[Oglon3r]

https://www.wellsfargo.com/about/pre...158538-3408-56

Just got an email from them this morning.
Meanwhile it's been a year and very few banks support NFC payments from BlackBerry...
Wonder of apple pays them to play out this type of bull****...
Or is it a normal respond to simply supply and demand....

Posted via my STA100-5 z30

[pri79269]

Supply and Demand....simple.

[TGR1]

Excellent, I was hoping for this.

It's a little more than supply and demand, although WF putting out a press release certainly means it's important there. If you read more about how Apple Pay likely works, Apple seems to have put considerable effort into building the infrastructure the banks, card issuers, and customers can work with. So they had the will, the resources, and the bait.

[eddy_berry]

So much for "if you build it, they will come" because BlackBerry built it and nobody came. Android built it and nobody came. Apple built it and then went out to everyone they could and convinced them it was good. Now it's a thing. I honestly thought Google could have done it. They missed that opportunity I think. Oh well, as long as the infrastructure comes where we can all benefit that's okay. It just took one player to get it off the ground and make it mainstream in the big US market. If it turns out that only Apple users can pay with their devices than it is kind of dumb. I've been telling my iPhone toting girlfriend and her family for years that NFC payments will be a thing and that iPhone is missing the boat with NFC. They've seen me pay for Tim Hortons coffee with NFC. Turns out I was wrong. It looks like Apple slapped a motor on that little boat we've all been paddling in. I just hope we are all welcome on this ride.

Posted via CB10

[Tre Lawrence]

To be fair though, in the eyes of the financial institutions, "building it" usually entails potentially increasing profits (aka having a large customer base). BB10 didn't/couldn't build that.

But ditto on Android/Google failing too. Google tends to sometimes not put the needed resources into projects IMHO.

[anon(257429)]

It wont turn out that way. I currently have two bank cards and some credit cards connected to Google Wallet. Tap and pay is active in Android. Its super simple

[app_Developer]

https://www.wellsfargo.com/about/pre...158538-3408-56

Just got an email from them this morning.
Meanwhile it's been a year and very few banks support NFC payments from BlackBerry...
Wonder of apple pays them to play out this type of bull****...
Or is it a normal respond to simply supply and demand....

Posted via my STA100-5 z30

BlackBerry wasn't willing to go around the phone carriers the way Apple did. BlackBerry also never provided the APIs and overall robust integration options which Apple Pay provides banks.

This is a significant step beyond even what Google wallet offers. I think Apple Pay transaction volume will dwarf Google Wallet very quickly. I imagine BB NFC transaction volume is itself dwarfed by Google Wallet.

Banks like to focus on the areas with the biggest volume.

Sent from my Nexus 5 using Tapatalk

[tdyhedge]

Read a little more (no pun intended) about it here:

Apple announces Apple Pay in press release | iMore

Some of the blog comments are interesting...

[Khaled Aznawi]

Posted via CB10

[walt63]

I'm on the fence on Apple Pay. Because of the way they set it up, I feel that apple will be passing over more than just money to the banks or merchants. I'm sure it won't be simply inserting your card information. It's going to be connected to a profile. In that profile, there's attributes about you. It's a little more than just your simple NFC technology that just transfers what you allow it to transmit at a specific time.

The key message from Apple is, "We want to get more personal with our products." I mean, that says it all. Apple is turning into a huge data mine. We must remember that this is the age of big data. The more accessible information on you, the better a company can market to you.

Posted via CB10

[app_Developer]

I'm on the fence on Apple Pay. Because of the way they set it up, I feel that apple will be passing over more than just money to the banks or merchants. I'm sure it won't be simply inserting your card information. It's going to be connected to a profile. In that profile, there's attributes about you. It's a little more than just your simple NFC technology that just transfers what you allow it to transmit at a specific time.

The key message from Apple is, "We want to get more personal with our products." I mean, that says it all. Apple is turning into a huge data mine. We must remember that this is the age of big data. The more accessible information on you, the better a company can market to you.

Posted via CB10

That's really not true. What you are describing is Google Wallet. This is a key difference between the two systems.

What makes Apple Pay so much more attractive to banks is that the security is such that Apple won't have the information that Google gets from their wallet. The economic is totally different. Google gets paid in information, Apple instead gets paid with a percentage of each transaction.

Banks like it because banks want to be the only ones who know what you spent and where. Whether you use Apple Pay or not, if you use a debit or credit card they already know that.

Sent from my Nexus 5 using Tapatalk

[sentimentGX4]

https://www.wellsfargo.com/about/pre...158538-3408-56

Just got an email from them this morning.
Meanwhile it's been a year and very few banks support NFC payments from BlackBerry...
Wonder of apple pays them to play out this type of bull****...
Or is it a normal respond to simply supply and demand....

Posted via my STA100-5 z30

Mobile payment deals are legally complicated and require a lot of administrative work as well as infrastructure. There would be no way Wells Fargo would do this deal with Blackberry, which has <1% marketshare, even if Blackberry paid the bank millions and millions of dollars.

[pittster]

Awhile back if I'm correct Apple would pay the banks the amount of the transaction instantly for a percentage of the transaction fee. Therefore Apple takes all the risk and responsibility from the banks.

[raino]

Apple to charge fees from banks for new payment system: Bloomberg - The Times of India

Yep, sounds like an Apple "invention", alright.