Evans: Apple's 40% US market share forces bank and merchant alignment
Benedict Evans · a16z Podcast | Apple Takes on Payments and Your Wrist · Jan 2, 2019 · at 9:03
Benedict Evans, tech analyst at Andreessen Horowitz, discusses how Apple's market power in the US enables it to persuade financial institutions and retailers to adopt Apple Pay.
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“And because of the market scale that Apple has uniquely kind of in the USA with 40% of smartphones, They could then go to all the banks and all the retailers and say, this is all going to work, and let's all just, you know, get behind and push, which is kind of what, for example, the Japanese operators were doing in Japan, 1015 years ago, that they would say, every phone, every retailer, every card, it all just works, and then we can try and get the flywheel going with consumers.”
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