Apple Pay
I've been reading quite a bit in the mobile payments space over the last few months. Some stories are balanced, some are not. This one is excellent.
http://business.financialpost.com/fp-tech-desk/it-looks-like-apple-pay-is-failing-to-catch-on-with-a-lot-of-retailers?__lsa=5687-4454
Here is a snippet from the story:
In a January earnings call with investors, Apple Inc Chief Executive Tim Cook made a confident prediction: “2015 will be the year of Apple Pay,” he said.
Since then, the company has aggressively courted retailers – and claimed significant success. “We’ve spoken to all of the top 100 merchants in the U.S., and about half will accept Apple Pay this year, with many more the following year,” a company spokesperson recently told Reuters.
But interviews with analysts, merchants and others suggest that Apple’s forecast may be too optimistic and that many retailers remain skeptical about the payment system.
The story does a good job talking about this space in general as well as discussing Apple Pay. Well worth the read.
What I've been telling people is Apple Pay is really two things: (1) in-app purchases and (2) in-store purchases at point of sale. Apple Pay is doing very well in-app, but hasn't seen good adoption in-store. This does, however, allow the good folks at Apple to merely state something to the effect of 'Apple Pay is doing very well'.
Happy Reading,
J.W. Gant
Since then, the company has aggressively courted retailers – and claimed significant success. “We’ve spoken to all of the top 100 merchants in the U.S., and about half will accept Apple Pay this year, with many more the following year,” a company spokesperson recently told Reuters.
But interviews with analysts, merchants and others suggest that Apple’s forecast may be too optimistic and that many retailers remain skeptical about the payment system.
The story does a good job talking about this space in general as well as discussing Apple Pay. Well worth the read.
What I've been telling people is Apple Pay is really two things: (1) in-app purchases and (2) in-store purchases at point of sale. Apple Pay is doing very well in-app, but hasn't seen good adoption in-store. This does, however, allow the good folks at Apple to merely state something to the effect of 'Apple Pay is doing very well'.
Happy Reading,
J.W. Gant
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