Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
People trust and love Apple. They slip-up now and than, but manage not to muck anything up too seriously and are quick to correct errors.
They have my entire life in their cloud along with the thousands of music tracks I own (via ITunes Match). Can only hope a huge solar storm doesn't come along and wipe everything out.
They've recently introduced the new I-Touch technology (necessary for finger prints) to the IPad Mini Retina and have renamed the device IPad Mini 3. This newer version of the Mini is now able to use Apple Pay. Unfortunaly, I bought a new Mini Retina (now the Mini 2) only weeks earlier and won't be able to use Apple Pay.
Seeing more and more grocery stores locally buying new POS terminals after Whole Foods did. Talked to local Walgreens yesterday and they are finally seeing more NFC use from Apple Pay, whereas several months ago, when I used Google Wallet, people there went, "Wow, that's really cool." I then asked if they'd seeing anyone else do it. "No."
I think the real boost for Apple Pay will come early next year when MCX either rolls out its mobile wallet (and I just can't see anyone signing up for it) or they just don't. Either way, I think MCX's eventual failure will likely be positive press for Apple Pay. The Union Pay tie-up in China is also a plus, as would be anything with Alibaba. You're seeing Whole Foods be quite positive about Apple Pay use.
As I've always said about mobile payments, the next level is really when you get to that point where you can take all your coupons, your rewards card and payment and all that gets transferred in one swipe. It's probably not long until the coupon flyers in Sunday papers are over. I do think outdoor advertising (bus stops, airport, etc) will see some popularity from increasing ad + QR code wallet coupon, but unfortunately, the main company in question that would benefit if that happens, JC Decaux, no longer seems to be trading in the US.
I do think the physical wallet will still be around from the standpoint of those moments where you run out of battery or don't have signal. It's really unfortunate that retailers haven't embraced the mobile wallet from the standpoint of, at the very least, the cool factor will - at least at first - result in people probably making at least a few more transactions than they'd planned on.
Additionally, anything that can speed checkout should be welcomed. It's the music industry all over again and that's unfortunate, because retail really does need all the help it can get to revitalize the experience in any way.
Apple pre-installs their app Passbook on their devices that is supposed to be the place where loyalty cards, coupons, frequent flyer miles etc are stored. It seems to have a slow start. The idea is great. I think Apple Pay will be the system that gets Passbook really going.
@JohnChisum: I know you own and love Apple and it's app, but most of us will never use a smart phone to pay bills. You seem obsessed with Apple over and over again. Regards, Ted
As of 2012, 1.7 Billion people had a phone but no bank account. This is particularly true in EM, where more and more people are making bill payments via mobile. The card companies are pressing the idea of basic banking in this country and elsewhere, via their "financial inclusion" programs.
I would be surprised if Apple doesn't create some sort of function of Apple Pay where you can link to your usual bills (cable, phone, power, whatever) and pay them in one place via click and touch ID verification. Apple would be thrilled because more money is now going through Apple Pay and they get their little %, the card companies would be happy and consumers would probably (well, at least some of them) find it useful/convenient.
@scott, I see that as well. I'm sure they are working on it or the app is already out but I'm not aware.
Another great benefit would be an app that takes your Apple Pay transactions and creates a spending budget complete with categories. It would be behind the scenes. For many consumers this would show them where they are spending their money. Many people do not know where all their money goes each month. Tie that in with your suggestion and you would have a winner. I'm guessing it's already available.
@JohnChisum I'm afraid your just jealous of the millions of mutual fund fans who look foward to me keeping them informed with fund information. It's a tough job but someone haso do it. Regards, Ted
The only reason I've owned a phone the last few years is because my wife insists on it. She wants to be able to get ahold of me when she wants (she's a wonderful woman, who looks out for me). But even though I rarely use a phone, I threw away a cheap phone and got the new Apple 6 so I could use Apple Pay. I think its a great idea.
Now I'll have to try out its camera, but I'm not likely to toss my Nicon.
