From a report by Matt Krantz for USA Today in October 2014:
Apple Pay contains a variety of major shortcomings that will
likely limit its ability to be the dominant form of payment in the
future, according to a UBS note released to clients this week by
analyst Steven Milunovich, quoting payments expert Richard Crone
at Crone Consulting. The problems with Apple Pay stem from
technical shortcomings of the system relative to other
alternatives and the large fees Apple plans to charge, which banks
will be eager to escape, the report says.
Seven years later and the EC is objecting to Apple Pay’s dominance, so I think it’s time to cash this claim chowder in.
Here’s another one of excellent vintage — Matthew Mombrea, writing for IT World, “Why CurrentC Will Beat Out Apple Pay in the End”:
What it boils down to is the fact that one technology is designed
for the users (Apple) and the other is designed for the merchants
(CurrentC). Normally I’d say that the product with the most user
appeal will win but the power and size behind the CurrentC group
is too big to ignore.
★ Tuesday, 3 May 2022