Apple Pay

“And then for Stripe, the other thing that we cut it was business model. So are you a B to B? Are you B to C? Are you B to B to B e.g. A platform or B to B to C e.g. A marketplace? And why is that relevant? Well, if you're B to B, you were going to need busines…”

“I think one of the other reasons why the consumer apps are having such a boom is because of the double tap to pay. Like, I think that Apple pay that simple, like UX change has changed people's perception of iOS subscriptions.”

“So on a Apple Pay transaction, I'm pretty sure Apple makes about as much as Visa does, because they stack an extra 15 basis points on top of the other three fees that we talked about.”

“Part of Apple's roadmap is they create these building blocks, and they ship them as features year over the years, and then they combine them into something new. The obvious example is they added the fingerprint scanner the year before they did Apple Pay.”

“Well, I think it's pretty likely that Apple will have to open up NFC access, for example. Because that's a payment monopoly thing.”

“What we do is we provide technology that allows any merchant to be able to offer that type of service to their shoppers. So it's as simple as checking out with Apple Pay or wallets or topping off cards. It looks just like Amazon prime. That's what our technolo…”

“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.”

“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…”

“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.”

“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.”

“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.”

“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…”

“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…”

“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.”

“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.”

“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…”

“Credit cards and Apple Pay and Android Pay are designed to get us to spend more and think less.”

“And a couple years ago, they actually, if you may recall, they launched a service with Apple around Apple Pay, and so they actually were using us for business insights to look at activations per second, per minute, per hour, per day, that's generating revenue,…”