Midsize banks are losing money on Apple Pay transactions, and the marketing value of their “partnership” with Apple is questionable, says Doug Brown, who leads the mobile strategy and product team at FIS. They will still participate, however, because they have to.
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Apple Pay has had a spate of double charges related to Bank of America cardholders, but apparently it’s not really anyone’s fault.
Bank Innovation has learned new details on a forthcoming Apple Pay loyalty program.
Bank Innovation has confirmed that Apple Pay will be attached to iOS 8.1, scheduled for an October 2014 release.
On the surface, Apple Pay should make bankers quake. Apple is not required to be a bank in order to offer banking services — which, let’s be honest, includes payments. So why aren’t bankers panicking? The video below, which features Mark Curran, payment technology services director at Lloyds Banking Group, andRead More
UPDATE (10/1/14, 1:41 PM ET) Earlier this month, before Apple Pay came out, Bank Innovation wrote that Apple and PayPal had been involved in talks for … something. We’ve finally tracked down the full story. Sources close to Apple and PayPal and in the financial services industry have confirmed thatRead More
It is no coincidence that three weeks to the day after Apple Pay‘s introduction eBay Inc “chose” to spin off PayPal. In announcing today that it will IPO PayPal in late 2015, eBay effectively acknowledged that PayPal will find it far more difficult to score the double-digit rate of growth theRead More
Long lines were forming outside AT&T shops long before dawn this morning — and least in Manhattan — in what can only be described as a consumer frenzy. But all the hype surrounding the iPhone 6/6 Plus launch today was leveraged to a whole other level today by MasterCard, anRead More
With iOS 8’s release yesterday, many iOS users have been wondering when the new Apple Pay feature will be available on their devices. The “in the wild” tests indicate that it will be sooner rather than later that Apple Pay will be made available widely.
MasterCard launched a pilot beta program to test out voice and facial biometrics.
Stripe, a payments company for developers, “is widely regarded as a potential initial public offering candidate or acquisition target down the road.”