Apple Pay is off to an excellent start, according to Tim Cook and the rest of the company’s top brass. But a recent study found that the majority of users are having issues using the mobile payments service at checkout.
Apple Pay has quickly become the most-used mobile wallet solution in the world, but finding businesses that accept it still isn’t all that easy. To help ease that pain, Apple launched a website today that offers free Apple Pay decals that participating merchants can apply to their registers and windows.
Apple Pay might be taking over the world of mobile payments, but as with any new technology there are scammers looking to misuse the service. In the United States, criminals are reportedly using Apple Pay to buy expensive goods, often from Apple Stores, using stolen names and identities.
“I was surprised by the irony, but not by the fact that Apple as a merchant is seeing Apple Pay fraud,” Drop Labs commerce and fraud expert Cherian Abraham tells Cult of Mac. “As a luxury retailer it’s not a surprise that they are a retailer of choice to commit fraud.”
Abraham says banks are scrambling to solve the problem, which is already running into tens of millions in losses for financial institutions. Asked how widespread Apple Pay fraud is, he describes it as “rampant.”
The question of when European iPhone owners can expect to start using Apple Pay may be answered sooner rather than later. Visa Europe has announced that it is putting in place the infrastructure to allow contactless payment terminals to support the “tokenization” service used by Apple Pay.
The technology will be in place by mid-April, after which Apple could theoretically introduce Apple Pay anytime it wishes.
Samsung has bought its own Apple Pay competitor with LoopPay, a U.S. startup that makes cases and accessories for wirelessly transmitting card data with a magnetic signal.
First rumored back in December, Samsung will allegedly integrate LoopPay’s technology into its upcoming phones in an effort to ride the growing mobile payments trend created by Apple Pay.
Apple Pay is less than six months old, and already it’s taking over the mobile payment world. The latest convert? Early adopter Staples, which announced yesterday that it is already seeing 30 percent of all purchases made through its iOS app made using Apple Pay.
“Right now it’s the number one payment method for us in our iOS apps,” said Prat Vemana, vice president of mobile commerce for the stationary company, speaking during a panel discussion hosted in Seattle on Tuesday.
Touch ID has completely changed security on the iPhone, and now Apple’s fingerprint-scanning technology could soon be coming to the Mac.
Apple is planning to bring Touch ID to the upcoming 12-inch MacBook Air, according to sources at Taiwanese Apple blog Apple.Club.tw. In the past, the site successfully leaked the iPad Air 2 logic board, the Touch ID sensor and the iPhone 6 Lightning port, so it has a track record for accuracy. The site claims Apple has big plans for Touch ID in 2015 and wants to put it in everything from MacBook Pros to Magic Mice.
Apple wasn’t kidding when it said Apple Pay would transform mobile payments. Built around easy of use and security, Apple Pay is the industry’s first solution that benefits users and banks.
The security aspect of Apple Pay has been especially crucial to its early success, and now the big credit card companies have been spurred to follow suit. Today both Visa and MasterCard announced new security initiatives to protect against cyberattacks. Visa in particular has borrowed one of Apple Pay’s key ideas: tokenization.
Apple Pay has already become the top mobile wallet at a number of stores, but now Apple’s about to take on the great outdoors.
During his address at today’s White House cybersecurity summit, Tim Cook said that starting in September you’ll be able to use Apple Pay for transactions with the federal government, including paying fees to get into Yosemite and the other national parks.
Cook’s visit to the summit was a big win for Apple Pay, which Cook says is now supported by more than 2,000 banks, putting us one step closer to the age when your wallet will be a thing of the past. The White House has given Apple Pay its stamp of approval, too, and announced plans to enable it on all federal-payment cards.
Although Apple Pay has seen rapid adoption, it’s still only technically available in the United States. Credit cards issued by U.S. banks have been reported to work with NFC terminals around the world, but no international banks have supported the mobile payments solution yet.
Apple is already working on rolling out Apple Pay in Europe and China, and now it’s been reported that the company is in talks with banks in South America.
Life at Apple has been phenomenal ever since Tim Cook took over as CEO. AAPL shares are up 120 percent. 750 million iOS devices have been sold. $100 billion was returned to shareholders. And Apple just became the first $700 billion company in history.
To celebrate a successful 2014 campaign, Cook sat down with Goldman Sachs President Gary Cohn today to talk about how Apple achieved its unbelievable results, as well as what other tricks the company has up its sleeves.
Here are the 12 biggest revelations from Cook’s Goldman Sachs tech conference appearance:
Touch ID is going to get a big upgrade in the next iPhone, according to a new rumor from reputable Apple analyst Ming Chi-Kuo.
In his latest note to investors, Kuo says Apple plans to upgrade the fingerprint scanning technology in its Touch ID module this year to reduce the number of reading errors and offer a “better and safer Apple Pay user experience.”
Apple Pay has already become the fastest growing mobile wallet but the only thing holding it back is the limited number of retailers that accept it. A new study has found that PayPal is still leading the mobile payments race with 13% of retailers accepting it more than any other alternative payment type.
Boston Retail Partners surveyed the top 500 retailers in North America and found that only 8% currently accept Apple Pay, but Apple’s mobile wallet is expected to make a big push this year and take the top spot with nearly 40% of big shops in the U.S. accepting Apple Pay by the end of 2015.
