Bitcoin Community Reacts to Apple's Mobile Payments Play
Updated with additional comment from bitcoin community. Apple has unveiled Apple Pay, a new mobile payments tool that could significantly impact the way consumers transact both in-person and digitally. The new service was outlined as part of a broader demonstration of the iPhone 6 and iPhone 6 Plus, both of which were introduced at Apple's event in Cupertino, California, on 9th September. Apple Pay is integrated with existing infrastructure, including Secure Element and Touch ID, while the iPhone 6 introduces near-field communication (NFC) functionality, enabling tap-and-go payments for....
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Apple Pay has been touted as one of the most revolutionary mobile payment forms of the past 12 months. Despite a ton of marketing efforts, hype, and integration by thousands of merchants around the world, the platform has not been without flaws. In fact, most users are still not sure whether or not Apple Pay is a favorable option. Running out of phone battery makes the entire payment utterly useless. Apple Pay is proving to be quite an interest spin on mobile payments, as the service has many things going for it. There is a dire need for more competition in the mobile payments ecosystem,....
Happy Sunday, and welcome back to another Bitcoin News in Review, where we feature some of the top stories of the week here on CryptoCoins News. This week, Apple launched its own mobile payments system, 5 million Gmail login credentials were leaked, PayPal announced Bitcoin integration through Braintree, and more. Check out our video and keep scrolling for this week's Bitcoin News in Review. Apple Pay. Along with the iPhone 6 and Apple Watch, Apple launched its own mobile payments solution called Apple Pay last Tuesday. Apple Pay relies on NFC, Touch ID, and other technologies to enable....
Apple Pay has been touted as one of the most innovative ways to pay with a mobile device. Whether or not that will be the case, remains to be seen. But ever since Apple Pay launched in the United Kingdom, it is causing issues with the London Underground. Using Apple Pay will put the user at risk of being overcharged for their journey, which not exactly how this system is supposed to work. Mobile payments are on the rise, and manufacturers and payment processors are scrambling to cobble together a mobile payment solution for the entire world to use. But even tech giants such as Apple, who....
When Apple Pay was introduced to the world, there was a general buzz of excitement. Mobile payments have become somewhat of a trend lately, and Apple was one of the first electronics giants to make mobile solution available to its users, albeit in a limited fashion. That being said, various recent reports are indicating consumers are far less excited about Apple Pay compared to a few months ago. According to a recent report by InfoScout, Apple Pay usage is on the brink of declining. Some industry experts are going as far as calling the mobile payment solution a “flop”, but it might be a....
Mobile payments are only as secure as the wallet service is, and Apple Pay is not doing the best of jobs to protect consumer data. While many people see Apple Pay as a form of Fintech innovation, making mobile payments through Apple’s financial solution with stolen credit card information appears to be much easier than originally anticipated. Some people would go as far as saying how this mobile wallet is quite inferior to other financial technologies, including Bitcoin. Apple Pay Fraud Rates. Assailants have not managed to break the Apple Pay wireless payment mechanism security, yet the....