Apple is truly determined to disrupt banking with Apple Pay

“Apple Pay is much more than a frictionless and secure payments service, Apple also thinks it will help accelerate the digital transformation of the banking industry,” Jonny Evans writes for Computerworld.

“Apple’s true intentions around Apple Pay are becoming easier to identify as the company goes through the Australian legal process in a disagreement with some (but not all) local banks,” Evans writes. “Apple points out that it has seen heightened competition in the sector in the U.S. and U.K. since launching Apple Pay… ‘Apple expects that, with a range of payment cards available in [its] wallet [product] in Australia, the same increase in competition is likely to occur in Australia as has been evident in these other jurisdictions,’ the submission said.”

Evans writes, “Apple’s already strong position in the mobile payments space means has a chance to provide additional fintech services, on its own or in partnership.”

Read more in the full article here.

MacDailyNews Take: We’re using Apple Pay more and more. Are you?

If not, would you be more apt to use Apple Pay if you received, say, $1 to spend at the Apple Store for every $100 you spent via Apple Pay?

As we wrote last August, imagine at the special media event to introduce the next-gen iPhone, Apple CEO Tim Cook said something like this:

And, of course, the new iPhone works with Apple Pay and, starting today, for every $100 you spend using Apple Pay, you get $1 off at Apple retail and online stores. So, spend $100 on groceries using Apple Pay, you get $1. Spend $300 on a plane ticket using the Delta app, you get $3. Use Apple Pay in your ExxonMobil Speedpass+ app to buy your gas. It all adds up! By the end of the year, you’ll likely have quite a discount on your next iPad, Mac, or iPhone!

Would you use Apple Pay more if Tim Cook said something like that? We know we certainly would. So would millions of people.

As we wrote in August 2015:

Apple, give us a reason to use Apple Pay beyond looking like tech dorks in front of the line at the register. What’s the incentive to use Apple Pay? There is none besides looking like a flaming nerd. As if Apple doesn’t have any money. That, inexplicably, is how they approach Apple Pay. Hello, Tim? Eddy? Talk to some people who actually go to stores and shop for things, please.

Incentivize its use! Give Apple Pay users a percentage of every dollar spent via Apple Pay to spend at Apple Stores. Something. Anything! Get people used to using it first. Sheesh. It’s really not that difficult. It really isn’t.

And, BTW: That was written before Apple Watch made the process so seamless that nobody in line (or the cashier, half the time) even notices how or that we paid, but we still think Apple should take some of tiny portion of their cash mountain and put it to good use incentivizing (and training) their customers to use Apple Pay.


  1. To answer MDN’s questions: NO and NO.

    Merchants around me say they take Apple Pay but when I try the cashier says “I don’t know how”.

    Other times I walk away unsure whether it went thru or not or if it double charged.

    Once the cashier was confused. I thought the payment went thru, walked away only to discover later that the payment did not go thru.

    Why would I bother even trying Apple Pay. My card works EVERY TIME.

    ‘nother problem: my registered cards sometimes disappear from my phone. What a hassle.

    1. Why would you even ask the cashier? If the terminal has this symbol on it, there’s a pretty good chance that Apple Pay will work.

      I was in New Zealand last month, and Apple Pay worked almost everywhere I went. And I’ve found it works in places where it’s not advertised in the US. When I see the contactless payment logo, I just old my phone up to the terminal. It lakes less than a second for the payment to register, if the merchant has turned on that feature of his terminal.

    2. Applepay is awesome.. Apple pay with Applewatch is double awesome …….. around where i am almost most small merchants accept it and more and more bigger chains are coming on board..
      No problem using it here.

      One thing i would love to see is ApplePay on gas pumps… it will be great !


  2. Yeah to answer the MDN question, NO and YES. Apple should have incentivized the service a long time ago, but stubborn Tim is missing the opportunity again (think AppleTV). The service needs to train people and cashiers to use it, which will only happen if they suck it up and sacrifice profits for a few years while they get the world to adopt, and get used to, a new way of payment. But the stubborn fat heads at Apple will likely never see this through.

  3. Apple Pay works well in the U.K. with many sellers having high spending limits. I’d use it everywhere if I could. Now Apple, when can I add those store reward cards to make it a truly cash and cardless system?

  4. It’s been interesting to see Apple focus more and more on things that generate consistent ongoing revenue and are more services related. Phone leases, cloud subscriptions, payment services, etc. As a stock holder this gives a more steady revenue forecast vs product launches and the associated spikes and dips that brings to their revenue.

  5. So far, very few of the places I’ve patronized have had Apple Pay, so I’ve only used it a couple of times. It seemed very quick and painless, whereas the new chip cards seem to take much longer to verify than Apple Pay, and much longer than the old swipe, although I think I appreciate the security of the chip. I will say, if I owned a business, I’d be all over Apple Pay.

  6. I am now able to use Apple Pay in my area for most of the places I like to go, which include fast food, movie theatres & even my local gas station, which recently was fitted for pay at the pump. The main reason I want to use Apple Pay is for the security features. Having said that, it is classic Apple-a delight to use and going forward one of their most important products.

  7. Yes, Yes. I use it as much as possible. I try it everywhere, but usually merchants are the roadblock. Hell, some of them, including larger chains, still use swipe, not even chip. The banking industry should pretty much force them to adopt, or levy heavy fines, any time a chip card is made to swipe. Say like a $10 fine per transaction. I bet less than a month would pass before your would see them comply.

  8. Since my credit card number, just the NUMBER, was stolen two times within 6 months, I’m for Apple Pay!! I know of a Mennonite bakery/restaurant way out in the sticks that accepts Apple Pay! I couldn’t believe it, considering the location. I asked them about it, they said no one had used it yet. But, if they can adopt Apple Pay because of they location, any place can!

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