I told you so in September.. Apple has created its own acceptance brand. Retails can now buy a decal kit on Apple’s site (ApplePay Kit). Great overview in Apple Insider this week covering merchant instruction where to put the decals “above all others” (door, register, terminal). From
@BrianRoemmele I received this picture.
Why would Visa, Mastercard and Issuers allow this!? I’m just flabbergasted. Banks pay 15bps, V/MA do 90% of the work.. and Apple creates a new acceptance brand without doing any role in the financial process?
As I predicted.. payments are not in the top 10 reasons most consumers buy a new iPhone, with only 6% of iPhone 6 customers even trying it (per the Apple insider article above).
See my long blog on the issues that this branding will cause Apple – ApplePay and Merchants (Sept 2014).
What are Banks to do? Merchants? Focus on value both individually and collectively. Payments are a brokering business.. Creating a new brand that no one can control is not a fast way toward “partnering” with either businesses or banks.
Oh.. and for goodness sake .. say a little something about this branding. Perhaps adjust the decline rate on AP relative to cards.. ?? (Apple didn’t authenticate you.. we would like to approve)