even my bank's debit card) are supported by GPay, even though all of them also have a dedicated app. I've never tried to use the dedicated apps for NFC payment, though, so I'm not sure if they have that feature.

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

#279

Post by bret791 »

needusername wrote: post #71
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…

> It rolls a new number every time I use it, so i can pay at sketchy gas stations at 2 AM Nope. That's deliberately confusing Apple marketing. You get one PAN per device. The new "number" is just the EMV unpredictable number. You get that with any EMV card. https://emvlab.org/emvtags/show/t9F37/ > and not care about skimming. Because the PAN is only valid for online authorized EMV transactions.

Mostly there, you get a tokenized PAN (DPAN) for every card enrollment. Remove, and re-add a card to your digital wallet and you'll get a new DPAN.

The unpredictable number is an (of a few) inputs into the generation of the CVV3, which is also based on a dynamic key from the issuer. Key rotation is on the order of weeks to months (depending on issuer). This is the "unique number" per transaction (part of tag 57 https://emvlab.org/emvtags/show/t57/ )

DPAN is only good for card-present transactions, provided CVV3, transaction counters, etc.

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

#280

Post by JimDabell »

ticmasta wrote: post #182
taurath wrote: post #19

5% at the moment seems like an incredibly high number to me, at least in the US. I looked it up here, where the stats say a different number: https://www.pymnts.com/apple-pay-adoption/ Also latest is about 51% of merchants have compatible equipment. 1.1% of sales is apple pay. Also usage numbers have gone down from 2018 to 2019. Seems like a puff piece to me?

5% growing to 10% just sounded crazy to me. For this to be true every iPhone user has to be making a butt-load of purchases and always using Apple Pay. I haven't seen any numbers that would back up this level of adoption.

They don't have to be large purchases, just everyday routine stuff. For instance, going to work, somebody might get a bus and a train. That's two transactions per trip, four transactions per day, 20 transactions per week. 25 if they grab a coffee on the way to work. 30 if they buy lunch. You're looking at ~1,500 transactions per year just for one person with this routine, even if they don't use Apple Pay for anything else. There are about a billion active iPhones out there, it doesn't take a large proportion to start using Apple Pay more to account for a huge number of transactions.

As soon as a city rolls out NFC support for public transport, that's going to be an instant boost of millions of transactions per year, because anybody with a smartphone or smartwatch doesn't have to bother with the hassle of buying tickets or topping up a transit card any more, they just have to wave their watch at the reader. Compare a transit card, where people typically top it up for weeks at a time with a single cash or credit card transaction, to Apple Pay, where there's at least one transaction every single day you travel.

I'm used to living in places where NFC support in public transport is ubiquitous, and when I visited San Francisco recently, it felt like I was living in a time warp having to mess around with a Clipper card. BART has ~125 million trips per year. How many transactions per year do you think Apple Pay will be boosted by when BART finally supports it? And that's just one single location for one use case.

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