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Apple Pay

906 'Apple Pay' stories April 2013 - September 2014
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Apple Pay is Apple’s mobile payments solution that allows users to seamlessly use their phone to pay for purchases both in retail stores, apps, and the web. The service was first introduced in 2014 and has been expanding to additional countries ever since then.

The service works in retail stores by simply holding your iPhone over a compatible checkout terminal and authenticating the purchase via Touch ID, or your Apple Watch with no further authentication required once you have unlocked the Watch. It’ss compatible with all iPhones from 6/6 Plus and and beyond, and all versions of Apple Watch.

In apps, it works by pulling in your card information and seamlessly allowing you to checkout using that card information. This prevents you from having to manually enter your card information every time you want to make a purchase. In addition to working with all of the iPhone models previously mentioned, Apple Pay in apps also works on iPads from the iPad mini 3 and Air 2 and beyond. Apple Pay is supported on the Mac and on the web with iOS 10 and macOS Sierra and beyond.

In addition to working with debit and credit cards, Apple Pay also works with rewards cards and store cards. This means that you can add something like your Starbucks card, Walgreens Balance Rewards card, and more to the Wallet app to easily keep track of everything.

To set up Apple Pay on an iPhone, open the Wallet app on iOS 11 and tap the plus (+) icon in the top right corner to begin, then follow the prompts. To add a debit card to the Apple Watch, go to the Apple Watch app on iPhone and look for the Wallet & Apple Pay section, then Add Credit or Debit Card section.

Apple Pay is the dominant mobile payments solution, even forcing its biggest potential competitor to shutdown, and as the service continues to expand, it will only get better. View the full list of retailers and banks that support the service on Apple’s website

Apple Pay is available in the following countries (click the country name to see compatible banks):

Australia

China*

Hong Kong

Japan

Kazakhstan

New Zealand

Singapore

Taiwan

Belgium

Czech Republic

Denmark

Finland

France

Germany

Guernsey

Ireland

Isle of Man

Italy

Jersey

Monaco

Norway

Poland

Russia

San Marino

Spain

Sweden

Switzerland

Ukraine

United Kingdom

Vatican City

Brazil

Saudi Arabia

United Arab Emirates

Canada

The United States

PayPal takes a swipe at Apple Pay security over iCloud celebrity photo leaks

Avatar for Zac Hall Sep 15 2014 - 2:27 pm PT
56 Comments
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PayPal appears to be calling out Apple and its newly announced mobile payment service Apple Pay with an ad appearing in The New York Times print edition (via Pando Daily) indirectly reminding people of last month’s disastrous iCloud photo leak when a list of celebrities found their personal photos an intimate situations published on the web. The ad reads “We the people want our money safer than our selfies,” but PayPal isn’t without its own security issue in the past.

Apple already has over 500 million iTunes account with most having credit cards, the company says, and iCloud features like iCloud Keychain manage and utilize credit card data for auto-completing credit card information.
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Apple joins secure chip standards and NFC group GlobalPlatform ahead of Apple Pay release

Avatar for Zac Hall Sep 15 2014 - 1:27 pm PT
12 Comments
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Ahead of Apple’s entry into the mobile payment space next month with the release of Apple Pay for iPhone 6 and iPhone 6 Plus users, Apple has joined the GlobalPlatform, the non-profit association focused on standards for secure chip technology across various industries, as a full member.

Existing members of GlobalPlatform include various Apple partners and competitors alike with carriers AT&T, Sprint, and Verizon being members as well as handset makers Samsung and BlackBerry. More importantly, Apple Pay partners American Express, MasterCard, and Visa are also members; Discover, which is not yet an Apple Pay partner but has said it is discussions over participation with Apple, is also a member.
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Apple Pay may mean the end of physical bank cards within 2-3 years, argues Moven CEO

Avatar for Ben Lovejoy Sep 15 2014 - 4:48 am PT
44 Comments
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While we’d all expected plastic bank cards to be replaced by apps eventually, the CEO of mobile banking startup Moven is suggesting that Apple’s backing could mean the end of physical bank cards within 2-3 years.

The additional sweetners here are three fold. Firstly, tokenization will avoid much of the type of breaches we’ve seen at Target and Home Depot because the token is only a one-time use thing. Secondly, the move to tokens and the combination of biometrics, etc allow for the emergence of a ‘cardholder present’ approach to interchange rates that will potentially give mobile payments a competitive merchant rate. Lastly, the US might effectively jump straight from magstripe to mobile, especially if issuers can figure out how to reduce the cost of card replacement by moving straight to mobile SE and tokens …


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Part one of Charlie Rose’s full interview with Tim Cook now available online

Avatar for Benjamin Mayo Sep 13 2014 - 5:58 pm PT
24 Comments
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The first half of the Tim Cook interview with Charlie Rose is now available to watch — in full — on the CharlieRose.com website. Cook discusses the thinking behind the Watch, purchasing Beats, partnering with IBM, how he and Steve Jobs discussed Cook becoming CEO and much more. Bitesize highlights were posted a few days ago. The video is embedded below, although may not be available to view in all countries.


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Square and Apple acquisition talks reportedly fell apart over pricing disagreements

Avatar for Mike Beasley Sep 12 2014 - 3:01 pm PT
33 Comments

TechCrunch is reporting today that Apple and mobile payment processor Square were briefly in talks about a possible acqusition. The talks didn’t get far, it seems, as the two companies couldn’t reach an agreement on how much Square was actually worth. Eventually, Square walked away:

Separately, TechCrunch has heard that Square and Apple were in acquisition talks, but that Square walked away. Apple wanted the company to come aboard, but the discussed price was a sticking point: Apple wanted to buy Square for around $3 billion, one source said. Square, valued at the time at a firm 66 percent delta to that price point, declined to accept.