@Lawlar, yep I think the Nikon is a winner there. The iPhone camera is more for convenience though they are getting better all the time and the photo editing is handy.
Sometime convenience of camera cell phones has it's price. Take a good look at Jennifer Lawrence's (and others) case and the consequence of poor judgement. I love my digital SLRs and am very careful with cloud storage.
Certainly, a camera phone is not going to come close to an SLR. That said, when you are looking at more basic point-and-shoot digital cams, what I like about the camera phone is the idea that there are so many apps, filters and other tools (Google Camera's terrific photo sphere and panorama tools.) Whereas when you get a P & S digital camera it is what it is, you have so many options to choose from for phone camera tools. I love my SLR, but have done some good work with my Nexus 5.
Celebrities are always targets in one way or another. In most of the cases involving iCloud, it was the use of weak passwords that helped the perps to gain access. Apple since then has started to promote a two step access procedure.
If one is not sure what password to use, Apple and I will guess Android have password programs where they will build the password. These are very good. It also does away with the "one password for everything" issue a lot of people have.
Comments
They have my entire life in their cloud along with the thousands of music tracks I own (via ITunes Match). Can only hope a huge solar storm doesn't come along and wipe everything out.
They've recently introduced the new I-Touch technology (necessary for finger prints) to the IPad Mini Retina and have renamed the device IPad Mini 3. This newer version of the Mini is now able to use Apple Pay. Unfortunaly, I bought a new Mini Retina (now the Mini 2) only weeks earlier and won't be able to use Apple Pay.
I think the real boost for Apple Pay will come early next year when MCX either rolls out its mobile wallet (and I just can't see anyone signing up for it) or they just don't. Either way, I think MCX's eventual failure will likely be positive press for Apple Pay. The Union Pay tie-up in China is also a plus, as would be anything with Alibaba. You're seeing Whole Foods be quite positive about Apple Pay use.
As I've always said about mobile payments, the next level is really when you get to that point where you can take all your coupons, your rewards card and payment and all that gets transferred in one swipe. It's probably not long until the coupon flyers in Sunday papers are over. I do think outdoor advertising (bus stops, airport, etc) will see some popularity from increasing ad + QR code wallet coupon, but unfortunately, the main company in question that would benefit if that happens, JC Decaux, no longer seems to be trading in the US.
I do think the physical wallet will still be around from the standpoint of those moments where you run out of battery or don't have signal. It's really unfortunate that retailers haven't embraced the mobile wallet from the standpoint of, at the very least, the cool factor will - at least at first - result in people probably making at least a few more transactions than they'd planned on.
Additionally, anything that can speed checkout should be welcomed. It's the music industry all over again and that's unfortunate, because retail really does need all the help it can get to revitalize the experience in any way.
Regards,
Ted
Ted is simply insisting on fair play: Half the board for whatever he thinks important and half for the rest of us.
Indeed, his carpet-bombing with links this morning may be seen as a manafestation of the respect he feels for everyone else's viewpoints.
I would be surprised if Apple doesn't create some sort of function of Apple Pay where you can link to your usual bills (cable, phone, power, whatever) and pay them in one place via click and touch ID verification. Apple would be thrilled because more money is now going through Apple Pay and they get their little %, the card companies would be happy and consumers would probably (well, at least some of them) find it useful/convenient.
V, AAPL at new highs again pre-mkt and MA close.
Regards,
Ted
@Ted. Number for you is 0.6
Another great benefit would be an app that takes your Apple Pay transactions and creates a spending budget complete with categories. It would be behind the scenes. For many consumers this would show them where they are spending their money. Many people do not know where all their money goes each month. Tie that in with your suggestion and you would have a winner. I'm guessing it's already available.
Regards,
Ted
Now I'll have to try out its camera, but I'm not likely to toss my Nicon.
Regards,
Ted
If one is not sure what password to use, Apple and I will guess Android have password programs where they will build the password. These are very good. It also does away with the "one password for everything" issue a lot of people have.