I know, it's not exactly a set-the-world-on-fire prediction, but it's the best I could come up with.
And I stand by it, because I've been working in the payments industry for a while now, and I've seen how the sausage is made, and yeah, it's crazy to think anything Samsung does could out-Apple Apple. But I'm here to tell you, Apple Pay is going to take it on the chin. All because of stone-simple copper wire technology.
See that photo? See the weird copper-loop gizmo? That's what's inside a Samsung phone. That's the piece that kicks Apple's ass. Starting any minute now, and continuing throughout 2016. And beyond.
If you're not a geek, stay with me, because I'm going to de-geekify all the Apple Pay baloney for you in about two seconds.
The basis of Apple Pay is something called NFC, or near-field technology, which is kind of like walkie-talkie tech for letting your iPhone talk to credit-card machines (without making physical contact), okay, but the catch is, the credit-card machine (in order to participate) has to be one of the newer-fangled, next-generation machines built to do the NFC tango. Which most machines aren't.
Obviously it's awesome (in theory) to be able to walk up to a check-out counter and wave your phone around and have a transaction go through, without your having to fish a plastic card out of your purse. That's an awesome concept. And it works great if you have Apple Pay on an iPhone and the merchant has a newer-fangled NFC machine. But most merchants don't have the NFC-style machinery, and honestly, can you blame them? Credit card gizmos are a hassle to upgrade. Just upgrading from magstripe to chip card capability is a pain, but going the extra mile for NFC? That's yet another level of upgrade hell. Most merchants aren't willing to do it just now.
Samsung saw the Graylin/Wallner technology in action and said "
How's Apple Pay doing, by the way? Um, ah, well, you see, um . . . Read the headlines.
- New Data Shows Apple Pay Still Stuck In The Mud.
- Research Study Shows Apple Pay Adoption is Slowing.
- Apple Pay, One Year Later: Still Waiting to Catch On.
|Just hold your phone near the old-school magstripe swiper. Poof! Done.
Who's going to win this? You decide.
Need I say it? This blog reflects my own opinions, not those of my employer.
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