Apple Pay: A semi-monopoly on the real killer app

“Apple (NASDAQ:AAPL) just announced its new iPhone 6 models and the Apple Watch,” J. M. Manness writes for Seeking Alpha. “Apple also announced what to my mind is the real killer app of the mobile space – Apple Pay. This is an app/service that will truly revolutionize the $13 trillion per year payments industry.”

“The savvy investor needs to understand both the import of the system and why the Apple Pay system is superior to all others and will stay that way,” Manness writes. “Apple will have a semi-monopoly on the system, and why it will always be superior to systems offered by competitors such as Google’s Android and Microsoft’s Windows Mobile.”

Manness writes, “A professional in the industry, Brian Roemmele, writes in Quora: ‘I have been studying payments for over 30 years and have tested every material payments system ever conceived. The Apple Pay experience is at the top of the pyramid of any system I have ever tested. Certainly there has been NFC in smartphones, there has never been a system where the software was native to the operating system in the manner Apple is using. Apple Pay makes all of the schemes from just about every payment startup over the last decade especially the last few years look cumbersome and almost comical in comparison.'”

Read more in the full article here.

MacDailyNews Take: As we wrote on September 10, 2014:

The market has yet to fully grasp the magnitude of Apple Pay.

[Thanks to MacDailyNews Readers “Fred Mertz” and “Dev” for the heads up.]

Related articles:
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
Wells Fargo brings revolutionary Apple Pay to customers and merchants – September 15, 2014
Apple gets 15 cents of every $100 Apple Pay purchase – September 12, 2014
Capital One partners with Apple on Apple Pay – September 12, 2014
Apple Bank is only a matter of time – September 12, 2014
The hidden brilliance behind the timing of Apple’s adoption of NFC – September 12, 2014
MasterCard SVP: Apple Pay trumps traditional credit and debit cards in security – September 11, 2014
Authorize.Net announces support for Apple Pay – September 11, 2014
Apple Pay’s myriad advantages over the $300 million Google Wallet flop – September 11, 2014
Apple Pay may boost sales of larger iPhones, hurt Android phone sales – September 11, 2014
Why Apple Pay will hurt PayPal – September 10, 2014
Apple Pay will demolish the barrier between online and offline shopping – September 10, 2014
Disney CFO: Apple Pay is a huge advantage – September 10, 2014
Pacific Crest: Visa, MasterCard, American Express boosted by Apple Pay – September 10, 2014
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


  1. Google will NOT copy Apple Pay. The beauty of the system is that no card data/number ever leaves your phone, never gets transmitted anywhere. There will be no servers to hack. Apple saves none of your purchasing information.

    That concept is totally anathema to the Google Way. What interest would they have in a system that does not troll your data? Anything they come up with will be completely different in focus and intent.

    Companies like Best Buy don’t like it because they WANT your data to dick around with. I’ve never liked them. Back in the day (I will never forget or forgive) they double-swiped my cc during a purchase, to surreptitiously sign me up for a “free trial” for Microsoft’s internet service. Imagine my surprise, 3 months later, to find a recurring monthly charge on my card for Microsoft Internet service. Yeah, some of these companies will continue to want to control your data- their intent will be glaringly obvious. And they will continue to be breached. Hopefully they will be left behind.

    1. Problem here is that the retail companies that deal with collecting their customer info do so via loyalty/member cards and not via your CC. Otherwise how would they get your info when you pay in cash and want the discount/points provided by the store. 😀

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.