It’s interesting to consider what Apple Pay might have looked like if the merger had gone through. You can read the more over at TechCrunch.

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Why Apple timed things perfectly with the launch of Apple Pay

Avatar for Ben Lovejoy Sep 12 2014 - 5:53 am PT
32 Comments

After years of annual rumors that each successive iPhone would feature NFC, there was understandable skepticism when the rumor rolled around again this year for the iPhone 6. It was looking like Apple might have put all its short-range communication eggs in one basket with Bluetooth LE.

Instead, of course, the iPhone 6 and 6 Plus got NFC as the mechanism for Apple’s contactless payment service, Apple Pay. Pando suggests that the company’s timing may not be entire coincidental.

While U.S. banks have so far ignored the more secure chip-and-pin cards used in Europe, sticking doggedly to magnetic strips and signatures, all that will be changing next year. As of October 2015, banks are switching to chip-based cards – and that means merchants will need to upgrade their payment terminals.

You can still get chip-reading terminals without NFC, but it’s likely that the vast majority of stores will opt to go contactless at the same time. Which means that instead of the 220,000 places you can use contactless payment today, there will be much closer to nine million outlets by this time next year – and you’ll be able to pay with your iPhone 6 at any of them.

U.S. card issuers are already pushing Apple Pay, MasterCard running a full-page ad in today’s New York Times (via Business Insider).

Most analysts satisfied with Apple’s announcements, think AAPL stock will climb

Avatar for Ben Lovejoy Sep 11 2014 - 7:16 am PT
8 Comments
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Big-name analysts seemed satisfied with what they saw and heard during Apple’s launch of the iPhone 6, Apple Watch and Apple Pay, reports Forbes. Summarising investor notes from a dozen major companies, Chuck Jones found the general feeling was that Apple had delivered what was expected.

The overall average of AAPL stock price targets was $109, against the current price of just over $100. Analysts pointed to a range of factors in forming their views, among them … 
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Apple Watch uses constant skin contact to validate Apple Pay purchases

Avatar for Stephen Hall Sep 10 2014 - 5:29 pm PT
32 Comments
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A couple of reports yesterday and today have highlighted a little tidbit of information many have been wondering about the upcoming Apple Watch: How will the device make sure payments via Apple Pay are secure? Both the iPhone 6 and iPhone 6 Plus have the convenient Touch ID sensor to validate that your purchases are indeed being done by you, but new information suggests that the Apple Watch is going to accomplish this security in a slightly different way…


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Apple demonstrates just how quick & easy Apple Pay is to use [Video]

Avatar for Ben Lovejoy Sep 10 2014 - 3:55 am PT
32 Comments
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[youtube=https://www.youtube.com/watch?v=4I9MbIrlEUw]

After launching its new mobile wallet service Apple Pay during yesterday’s keynote, the company gave demos afterwards, TechCrunch sharing a video.

The card you have registered with your Apple ID becomes your default card, but you can add others by using the camera on the iPhone 6 to identify it. The iPhone requests permission from your bank, and the card is then added to Passbook … 
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Apple’s iPhone 6 and Apple Watch event is now available for replay

Avatar for Sep 9 2014 - 1:03 pm PT
21 Comments

Update (9/10 7:30am): Apple has posted the entire 2 hour 4 minute Keynote as a free HD video download (1.40GB) on iTunes.

Update (9/9 7:50pm): It’s back!

Update (9/9 7:00pm): Looks like Apple is having even more issues with the stream. We’ll let you know when it’s back.

This morning’s iPhone 6 and Apple Watch unveiling is now available for replay. There’s no doubt you probably missed a large chunk of the presentation due to video dropouts and random translators talking over presenters. Now’s your chance to enjoy the full Keynote presentation without any interruptions.

Top Apple execs each awarded 35,000 shares, worth up to $19M at today’s price

Avatar for Ben Lovejoy Mar 6 2014 - 4:43 am PT
7 Comments
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An SEC filing reveals that six of Apple’s top execs were each awarded 35,000 Restricted Stock Units (shares that cannot be immediately traded), with a current value of more than $19M. Of this, $12M is awarded outright, subject only to remaining with the company until at least April 2018, with a further $7M dependent on Apple’s stock performance.

The bonuses were awarded to Senior VPs Eddy Cue, Craig Federighi, Dan Riccio, Phil Schiller, Bruce Sewell and Jeffrey Williams. It’s likely that Jony Ive will receive the same, though his stock awards do not have to be reported to the SEC … 
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Four out of five highest-paid execs in the USA work at Apple

Avatar for Ben Lovejoy Apr 15 2013 - 4:21 am PT
0 Comments
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Senior VP of Technologies Bob Mansfield (Photo: Apple)

Bloomerg reports that four out of the five highest-rewarded execs in Standard & Poor’s top 500 companies are Apple execs. In all four cases, their base salaries are a relatively modest $805,400, with the balance paid in stock options.

The four Apple employees are Bob Mansfield, Senior VP of Technologies ($85.5m); Bruce Sewell, Apple’s lead lawyer ($69m); Jeffrey Williams, Senior VP of Operations ($68.7m); and Peter Oppenheimer, Chief Financial Officer ($68.6m) …
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