“Apple and represent strong brands and many merchants can now accept Apple Pay due to EMV point of sale terminal upgrades,” Wells Fargo Securities analysts wrote in a note. In the nearly five years since, only a small proportion of people have used the service at the cash register, despite the advantages of the system and ubiquity of contactless NFC terminals.īut Apple’s new venture into the world of credit cards has the potential to change the American payment landscape significantly and give a long awaited boost to tap-your-phone to pay payments, or “proximity mobile-based payments.” ![]() At the time, Cook bashed the lax security of the plastic credit card and unveiled the phone-based tap-to-pay payment service. ![]() Apple ( AAPL) CEO Tim Cook revealed on Tuesday that it’s rolling out the Apple Card in August, and it might finally get more people to use Apple Pay.Īpple Pay was announced all the way back at the iPhone 6 event in September 2014.
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