The Anti-Apple Pay Scheme

Leave it to Apple to stir the pot. Usually it’s because of an outrageously great technology, or for us in the supply chain business about how well they handle their own supply chain. This time it’s about a payment scheme that involves technology in their newest devices. OK, so maybe it really isn’t Apple making waves, but it’s still falling on the company as the trigger to the debacle.
The basis of this story is that Apple’s implementation of NFC (near field communication) in its iPhone6 line is gaining immediate traction where earlier attempts by Google and others have floundered. So the technology isn’t really something new, it’s just that Apple has the clout to get its army of fans enthused about its un-plastic credit card. This at a time when there is significant activity in the payment processing world to buck the established credit card industry. A consortium of retailers are just about to launch a new payment processing scheme that accepts payments from customers via mobile devices but without any ‘fancy’ chips… Oh, and also without any fancy credit card processing fees.

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