Apple introduces new mobile payment service "Apple Pay"

[e1ghtSpace]

http://www.idownloadblog.com/2014/09/09/apple-mobile-payments-2/

It turns out the rumors were true, Apple has been putting together a new mobile payment service, and it introduced it on stage today as “Apple Pay.” The service involves adding your credit cards to Passbook, and waiving your iPhone in front of what looks like an NFC reader to pay for goods and services in-store.

Do you guys think this might destroy bitcoin?

[iluvpie60]

http://www.idownloadblog.com/2014/09/09/apple-mobile-payments-2/

It turns out the rumors were true, Apple has been putting together a new mobile payment service, and it introduced it on stage today as “Apple Pay.” The service involves adding your credit cards to Passbook, and waiving your iPhone in front of what looks like an NFC reader to pay for goods and services in-store.

Do you guys think this might destroy bitcoin?

it pretty much is a competitor with paypal when you think about it though. but look, my bank and most other banks have already offered this for years. some banks even offered this for years before bitcoin just didn't really work on a smart phone it worked on a PDA, which aren't really made at all anymore. People forget the smart phone is just a PDA with the ability to take a phone call really. PDAs did a lot and I had one, was fun.

no its not going to destroy bitcoin, but it is going to convert a ton of normal people to use apple for these things, which makes bitcoin less relevant. the more normal people who find other services the less bitcoienrs there will be. bitcoiners are really just people who don't like the government or think the ability to transfer things for free or cheap is new. it isn't a new concept and has been around, the main thing driving bitcoin is the protocol itself and the security features and all that. sending money somewhere isn't new and bitcoin obviously lost out to paypal in terms of that time wise, but now paypal accepts bitcoin so you get that going at least, maybe now more ppl will use it, but likely not many.

[Bitcoinpro]

Is it comedy day down at Apple, Sumsung must be rolling over at this one.

[yodark]

The very interesting fact here is how apple tackle payement user experience.
I think it will be a source of inspiration for people implementing bitcoin payment solutions

[oceans]

Not too sure about it destroying bitcoin as they are two completely different things however I do believe that they could be strong competition for PayPal. Not too sure I would be ready to use Apple Pay though yet until I knew it was truly safe.

[camem]

Do you guys think this might destroy bitcoin?

NFC and Bitcoin is a great combo and apple's adoption will finally drive NFC mainstream (also get people used to paying with their smartphones), so no, not at all

[caribbeanbitcoiner]

http://www.idownloadblog.com/2014/09/09/apple-mobile-payments-2/

It turns out the rumors were true, Apple has been putting together a new mobile payment service, and it introduced it on stage today as “Apple Pay.” The service involves adding your credit cards to Passbook, and waiving your iPhone in front of what looks like an NFC reader to pay for goods and services in-store.

Do you guys think this might destroy bitcoin?

Not even close to effecting Bitcoin. It's not like this service can be used online as seamless as Bitcoin.

[galbros]

Not destroy help.  It will get people accustomed to paying with their phone which helps bitcoin.  It gets them thinking about alternate payment methods which helps bitcoin.  I'm happy!

[runam0k]

I thought this would finally be the year I buy Apple, but no.  Uninspiring designs and why is the 6 Plus - my preferred screen size - so freaking huge for a phone with a 5.5" screen?

On topic, no.

[seriouscoin]

Great, so with iCloud we get celebrities nude pics...

With this Apple pay, ppl can just lose their CC info.

When will they notice all on these still built on an old age credit card network?


Woohoo, i now can put my CC on my phone and spend! So great!

[cambda]

I think Apple just come with something not much usefull just to sell more overpriced phones. Oh well.

And no competetion with Bitcoin, it is just less secure credit card

[leannemckim46]

http://www.idownloadblog.com/2014/09/09/apple-mobile-payments-2/

It turns out the rumors were true, Apple has been putting together a new mobile payment service, and it introduced it on stage today as “Apple Pay.” The service involves adding your credit cards to Passbook, and waiving your iPhone in front of what looks like an NFC reader to pay for goods and services in-store.

Do you guys think this might destroy bitcoin?

No, it certainly will not. Credit cards are already very popular throughout the world, likely more popular then cell phones (let alone iPhones). Apples NFC service/reader will likely be more costly for merchants to use then "traditional" credit cards because apple will be one more "person" involved in the processing of payments.

[BittBurger]

Apple Pay is just another way to use your 50 year old Visa and Mastercard credit cards.

It has no relevance to Bitcoin, aside from possibly transitioning the public mentality towards more willingness to go completely "digital", which is only a good thing for Bitcoin.

The less people need to hold their funds in their hands, the better, for Bitcoin.

-B-

[TopherB]

Do you guys think this might destroy bitcoin?

NFC and Bitcoin is a great combo and apple's adoption will finally drive NFC mainstream (also get people used to paying with their smartphones), so no, not at all

Apple's overwhelming need to proprietize everything it touches might undercut the mainstreaming effect. 

[hikedoon]

  What's the big deal?
My Debit card can do that already. It's called "contactless payments" or something like that.
 

[ArticMine]

PayPal is not going to take this sitting down. They will offer a superior product that is also cross platform. If Apple decides to censor them, then off to court we go. They may even offer Bitcoin as part of their solution. The markets were not that impressed. http://finance.yahoo.com/q?s=AAPL.

Now can someone please explain: Why is Apple's credit card security better than Apple's nude selfie security?

[gog1]

Maybe that's why Paypal is going to accept BTC.

[codingo]

Not too sure about it destroying bitcoin as they are two completely different things however I do believe that they could be strong competition for PayPal. Not too sure I would be ready to use Apple Pay though yet until I knew it was truly safe.

To somebody who's familiar with Bitcoin, yes. Unfortunately to the greater population it will look like Apple improved upon the concept and delivered something better - and unfortunately for the end user in most use case scenarios they would be right. Sure, Apple isn't providing a decentralized product but the average person doesn't give a damn about that - they just want a convenient way to spend their money and today Apple delivered that in spades.

[sublime5447]

I am pretty much ignorant about it. I have not looked into the details, but what I am wondering is if apple is using the blockchain tech to secure a private network. It sounded like the basics are that apple is setting up a public/private key system to enable its customers to make purchases and verify without divulging any personal information (information tied to the traditional banking system) .

Does anyone know if that is the case?   

[codingo]

I am pretty much ignorant about it. I have not looked into the details, but what I am wondering is if apple is using the blockchain tech to secure a private network. It sounded like the basics are that apple is setting up a public/private key system to enable its customers to make purchases and verify without divulging any personal information (information tied to the traditional banking system) .

Does anyone know if that is the case?   

From what I've seen it just looks like it's using NFC and storing the required payment credentials on your phone. I definitely haven't even seen a hint of any blockchain technology being used.