“Apple Pay may be a small part of the tech giant’s portfolio, but since launching in October, it has quickly become the biggest driver of mobile payments for its partners, Robert Baird’s senior research analyst told CNBC on Friday,” Tom DiChristopher reports for CNBC.
“Apple’s cashless transactions service now accounts for two-thirds of all U.S. mobile payments, Baird analyst Will Power said. Whole Foods has seen smartphone transactions surge 400 percent since it integrated Apple Pay, and Apple now accounts for 80 percent of mobile payments at Panera,” DiChristopher reports. “‘There are still a limited number of vendors that are supporting it, but our expectation is that’s going to continue to grow just given the early success the early vendors are having with it,’ Power said in a ‘Squawk Box’ interview.”
DiChristopher reports, “Its success thus far is also a sign that Apple continues to out-innovate its competitors, he said, noting that Google has not introduced a mobile payment process into its Android operating system in any successful way.”
Read more in the full article here.
MacDailyNews Take: Real products, real innovation and real successes vs. perpetual betas, blatant knockoffs and pie-in-the-sky vapor.
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My credit union wrote to me today that they are still testing Apple Pay and hope to roll it out in March. Two months ago they were going to roll it out in February.
Your credit union actually writes to you. Keep them.
Testing? I guess that they are going to find the ‘fatal flaw’ that 1800 other banks missed. They must be good.
Apple pay is safer than giving your credit card to the merchant because the merchant will never have your credit card # – just a tokenized transaction #. Therefore you are not at the mercy of any shady or lazy employees or merchants who might put your info at risk. This is a great service.
Oh. One on we all know that analysts are far more interested in real innovations like pervert glasses, self driving accidents and high flying plane obstacle courses than real workable things like Apple Pay. Might be why Apple’s new PR bods are more than happy to help perpetuate the car rumours.
Google/Samsung may eventually be forced to licence & buy the key Touch ID software and hardware from Apple.
😙 Wonder what the “Apple Touch ID Inside” would look like?
I attended the opening round of the Northern Trust PGA Open in Los Angeles yesterday and was pleasantly surprised to see that Apple Pay was being accepted at the concession stands under the MasterCard banner. Very cool.
Out-innovate? Google Wallet has been around for years and the only reason it never was fully implemented on Android phones was because of the carriers. Verizon, AT&T and Tmo all went all in on ISIS/Softcard and blocked wallet from most every phone they sold.
I have used Wallet for a few years and will admit that I can use it more places now that it uses the EXACT same technology as apple pay which has become popular, but I don’t see how apple ‘out-innovated’ their competitors. Blame the carriers first and the fact that Apple has marketed the hell out of apple pay as the difference.
” it uses the EXACT same technology as apple pay”
What are you smoking? Better skip the drug testing, you’ll get nailed.
“it uses the EXACT same technology as apple pay ”
It uses a subset of the technology that is in Apple Pay, not all of it, not the critical and important parts, nor is it implemented the same way. I could use the “EXACT” same ingredients as a master chef, that does not mean our end products will look or taste the same. Ingredients are only a small part of a recipe.
No it doesn’t.
Fingerprint.