Nick Ogden - RTGS.global - London 13 June, 2016, 19:59 1 like

Once this has some traction and proof points on chargeback and refund volumes the merchant service charges for accepting Apple Web should fall dramatically for these transactions. It would be great to see some card scheme comments on this exciting trend? 

Arjeh Van Oijen - Icon Solutions - Amsterdam 14 June, 2016, 09:23 1 like

With PSD2 coming up (in Europe) and that banks in other parts of the world are voluntarily starting to make customer account accessible via APIs for non-banks (Morgan Chase with Wallmart and Shell in US, several Chinese banks with WeChat Payments), there is no need for Apple to become a bank in order to provide the customer a seamless and instant payment service to the end user and merchants. I agree this development will create a major threat for the traditional card brands.

A Finextra member 14 June, 2016, 09:42 2 likes

Good points from Matt Scott & Arjeh van Oijen. Few years from now, banks and card networks will never look the same as today. Many will disintegrate and some will disappear. At the same time, UX requirements are already on a different level and are racing ahead.

As yet, you still need cards in all non-bank API's. Thus, these are not the game changer although they try to pose as such.

The paradigm shift is coming with Chase Pay that makes do without any intermediary (cards or others). Hence a totally new customer insight and intimacy that admittedly still needs to be spread, leveraged and enhanced.

A Finextra member 20 June, 2016, 11:39 0 likes

I broke my Iphone 5 screen a while ago - In my case, the screen replacement process disabled the Touch ID function...I am told forever.... and this is a common problem, so until i replace my phone (i dont need a 6 yet) and all the other broken screen sufferers replace theirs, we are not Applepay customers..  As Apple watch is not prevalent, and the Mac/Safari is not exactly a mass market product in the non US world is Applepay/web really going to be that big?   Matt, you are right, Apple is not worried about customers,  they should worry about their reputation and the next big thing... Applepay does not look like it to me.