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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

#31

Post by Brakenshire »

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?

They’re claiming 5% of global card transactions, that surely can’t be true, there are quite a few developed countries where iPhones are not that common, and countries where other contactless payment systems are already widespread. And what about middle income and poor countries?

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

#32

Post by babypuncher »

judge2020 wrote: post #11
ksec wrote: post #6

They will accelerate if they could roll out Apple Card around the world.

I wonder why this is. Maybe it's because there's some limited number of markets outside the US Goldman Sachs can legally do business with? If so, I imagine Apple has to find a card partner for those other markets. Edit: I realize Apple Pay in other markets would be hard if they wanted to keep the 1%/2% daily cash feature due to transaction fee limits, as the other comment has said.

Places like the EU put strict limits on processing fees, making perks like Apple Card's 2% cashback non-viable.

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

#33

Post by cbhl »

avocado4 wrote: post #4

BART and Muni need to start accepting Apple Pay ASAP. You can already do it in the UK and many other countries. Adoption of technologies like NFC payments in public transport is a good metric to see how competent a local government is.

One tricky part of this is you'd need to reeducate users that contactless credit cards can also get charged -- so if you put a Clipper and a credit card in a wallet, you need to be careful to not accidentally pay twice.

Vancouver just enabled this on their transit system, and they had posters all over warning people to not swipe their whole wallet over the readers like they were used to doing.

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

#35

Post by snowwolf »

avocado4 wrote: post #4

BART and Muni need to start accepting Apple Pay ASAP. You can already do it in the UK and many other countries. Adoption of technologies like NFC payments in public transport is a good metric to see how competent a local government is.

And Apply Pay in London is even better as you don't even need to authenticate the payment.

https://www.apple.com/uk/apple-pay/transport/

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

#36

Post by sevencolors »

Cu3PO42 wrote: post #23
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, 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

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

#37

Post by whalesalad »

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…

That's an interesting viewpoint. Where do you live? I would imagine you live somewhere that is not along the coastline in the USA.

The only time I have ever run into any kind of social friction (percieved or actual) it was only around the time that it had just rolled out and everyone would groan and say stuff like "yeah, it says we do apple pay but it wont work"

But after those initial bumps it is really prevalent and easy to use. I never feel like I am inconveniencing anyone.

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

#38

Post by icebraining »

fierarul wrote: post #10
3fe9a03ccd14ca5 wrote: post #2

Apple is enough of a behemoth to finally drag this industry forward. I use Apple Pay whenever possible. Mostly because it’s fast and secure. And I don’t mean “fast and secure” like a marketer, but actually fast and actually secure. I can’t believe that the best thing the credit industry could come up with was chip and pin. Slow, insecure[1], and awful experience. Begone, parasites. 1. https://www.kaspersky.com/blog/c…

In Romania we have Visa PayWave for years. For small amounts you just wave the card in from of the POS and you are done. For bigger amounts you are asked your PIN and I find that reasonable. I don't see how waving my watch in front of the POS would make this easier, it would actually be more cumbersome depending on how the POS is presented.

Exactly. PayWave and PayPass are both a decade old, and I'm already on my second contactless card.

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

#39

Post by notJim »

Cu3PO42 wrote: post #23
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, 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 thought that you had a fixed number, but Apple generates some kind of unique code, which is sent to the terminal. I.e., the terminal doesn't see your actual number.

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

#40

Post by brlewis »

crooked-v wrote: post #21
fierarul wrote: post #10

Earlier quoted context omitted.

In Romania we have Visa PayWave for years. For small amounts you just wave the card in from of the POS and you are done. For bigger amounts you are asked your PIN and I find that reasonable. I don't see how waving my watch in front of the POS would make this easier, it would actually be more cumbersome depending on how the POS is presented.

In the US it's usually 'insert card into reader, then wait 30-90 seconds'. I don't know where the delay comes from, but Apple Pay is usually faster for me.

I'm in the U.S., and 2 of my 4 credit cards support contactless. One is Costco VISA, the other Discover.
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