Here’s the full breakdown:
The hope with Apple Pay is that everywhere there are financial transactions, there will be Apple’s mobile payment solution — and, yes, that includes the sky.
Starting next week, passengers on select JetBlue Airways flights will be able to pay for food, drinks and assorted on-board amenities (such as upgrading seats) using their iPhone 6 and 6 Plus. This gives JetBlue the claim to fame that it is the first airline to accept Apple Pay at 35,000 feet.
Apple’s release notes for the first iOS 8.3 beta don’t mention any new features, but we’ve combed through the just-released update to discover a number of goodies.
iOS 8.3 won’t overwhelm you with new features, but if you love CarPlay, emojis and Apple Pay, you’ll enjoy a couple surprises.
Here’s everything that’s new in iOS 8.3:
I’m a total sucker for ads which jump back in time to show how things have changed over the years, and that’s exactly what American Express has done with its latest commercial for Apple Pay: showing how Apple’s mobile payment technology is, in fact, just the latest in a long line of innovations used for making financial transactions easier.
The ad features archival appearances by famous AmEx cardholders ranging from Jerry Seinfeld and Jim Henson to Tina Fey, for a mashup ad that is more fun than you’d ever expect from a credit card company.
It’s also another triumph for Apple Pay, which has now been promoted in ads by Capital One, MasterCard, Chase, Wells Fargo and Bank of America, among others. Check out AmEx’s ad after the jump:
Swatch Group AG isn’t planning to just roll over dead now that Apple is entering the timepiece market. Swatch announced today that it’s preparing its own smartwatch to take on Apple Watch, and it’ll be ready to launch in just three months.
Swatch CEO Nick Hayek was originally skeptical of the smartwatch revolution two years ago, but in an interview with Bloomberg, Hayek said his company is ready to throw its numerous patents into a smartwatch that won’t need daily recharging.
Apple closed its earnings call this afternoon after announcing an unprecedented 74.5 million iPhone sales to go along with $74.6 billion in revenue and $18 billion in profits. It broke the record for the most money made by a corporation in history.
While breaking down the Q1 2015 numbers, Tim Cook and CFO Luca Maestri also gave us some juicy details about what’s in store for 2015 by hinting at new products in the pipeline, as well as subtly dropping the Apple Watch’s release date.
We’ve combed through the numbers and the conference call and found seven huge new revelations every Apple fan needs to know:
Post-Apple Pay, everyone is looking to Cupertino when it comes to innovation in the mobile payment sector. eBay is no different — with the online auction company starting up a new division, designed especially to develop payment-related technology.
And wouldn’t you know it? It’s filling it with ex-Apple folk.
When Tim Cook unveiled Apple Pay last year, the company hailed it as a simple contactless payment solution that also brings extra security to credit cards. Except according to one report, Apple Pay is actually making it easier for scammers to commit credit fraud.
Apple Pay’s security problem has nothing to do with Touch ID, NFC, Apple’s secure element, or stolen iPhones. All of that is locked down as tightly as Apple advertised. The problem, according to an unconfirmed report from DropLabs, is that Apple Pay is so easy to use, fraudsters don’t even have to create a physical fake card anymore.
Apple Pay has already invaded MLB stadiums and NBA games, but next up on the list of major sports to accept Apple’s contactless payments system will be golfers.
The city of Phoenix is gearing up to host the Super Bowl this week, but the PGA is hoping to steal a little thunder with the revelation this morning that Apple Pay will make its first ever debut on the golf course at the 2015 Waste Management Phoenix Open this week.
LAS VEGAS — Apple Pay is cool, but what if you don’t have the latest iPhone 6? The Plastc Card might be for you.
Plastc is a chameleon-like electronic card that stores up to 20 cards — debit, credit, gift and even security cards.
It’s the same size and shape as a regular card, but has a sharp and striking e-ink display. You simply swipe through the e-ink screen to choose the card you want, and swipe the mag stripe through the reader.
Instead of carrying 20 cards in your wallet, you carry just one.
We’re just one week into 2015, and already the App Store is setting new sales records. Apple today announced that during the first week of January alone, customers around the world spent almost half a billion dollars on apps and in-app purchases, with New Year’s Day 2015 the single biggest day in App Store sales history.
This week, on our maiden episode of 2015: The story of an iOS developer who gave a gift so generous, it went viral; discovering new apps and podcasts on iTunes is an awful experience, but we know how to fix it; plus, how Steve Jobs contributions helped rebuild a struggling Disney…
And stay tuned for an all-new CultCast 2nd Hour, where pro photographer David Hobby shares his favorite tips and tactics for taking great travel photos, his bag-worthy gear, plus his street photography advice will help you not get punched…
Our thanks to lynda.com for sponsoring this episode! Learn virtually any application at your own pace from expert-taught video tutorials at lynda.com.
Full show notes ahead!
Apple Pay is a pretty seamless service for the most part — until you have to restore your iPhone, that is.
Over on the Apple Support Communities forum, a number of users are complaining that they’ve been unable to add credit cards back into Apple Pay after performing a factory restore — despite the fact that doing so should remove their cards completely.
When users try and reload their cards, they receive a message saying, “Could not add card. Try again later or contact your card issuer for more information.”