Apple Pay

“And if you contrast what's happening in Apple land with what's happening in Android land, if you've tried NFC payments in Android land, you have lots of stakeholders with their own applications clamoring to be your wallet. So you have ISIS now known as soft ca…”

“So, one can kind of think about Apple Pay, NFC, you know, this idea of facilitating offline commerce, you know, brick and mortar commerce, as a bridging solution until kind of, you know, maybe 10, 20, 30 years from now, when, like, everyone's got mobile apps a…”

“But I don't see it as a huge payment innovation. It's a new form factor on top of credit cards.”

“I think it's much more of a physical retail innovation than an online Innovation.”

“One of the key reasons to buy something on Amazon particularly on mobile as it's already set up with your account, so you don't need to enter a credit card in. Well, if you've got Apple Pay, then you don't need that, that, all of that aggregation goes away.”

“To me, I've always thought Apple Pay was more interesting in apps than at point of sale, because you go into a store, you pull something out of your pocket, you put it on a thing, and you do a thing, and whether it's a phone or a card, I mean, this is what peo…”

“When you look at things like Touch ID, when you look at Apple Pay, when you look at the things that they do with that integration you know, it's very hard for a commodity OEM using somebody else's operating system and somebody else's components to compete with…”

“Apple's very deliberately crafted Apple Pay so that they're not holding the bag. Just to be clear. There's actually a very clever technique with tokenization where it's definitely all somebody else's fault.”

“The way that I think about Apple Pay is it's not very interesting at point of sale. It's very interesting inside apps, because suddenly you don't have to enter your credit card and your billing address and your shipping address.”

“And they beat Apple pay to the web, which I think is, is hugely important for the developing world and for people who live in environments that are not at all like ours.”

“There will be many scenarios, but one of them is that they become more of a back end. If you think about it, now we are connecting more and more services to our bank account, and we are manipulating this money, but without touching the bank account itself. And…”

“So, I mean, I actually think it's funny if you look at Apple pay and how it works right now, when you bring it up, it tries to emulate what your old fashioned wallet looks like. So it is this abstraction layer, but it keeps that form factor. So it is this skew…”

“They probably don't need Apple Pay as much, but they should be internally rooting for it to fail. Because if it fails, it actually helps Amazon sell more things at a higher markup vis-a-vis the competition.”