cessnapaul

EU Apple Pay antitrust action is complete, after NFC opened to competitors

cessnapaul

July 2024

The majority of credit/debit card purchases are now Card Not Present (CNP) transactions and growing, it was 32% of all transactions in 2020 according to the Fed. Card present actually declined by 7%. ApplePay is considered card present by the issuers btw.
The banks have massive fraud detection programs and algorithms to protect consumers and themselves from fraudsters. And as pointed out above, Apple pay operates with the EMV standard.
While ApplePay does have have security embedded within it, Apple does not hold some kind of monopoly of credit card security.

EU Apple Pay antitrust action is complete, after NFC opened to competitors

cessnapaul

July 2024

mizhou said:

“In short, iPhone users in the EU will be able to replace Apple Pay and Apple's Wallet with offerings from other firms.”

I don’t think so. What EU has done is open up the possibility for other companies to create their own wallets. Pretend that this was in the USA, and Walmart created their own wallet, and MacDonalds their own etc.

That hasn’t created a freedom for me as a customer to choose a wallet. Instead they will have to have a Walmart wallet, a MacDonalds wallet etc in addition to Apple Wallet. I’m enforced to use several different wallets. In theory I will have to have a wallet app for wvery store I shop in. This is a freedom for the companies to create their own wallets, and I will have to use multiple wallets, NOT a freedom for me to choose one wallet that I can use everywhere.

The EU politicians have absolutely no clue what they’ve done. They’ve created a mess, not freedom for consumers.

This is more about removing Apples swipe fees from the merchants. Apple gets a small fee each time their wallet is selected, and banks hate this fee, and therefore want to create their own loop excluding Apple wallet.
And to be clear, Apple didn't invent NFC, nor were they the first company to put it in a phone, so for them to use their power to 'gatekeep' this from business' and iPhone users should be removed I think.

Apple Card had the 'most successful credit card launch ever' says Goldman Sachs

cessnapaul

October 2019

BtheB said:

I've had the Apple Card since it's first week... Wonderfully useful if you also have an Apple Watch. I recently completed a three week trip to Spain, and used my wrist to purchase 95% of my expenses. The 'instant' feedback on my iPhone (and wrist) regarding payments was very assuring. The 2% back on all those purchases is a nice, immediate bonus. And, of course, it's accepted EVERYWHERE, unlike my much more expensive AmEx platinum card.. Apple Card deserves to be a great success.

The "instant feedback" feature has been available on Amex Cards used within Apple Pay for years.

I do get the acceptance piece in the EU tho.

After a lengthy legal battle and billion-dollar loss, 'Fortnite' is back on iOS

cessnapaul

May 21

CheeseFreeze said:

cessnapaul said:

"we love developers" as long as we get a 30% cut.

Just because Karl Benz invented the automobile doesn't mean he gets a cut of every toll road.

Saying Apple deserves a 30% cut of all digital goods because they built the platform is like saying a mall owner deserves a percentage of everything sold in every store, forever, even after the store builds its own loyal customer base and no longer relies on foot traffic.

Sure, Apple built the “mall” - the App Store - and they deserve fair rent for access and discovery. But when Apple blocks tenants from even telling customers that cheaper options exist outside the mall, or forces them to use Apple’s own checkout system, it stops being about fair business and becomes about control.

The real issue isn’t whether Apple should earn money - they already do, handsomely. It’s that they’ve positioned themselves as landlord, tax authority, and competitor all at once. Epic’s win doesn’t mean developers escape costs - it just means they can finally choose how to run their businesses. That’s not freeloading. That’s competition.

And let’s be honest: a free economy isn’t absolute. It needs guardrails. When two companies are the app economy, protecting free markets requires regulation - not just to stop abuse, but to keep the system open for the next generation of creators.