“Apple’s announced mobile payment-technology strategy is consistent with our research, while the breadth of partnerships and focus on online and in-app e-commerce transactions surpassed our expectations,” Pacific Crest Securities’ analysts Josh Beck, Chad Bartley, and Evan Wilson write for Barron’s. “Positive for Visa, MasterCard, American Express, and Google. Negative for eBay. Mixed for Gemalto.”
“Apple Pay set[s] the stage for a major breakthrough in mobile payments,” Beck, Bartley, and Wilson write. “Apple has partnered with all of the major networks (Visa, MasterCard, American Express), eight of the top eight credit issuers, and over 200,000 merchants.”
“Visa announced a new innovative token service launch as well as CyberSource and Authorize.net integration today, which also reinforces our view that the company is well positioned to play a critical role in fostering mobile payments with Apple and potentially others like Google,” Beck, Bartley, and Wilson write. “Apple’s ambition in e-commerce (desktop and mobile apps) is greater than we had anticipated and represents increasing competition for PayPal. New token services and a more aggressive issuer and merchant stance in mobile payments could also benefit Google over time if it adds new token services to improve its security scheme.”
Read more in the full article here.
MacDailyNews Take: The market has yet to fully grasp the magnitude of Apple Pay.
Related articles:
Apple to rake in fees from banks with Apple Pay mobile payments platform – September 10, 2014
Visa teams with Apple on Apple Pay mobile payments platform – September 10, 2014
MasterCard partners with Apple to integrate revolutionary Apple Pay – September 10, 2014
TSYS supports Apple Pay – September 10, 2014
Apple announces Apple Pay mobile payments – September 9, 2014
So, is Discover Card asleep at the wheel?
NO.
Just dragging their feet. They will be in soon.
Or they’ll be like RIM and, by the time they wake up, everyone relevant will have disappeared over the horizon.
Or they will claim that they have the solid proven solution that no outsider can compete with, you know that line that RIM are still peddling.
“Alexander’s ambition […] is greater than we had anticipated” — spoken by hapless viziers as one kingdom after another is hellenised.
Substitute Apple for Alexander, industry for kingdom, and disrupted for hellenised. Viziers, always the same.