The Spend Wallet could be a gamechanger because it could enable real people to buy with cryptocurrency in the real world. Such transactions could be possible because Spend builds an Authorization Engine into its Wallet.Read more
Thus, Apple Pay is more widely accepted in Germany than in the United States. For example, America’s largest retailer Walmart (NYSE: WMT) and largest standalone grocer Kroger (NYSE: KR) refuse to accept Apple Pay.Read more
Apple (NASDAQ: AAPL) is desperate to get people to use Apple Pay. In fact Apple employees were wandering around Chicago begging people to use the mobile wallet.
Apple salespeople were going door to door on October 7 in Chicago’s Lincoln Park in an effort to push the wallet, Bloomberg claims. The “ambassadors” were touting a $1 taco promotion at food trucks in an effort to promote Apple Pay.
Apple claims that 60% of US merchants have the equipment to accept Apple Pay. Unfortunately, most of the big names in American retail including Walmart, Kroger, and Target, refuse to accept Apple Pay.
Notably, Target (NYSE: TGT) even refuses to accept Apple Pay in its wireless Skip the Line system. To explain, Skip-the-Line is a mobile device that lets shoppers pay Target associates with credit cards or the Target app without going to a cash register. However, Apple Pay users can pay at Target through the Target app.
It will leave American skeptics wondering if there are serious security holes or flaws in Apple Pay. The refusal of American regulators to examine the technology, and America’s tech press to report honestly on Apple Pay might put many people at risk.
If you think this sounds paranoid. Ask yourself why are giant American retailers; like Walmart (NYSE: WMT) and Kroger (NYSE: KR), refusing to accept Apple Pay? What do the NPCI, the Reserve Bank of India, America’s largest retailer, and America’s largest standalone grocer know about Apple Pay that makes them scared of it. Perhaps Congress should put that question to Apple CEO Tim Cook.Read more
This is big news because Chase is America’s largest bank and it operates 16,000 ATMs nationwide. Tellingly, Chase’s press release does not mention Apple Pay or Google Pay specifically it simply states “you can you use your phone’s mobile wallet.”
The Chase announcement is big because it would enable customers to get cash without a wallet. That might get more people, particularly older folks who are afraid of being without cash to use mobile wallets.Read more
Mobile payment apps are still a tough sell to America’s consumers and merchants, Kount’s data indicates. The company that can change that paradigm will make a fortune.
That means more two thirds of American retailers or 71% still refuse to accept mobile wallets. Once again it sounds as if Apple (NASDAQ: AAPL) is losing the payment wars, and Alphabet (NASDAQ: GOOG) is not doing very well.Read more
Mobile payment use in the United States is a growing at a rate of 14.5% a year and it should reach 55 million by the end of 2018, eMarketer estimated. Around 25% or in four American smartphone users will make a mobile payment sometime this year.
Those numbers are big but they are nothing compared to China where Ant Financial’s Alipay has 520 million users, and Tencent Holdings’ WeChat has one billion active users, Bloomberg reported. Those people spent $2.9 trillion in the two ecosystems in 2016.Read more
Walmart Pay users will not get cash back by paying with Chase Freedom, but they can get 5% Cashback by using Chase Pay at Walmart. Walmart (NYSE: WMT), America’s retailer accepts Chase Pay because it is a quick-read (QR) code based application like Walmart Pay. Although Chase Pay users can get 10% cash back at Walmart; if they pay with the Chase Sapphire or Freedom Unlimited Cards, before December 24, 2017, Nerdwallet reported.Read more
That, of course, created a risk of theft and some nasty liabilities issues for TenX. Is the company responsible if a crook uses a stolen card number posted on its’ website?
Such shenanigans will definitely not endure TenX to Visa; which has shut off some of its cards, or to MasterCard which is just as hostile to cryptocurrency cards. Despite that the TenX debit cards are a pretty impressive product; they can convert several altcoins including DASH, Ethereum, and Bitcoin into fiat currencies instantly.Read more
Nor are mobile wallets such as PayPal, Apple Pay, Walmart Pay, Android Pay, Samsung Pay, and Alipay, automatically a threat to Visa’s business.
Only 16% of Americans said they had used a mobile wallet in 2015, a JPMorgan Chase survey indicates. The same survey found that only 56% of large businesses and 25% of small businesses were accepting payments from such mobile wallets.Read more