How could #Apple monetize its digital wallet transactions in the future? A Former Head of Strategy for Apple Pay in Europe discusses Apple Pay's longer-term opportunities to expand its acceptance and drive its payments revenue: https://bit.ly/4c6eerR
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What's New to TheStreet... 🍏 The EU has concluded its long-running probe, stating that Apple’s decision to allow third-party mobile wallet and payment services to use the technology behind Apple Pay fully addresses its antitrust concerns. 📱💳 How do you think this change will impact the mobile payment landscape? 🌍🔍 Share your thoughts below!⬇️ 👉🏻Follow New To The Street for more! #technews #apple #applepay #innovation #businessnews #business #news #newtothestreet
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What's New to TheStreet... 🍏 The EU has concluded its long-running probe, stating that Apple’s decision to allow third-party mobile wallet and payment services to use the technology behind Apple Pay fully addresses its antitrust concerns. 📱💳 How do you think this change will impact the mobile payment landscape? 🌍🔍 Share your thoughts below!⬇️ 👉🏻Follow New To The Street for more! #technews #apple #applepay #innovation #businessnews #business #news #newtothestreet
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Apple shuts down its "buy now, pay later service" barely a year after launch! What's behind this surprising pivot? And what does this mean for the future of BNPL? My latest Medium article explores the rather more plausible answers: 𝘚𝘱𝘰𝘪𝘭𝘦𝘳: 𝘙𝘦𝘭𝘢𝘹, 𝘣𝘰𝘵𝘩 𝘉𝘕𝘗𝘓 𝘱𝘭𝘢𝘺𝘦𝘳𝘴 𝘢𝘯𝘥 𝘵𝘩𝘦 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘢𝘳𝘦 𝘢𝘭𝘪𝘷𝘦 𝘢𝘯𝘥 𝘬𝘪𝘤𝘬𝘪𝘯𝘨 🙂 👍 https://lnkd.in/dmysAF_b
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✨ Celebrating a Decade of Innovation: Apple Pay Turns 10! 🎉 Apple Pay, first introduced in 2014, has revolutionized the way we make payments with just a tap. 📲💳 Here’s a look at its transformative journey: 🔹 **Success and Adoption**: It’s everywhere! With over 85% of U.S. retailers onboard and 55.8 million Americans using it for in-store transactions, Apple Pay has made waves in the payment ecosystem. 🛒🇺🇸 🔹 **Expansion and Diversification**: From Apple Cash and Apple Card to Apple Pay Later and digital IDs, Apple continues to explore new horizons, though not every venture hits the bullseye. 🌐🌟 🔹 **Control and Criticism**: While Apple’s rigid control has drawn antitrust complaints, it’s clear their aim is to create a seamless, secure user experience. However, change is on the horizon… ⚖️🔒 🔹 **Future Changes**: Responding to regulatory pressures, Apple’s decision to open its NFC chip to third-party developers could be a game-changer! Imagine using your iPhone for everything from entering a bar 🍻 to boarding a flight ✈️ and beyond! 🔹 **Potential Impact**: This move could revolutionize how we interact with everyday objects, driving innovation that simplifies our lives and enhances convenience. 🚀💡 As we celebrate a decade of Apple Pay, let’s embrace the vision of a future where technology seamlessly integrates into every facet of our daily lives. 🌟✨ 💬 What are your thoughts on the future of Apple Pay? Share below! 👇 Let's spark a conversation and #InnovateTogether 🚀 #ApplePayAnniversary #FutureOfPayments #TechRevolution #InnovationNation #DigitalTransformation
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🦾 Big Tech - Apple Fined $2B On March 4th, the European Commission handed Apple a 1.8 billion euro ($2 billion usd) fine. This antitrust fine is on the grounds that Apple used its market power to ban developers of music streaming apps telling consumers about cheaper subscription options. Apple has long adopted a closed-loop approach to its products and services, to maximize revenue opportunities within its ecosystem. It becomes a natural target when global regulators begin to take actions on the Big Tech’s dominant positions. 🍏 Apple Opens Tap-to-pay To mitigate potential hefty fines, Apple promised to allow others to use the tap-to-pay function on its devices in January. 📍 Developers and banks can build their own apps and enable the tap-to-pay function on Apple devices, separate from Apple Pay and Apple Wallet. 📍 The change will start with EU and eventually will spread to other markets worldwide. 📍 Apple will try to find new revenue sources for reduced service revenue - currently it is charging banks for a percentage of the card transactions via Apple Pay. Sources: CNBC, The Verge #consumerfinance #consumercredit #bigtech #payment #creditcard 🔹 If you are interested to receive my regular updates/comments re. consumer credit, and a collection of my 2023 posts, check here >> https://lnkd.in/grHzN-Da
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𝐂𝐚𝐧 𝐲𝐨𝐮 𝐢𝐦𝐚𝐠𝐢𝐧𝐞 𝐩𝐚𝐲𝐢𝐧𝐠 𝐬𝐨𝐦𝐞𝐨𝐧𝐞 𝐛𝐚𝐜𝐤 𝐣𝐮𝐬𝐭 𝐛𝐲 𝐭𝐚𝐩𝐩𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐩𝐡𝐨𝐧𝐞𝐬 𝐭𝐨𝐠𝐞𝐭𝐡𝐞𝐫? 👀📱 This week at WWDC24, Apple announced a new feature: Apple Tap to Cash. This NFC-based P2P payment system lets users transfer money quickly and privately, without sharing personal details. Currently, it’s available only in the US for Apple Cash users. While similar services exist, Apple’s approach could set a new standard for ease and security in digital payments. 𝑾𝒊𝒍𝒍 𝑨𝒑𝒑𝒍𝒆 𝑻𝒂𝒑 𝒕𝒐 𝑪𝒂𝒔𝒉 𝒎𝒂𝒌𝒆 𝑵𝑭𝑪 𝒕𝒉𝒆 𝒇𝒖𝒕𝒖𝒓𝒆 𝒐𝒇 𝑷2𝑷 𝒑𝒂𝒚𝒎𝒆𝒏𝒕𝒔? Share your thoughts on this innovation! #Apple #NFC #P2PPayments #Innovation
