“Coinciding with the recent announcement of Apple Pay, a new report from global consultancy Kurt Salmon shows consumers are well positioned to make the transition to mobile payments—with a little help from banks, payment networks and retailers,” Dennis Sellers reports for Apple Daily Report. “‘Apple’s entry into the field sends a clear signal that mobile payments are here to stay,’ says Michael Archer, a partner in Kurt Salmon’s Global Financial Services practice and co-author of the report.”
“The arrival of Apple Pay just ahead of next year’s mandated shift to EMV chip-and-PIN technology in the United States opens up new possibilities,” Sellers reports. “‘Replacing or upgrading payment terminals will be costly—about $7 billion across the country, according to our analysis,’ adds Archer. ‘But the opportunity now exists for retailers, service providers and banks to consolidate their mobile and EMV investments into one upgrade … We’re working toward a tipping point of broad adoption of this technology that, when it happens, will spell the most significant evolution in consumer payments in more than two decades.'”
Read more in the full article here.
Related articles:
The kids aren’t into PayPal as Apple Pay rules mobile-pay buzz – October 2, 2014
Bitten by Apple Pay, eBay gets 3 downgrades – October 1, 2014
Apple Pay arriving with iOS 8.1 this month, sources say – October 1, 2014
iOS 8.1 beta shows Apple Pay to work with Siri – October 1, 2014
Apple Pay: A semi-monopoly on the real killer app – October 1, 2014
Apple Pay casts shadow on PayPal Spinoff – October 1, 2014
How PayPal blew their chance to be an Apple Pay preferred partner – September 30, 2014
As Apple Pay rolls out, eBay plans to spin off PayPal business – September 30, 2014
The rush is on worldwide to support Apple’s revolutionary Apple Pay – September 19, 2014
Apple Pay set to radically change commerce – September 18, 2014
Banks race to gain Apple Pay advantage – September 16, 2014
Apple Pay triggers pure panic at PayPal, begets ‘dumbest ad campaign ever’ – September 16, 2014
Frightened PayPal slams Apple Pay in full-page newspaper ads – September 15, 2014
A year from now, when all the new mandated NFC terminals have been installed everywhere, the rush to buy iPhone 6S/Plus models will be even more staggering than this years.
But… but… but the Scamsucks Note 4 should have a credit card slot gap by then…
They already have a gap where the screen is that big enough to slip a credit card in. Maybe they could add a reader in there?
Although they’d likely be foolish to omit the NFC capability, the new terminals don’t have to have anything but an EMV card slot and keyboard. AFAIK, NFC is not a required thing.
Not even a keyboard, just a keypad to punch in the PIN.
Verifone includes NFC in their new smaller terminals, but not in the bigger terminals – it’s an add-on for the terminals with the 7″ screens on them. I’ve noticed Lowes and Target both installed the larger terminals without the NFC add-ons. IKEA on the other hand recently went with the smaller NFC enabled models.
So based on more good Apple news and enthusiastic services support let’s tank the stock again dumbvestors!! It seems many investors live in the Bizarro World.
Just goes to show that Apple’s stock price is more a product of manipulation by the elite few than market value.
So unless I get an apple watch (which I don’t want), or upgrade to the larger 6 or 6+ (which I disdain for the sizes) I’m basically shit out of luck, unless Apple designs something to work with the 5s for Apple pay. For the price of a small peripheral, Apple could make more money on Apple pay if they could make this work for the 5s. Develop a small lightning NFC dongle for the 5s.
Or how about a new iPhone using the 5s form factor? Nothing kills the elegance of the system like a dongle.
6 minus? 🙂
There is already a case for the iPhone 5 called the iCarte which is sort of an NFC dongle and it uses the Lightning port. There are a bunch of apps it works with.
Really? I wonder if this will work with Apple pay?