“American Express and Apple are companies with very similar styles. They’re both arguably the best and most exclusive with what they do, they’re both extremely well-respected, they both have stocks that have outperformed, and they’re both prestigious names,” Thom Lachenmann writes for Seeking Alpha. “So, it comes as no surprise to us that American Express would be one of the choices of credit card companies that Apple would seek out for help developing its mobile payments system. Re/code was the first to cite that the two companies would be working together on such a platform.”
“It’s said that mobile payments are going to be one of the major features revealed in the upcoming Apple event on September 9th,” Lachenmann writes. “There have also been reports of Visa and MasterCard working with Apple. Although the deal isn’t exclusive to American Express, we like the fact that Apple has brought them on board.”
“Just as Apple is our preferred technology company to invest in, American Express would be our staple in the credit card field. We believe that Apple is pioneering something here too. It’s only a matter of time before the whole world switches to digital wallets,” Lachenmann writes. “We like that Apple looks like it’ll be one of the first to implement this, and we like its partnership with American Express.”
Read more in the full article here.
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Apple working with NXP to bring pay-by-touch NFC technology in new iPhone – August 29, 2014
Apple’s ‘iPhone 6′ will include NFC mobile payments, sources say – August 28, 2014
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Apple patent reveals new iPhone antenna that adds NFC – May 22, 2014
Amex is not accepted widely in Europe
AmeX is not as widely supported in Europe as Visa and MasterCard, but IS WIDELY ACCEPTED. I have been a customer of AmEx going back over 30 years and lived in Europe for a number of years. No real problem.
Then there’s something wrong with Europe.
No surprise as they’re the same cowards bowing to Sharia law and allowing Vladimir Putin to willfully piss on their shoes.
Actually, I think you’ll find there’s something wrong with American Express in Europe, not the other way around. My medium sized business stopped dealing with Amex 7 years ago due to their outrageous fees. Business credit card payments made through Visa and MasterCard average around 0.7% per transaction and Amex for my company would be over 2.5% per transaction. Only PayPal is worse at around 3% (another company I refuse to use). I have no other real objection to using Amex, but a lot of small to medium sized businesses have been priced out of the market. This is the only reason Amex is not as popular as it could be in Europe, they just need to start offering much better value and stop living in the 90s, businesses are much more financially savvy these days, certainly in my business there’s no room unnecessary wastage.
I had a business in the US where I had the same problem with AmEx. It boils down to whether or not you want to deal with those high end customers or not, and for me, the answer was yes. I was disappointed the one time it was used in my shop, but with it being a large purchase, understood the difference there and then.
Exactly and in Europe it simply not so highly regarded so its fees less acceptable to us.
Personally wouldn’t touch it despite them handling me with offers all the time. Just not competitive this side of the pond, except as a status symbol for the self indulgent and even that cache has declined in recent years.
American Express is the best and the only card I use. I am happy to hear rumors that they will be part of a rumored Apple payment system. I just hope that any payment system gets rid of paper receipts too.
American Express Serve is probably a hint at some of what is to come shortly.
https://itunes.apple.com/us/app/bluebird-by-american-express/id566645291?mt=8
It would be moronic of Apple to not be talking to all of them – AMEX, Visa, MC & Discover. The system only works if they’re all involved.
The guy is just blabbering about stock trading. I was wondering how he was drawing a positive comparison between Apple and any financial services company, what with Apple actually having integrity and all. If I wanted to gamble, I’d go to Las Vegas, at least I’d be protected by the Nevada Gaming Commission.
I keep reading articles (here and elsewhere) that Apple is somehow going to use iTunes as the pass thru service for this iWallet rumor. So here’s my thought … then why are they talking to any credit card companies?
If they’re just going to some how connect iTunes payment services to an iWallet app, what do they need the credit card companies input for? It would just be another extension of iTunes …
Did they talk to credit card companies when they rolled out iBook Store, or APP Store?
The only “talking” I can imagine is Apple telling them that with a finger print sensor, at least the transactions will be more secure than the current contactless NFC transactions …
From a consumer perspective, I do hope they somehow connect an iWallet to iTunes – I would rather the credit card info be kept off of my device.
Really? Does anyone actually still use AMEX?
Why, um, yes, I happen to. Frequently, actually. I even use it for my iTunes account, coincidentally.
Preferred business card is AmEx – and the Frequent Flyer Miles are bomb diggity! My sister flew to Thailand this summer for nothing.
OMG, YES! I use it for absolutely everything! The Rewards program is fantastic. Their vigilance card activity is superb. With rampant identity theft, I appreciate their watchfulness. I bought a Groupon this morning and within 30 seconds, I got a TXT to my phone asking if it was me who made the $12 charge for Café Laufer for lunch with the girls because the card wasn’t present. AMEX rocks! They certainly make me feel more secure than BofA.
Yes! My AMEX Blue card is the only credit card I use! 🙂
AMEX is an Aspirational Brand, as is Apple. What would be interesting is if using Apple’s Digital Wallet idea allows AMEX to reduce its processing fee in order to entice smaller, cost-conscious merchants to get on board. That’s inherently a contradiction, but even if the fee is reduced for some introductory period (say, a year, to be generous, to encourage adoption), the usage rate would be massive.