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Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 08 May, 2015, 11:19Be the first to give this comment the thumbs up 0 likes

I've long argued that instore mobile payments are solving a non-existent problem. But, in my blog post on Apple Pay (http://gtm360.com/blog/2014/09/12/apple-pay-puts-banks-squarely-at-the-center-of-mobile-payments/), I'd assumed that its emphasis on security will help Apple Pay succeed where other mobile wallets have failed. I guess that accounted for the first time use of Apple Pay reported in your article. Beyond that, I'm afraid what I predicted in my post has come true: "However, people have short memories and I wonder if better security alone will be enough to convert even the most zealous FanBoy or FanGal from plastic to mobile payment."

Use of fingerprint on iPhone6 to authenticate an Apple Pay transaction is one of the drivers for its adoption in a market that places a premium on a frictionless experience. From what I know, Apple Watch lacks a fingerprint reader. So, I don't see it increasing Apple Pay adoption. PIN may have happened in Europe 10 years ago, India 1 year ago but I don't see it happening in USA for at least another 10 years: According to recent reports, even the first phase of Chip+Signature is likely to take that long. And, ironically, the rise of Apple Pay was cited in one such report as being one of the major reasons for the slowdown in adoption of Chip + Signature in USA!