Digital Transactions Authoritative, insightful and timely information for payments professionals
What’s that big, juicy new target out there for cyber-hackers? Apple Pay, of course. And don’t forget ATMs, either, since many deployers have yet to upgrade machines running old, increasingly vulnerable versions of Microsoft Corp.’s Windows XP operating system. Apple Pay and ATMs are included on Woburn, Mass.-based data-security services …
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The Apple Pay of Its Day
The Gimlet EyeWhen Apple Inc. unveiled its Apple Pay mobile-payments service in September, and again when the service went live in October, the hype surrounding the new product—coupled with its fast uptake—put us in mind of another highly anticipated payments launch that took place almost 25 years ago. It, too, …
Read More »How Apple Pay Gets It Right
Payments 3.0 What Is Apple Pay? Apple Pay sticks to Apple Inc.’s basic device-centric model, putting the functionality in the thing purchased from Apple and eschewing re-selling information about the buyer/user. As with any other iPhone or Mac (or the Lisa for that matter), the company’s profit comes from selling …
Read More »Apple Pay: What’s in It for Acquirers?
AcquiringBy Jim DalyVolumes have been written about how Apple Pay benefits, or doesn’t benefit, consumers, merchants, card issuers, and even payment networks. But what about merchant acquirers? Train a cold eye on the new Apple Pay mobile-payment service for Apple Inc.’s recently introduced iPhone 6 models and the upcoming Apple …
Read More »Why It’s Different With Apple Pay
Acceptance of mobile wallets by consumers will rely on superior data security, shifting demographics and purchasing patterns among shoppers, the looming EMV deadline, and Apple’s ability to add more value-added services, says Steve Cadden. It’s now been several weeks since Apple Inc. announced Apple Pay, and those of us in …
Read More »Issuers’ Apple Pay Pact Assigns Remarkable Authority to Card Networks As Well As Apple
Issuers signing up to have their cards included in the Apple Pay wallet may benefit from all the hype Apple Inc. is generating for the new mobile-payment service. But behind the scenes, the 500 or so financial institutions that have enlisted in the program so far are also signing up …
Read More »Would-Be Apple Pay Users Disappointed When Rite Aid Apparently Turns Off NFC
By Jim Daly As a complex new technology-based service, Apple Inc.’s Apple Pay was certain to hit some speed bumps after it debuted Oct. 20. Sure enough, reports of glitches surfaced, such as about 1,000 double charges on Apple Pay transactions funded by Bank of America Corp. debit cards. But …
Read More »With New Perkwave App, Harbortouch Leverages Apple Pay for a Pay-at-Table Solution
With Apple Inc.’s Apple Pay mobile-payments platform launching Monday, many in the payments business are focused on the contactless technology’s potential to change in-store payments behavior. But Apple Pay works within apps, as well, opening up an even wider variety of markets for Apple, including sit-down restaurants. Harbortouch, an Allentown, …
Read More »Apple Pay Works, But It Can’t Speed up Lines of Non-Users
The big news about my test today of Apple Pay, the contactless payment scheme for use with Apple Inc. smart phones and tablets, is that there was no big news. It worked. Each transaction on the first day of availability went through quickly, with a notification popping up on …
Read More »Apple Pay Goes Live Monday, As Apple, Samsung Join ETA
The date is set. Apple Inc.’s Apple Pay mobile-payment scheme, now with more than 500 banks supporting it, launches Monday, the Cupertino, Calif.-based company announced Thursday. Apple Pay is a payment scheme that has two components. One, available only in the iPhone 6 and 6 Plus, uses a near-field …
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