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🚀 Exciting developments from #WWDC24! Here are three key takeaways on Apple's latest innovation in the P2P payments space, Apple Tap to Cash: 1. Innovative NFC-Based P2P Payments: Apple introduces Tap to Cash, allowing users to make P2P payments by simply bringing their phones together. This new feature ensures quick, private transactions without needing to share phone numbers or email addresses. 💳📱 2. US-Exclusive Launch: Currently, Apple Tap to Cash is available only in the US for users with Apple Cash, adding a new layer of convenience within the Apple Pay wallet ecosystem. 🇺🇸 3. Potential Market Impact: While similar products exist, Apple’s high-profile adoption of NFC for P2P payments might drive wider industry adoption. However, its physical interaction requirement and limited geographic availability could pose challenges to user adoption and market expansion. 🌍🔄 #Apple #WWDC24 #TapToCash #FinTech #P2Ppayments #NFC #AppleCash #Innovation To know more about the competitive landscape, visit: https://lnkd.in/euJ4Tcss
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A Decade of Apple Pay: How Far We’ve Come! 💳📱 Earlier this week marked 10 years since Apple Pay launched, revolutionizing how we think about payments. It’s wild to look back at October 20, 2014, when Apple first introduced this feature—before I even had my own credit card. I remember how exciting it was to see a tech company bridge the gap between physical payments and the digital world. At the time, it felt futuristic to add a credit card to my phone and simply tap to pay. It showed a glimpse of where technology could take us, and little did I know that a decade later, I’d not only be a credit card user but an Apple Card super-user. Apple Pay paved the way for a seamless, secure, and fast way to make everyday transactions, and it’s incredible to see how much it has grown. Reflecting on how far Apple has come, from launching a new payment system to becoming a core part of my financial routine, is a reminder of how fast technology evolves and impacts our daily lives. Did you use Apple Pay when it first launched? Share your thoughts or stories about using it over the years in the comments—I’d love to hear how it’s impacted you too! #ApplePay #10Years #TechAnniversary #DigitalPayments #Innovation #AppleCard #TapToPay
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Since Tim Cook unveiled the Apple card in 2019, critical comments and doubts about Apple's payments business have not stopped. Large banks in different countries do not stop looking at the Apple Card model, and several fintech companies are trying to replicate this model, which is increasingly becoming more widely accepted by American customers. 🔘No Fees 🔘Simplicity throughout the design 🔘Focus on customer experience 🔘Daily cash back that rewards Apple and merchants 🔘Advanced security and privacy features 🔘Apple family features for extended family 🔘A move away from minimun payments 🔘Security transfers with any bank For Apple and Goldman Sachs, although the use of the card could entail great losses, we should not focus only on it since if we look at the rest of the ecosystems and elements, they bring many benefits, for example, the use of Apple Pay increases, Purchases of Apple devices increase, etc., and all this causes greater profits for Apple. #payments #cards #apple
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Apple Inc.'s decision to allow third parties to use the #iPhone's #NFCpayment chip marks a significant shift in its approach to the mobile payments ecosystem. This move, which comes in response to ongoing regulatory pressure, particularly from the #EuropeanUnion, will enable banks, transit systems, and other service providers to directly compete with Apple Pay by using the same underlying technology. Starting with iOS 18.1, developers will have the capability to integrate NFC functionality for various use cases, including in-store payments, transit fares, work badges, and more. They will also need to adhere to certain security and privacy standards and enter into commercial agreements, which will likely involve fees for access to the NFC chip. Thus Apple will maintain some control over the technology and will potentially limit the revenue loss from Apple Pay transactions. Despite the broader access, Apple has not yet extended this change to the European Union, which has been a significant advocate for such openness. Instead, the rollout will initially focus on markets like the US, UK, Canada, Japan, Australia, Brazil, and New Zealand. This may be a way of balancing regulatory compliance with the company’s business interests, particularly in regions where regulatory scrutiny is most intense.
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