Re: Apple Pay

On 09/10/2014 12:03 PM, Melvin Carvalho wrote:
> Apple just introduced Apple Pay in their live event at 
> Coinapult's response :)

Although tongue-in-cheek, I thought that this was one of the most
insightful responses.

Yes, Apple is huge and Apple Pay is going to be big, but remember that
Apple's market is still quite small compared to the size of the Web.
Also note that Apple is a luxury goods maker. The likelihood that
Apple's technology will reach those that need it the most, like the
worlds underbanked and unbanked, is highly unlikely. Also keep in mind
that it's a closed ecosystem by design. It's a great business model for
Apple, it works well for them.

We should learn all we can from Apple Pay, but not lose sight of the
fact that we're not trying to build a closed, siloed ecosystem with the
Web Payments work.

-- manu

Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny)
Founder/CEO - Digital Bazaar, Inc.
blog: The Marathonic Dawn of Web Payments

Received on Thursday, 18 September 2014 01:39:18 UTC