The Apple Card, which pushes payments deeper into the digital sphere, will become banks, issuers, and card networks worst nightmare. When consumers use their smartphones to make a purchase with the new Apple Card, the person will receive a real-time push notification. What’s unique about this card is that the entire transaction occurs in the digital wallet. Also, this type...
An alleged Apple’s facial recognition software failure may cost the tech giant a pretty penny. An 18-year-old New York man is suing Apple for $1 billion, claim its facial recognition software wrongly accused him of stealing $1,200 worth of merchandise from its stores. Ousmane Bah, a student, claims someone used a stolen identification card to pass himself off as him....
The groundwork has been laid for widespread U.S. contactless payments adoption, but what will be the impetus for actually taking shape is a mystery, according to the Federal Reserve Bank of Boston report, “Tap to Pay: Will Contactless Cards Pave the Way for NFC Mobile Payments in the U.S.?” Background on the Contactless Card and Mobile Payments Movement In 2015,...
Apple Pay is nearing another milestone– it is on track to process 10 billion transactions by the end of 2019. Getting a lift from transit systems that are embracing digital wallets and the increase of merchants using contactless payments, Apple Pay saw another quarter of record volume, the company chief executive, Tim Cook, announced recently. Though it is unclear how...
The Apple Card is just another spoke in the wheel toward a full digital payment world. Last week, Apple Inc. announced its Apple Card, which boasts a MasterCard brand and is issued by Goldman Sachs Group Inc., will roll out this summer. The physical card, which is made of titanium and contains a contact chip, is emblazon with a card...
More than 43% of global iPhone users have enabled Apple Pay, according to estimates from the venture capital firm, Loup Ventures LLC. This means that Apple Pay adoption reached 43% of iPhone users. What’s Driving the Boom? Since its launch in 2014, Apple Pay has continued to gain support from retailers and iPhone users. The Minneapolis-based venture firm based its...
Based on the 18th annual POS/Customer Engagement Survey by Boston Retail Partners (BRP), 36% of retailers accept Apple Pay. PayPal held the 1st place in 2016, and this year, took the 2nd place with 34% of retailers accepting the payment method. Apple Pay and Other Payment Options According to Boston Retail Partners, Apple Pay has the largest percentage of supporting...
According to a report from SimilarTech, a Web analytics firm, Apple Pay on the Web has become quite popular. SimilarTech’s platform tracks more than 30 million web pages per month and shows that Apple Pay has turned into the 5th most popular payment platform used by eCommerce websites ranked in the top 10.000. It is the 5th most widely-used payment...
Hackers have found a new target and victim: Apple Pay. The ever-popular new payment app is now the victim of a hacking, but it wasn’t a full-blown hacking as we have seen with various retailers. This hacking was a soft hacking, which some industry experts see as a possible test run for something bigger down the road. Due to this...
Studies have shown that those who pay with Apple Pay are more likely to return to the same store again in the future. Perhaps it is because they genuinely like the store, but it is even more plausible that it is because they are able to use Apply Pay. While it gets a lot of press, like Bitcoin, many merchants...
