Tag: apple pay

  • Yahoo Finance: Apple Pay sides with credit card industry over consumer interests

    Aaron Pressman wrote on Yahoo Finance about Apple Pay siding with the credit card industry over consumer interests. Apple has regularly delighted its customers with cool products on its way to becoming the most valuable company in the United States. But it hasn’t always stood up for its customers’ best economic interests. Let’s be clear…

  • Misconceptions about Apple Pay

    John Gruber wrote a commentary on a WSJ article about the effect of apps on the web. Christopher Mims, writing in the WSJ:: Take that most essential of activities for e-commerce: accepting credit cards. When Amazon.com made its debut on the Web, it had to pay a few percentage points in transaction fees. But Apple…

  • Why Apple Pay has little to fear from retailers

    Dan Frommer wrote on Quartz about why Apple Pay has little to fear from retailers. How CurrentC works: Because it’s designed to skirt the existing credit-card infrastructure, CurrentC’s current version only supports payments via checking accounts and certain store cards. And it comes with a questionable privacy requirement: To “confirm your identity,” CurrentC demands both…

  • CurrentC and antitrust implications

    Dave Mark wrote on Loop Insight about CurrentC and antitrust implications. Quoting from Reuters: Antitrust experts said CVS and Rite Aid have the right to drop a vendor if they believe they can save money by going around the credit card companies and Apple, both of which will take a piece of the action. But…

  • The real reason PayPal isn’t an Apple Pay preferred partner

    Bank Innovation reported on why PayPal isn’t an Apple Pay preferred partner. But while these talks were going on, PayPal went ahead and partnered with Samsung on the Galaxy S5 fingerprint scanner, a move that was reportedly forced onto PayPal by eBay CEO John Donahoe. PayPal’s now-former president David Marcus was purportedly categorically against the…

  • Apple Pay: an in-depth look

    TUAW wrote about Apple Pay. Remember that merchants in an Apple Pay transaction never have access to user credit card information and, as a result, users never have to worry about their information being compromised in a security breach. Further, security at the device level is effectively impenetrable as tokens, along with the encrypted keys…