CFPB probe of Apple Pay

Posted on September 11, 2023 by InsidePmts

© Starpoint LLP, 2022. No part of this site, blog.starpointllp.com, may be reproduced or retransmitted in whole or in part in any manner without the permission of the copyright owner.

The CFPB issued a new report last week on the impact that Apple/Google have on payments. Some key excerpts below

I see this as round 4 for Apple. The first rounds were fought with mobile operators and their GSMA TSM vision. The next with Australia (2016) then EU (2019). I find the timing of this report very interesting. As CFPB report came just months after US Issuers pushed Apple to eliminate its 15bps fee (a fee they voluntarily signed up for). I wonder if the CFPB knew that the Issuers collectively sought to eliminate the fee, or that they would like to expand PAZE to NFC/POS in order to lock a new wallet app which would DECREASE BANK COMPETITION (and cut out Apple).

You need to be logged in to view the rest of the content. Please . Not a Member? Join Us

Back from Europe

Posted on June 24, 2023 by InsidePmts

Sorry for the long quiet period. My youngest just graduated High School and as a WWII history buff, his gift was the Band of Brothers tour from Normandy to Salzberg. We came away with a new appreciation for the cost of freedom and the sacrifices made all of those in the armed forces.

European Payment Insights

Covid had put a long pause on my travel to Europe. In the 6 countries we visited I was pleasantly surprised at the broad acceptance of contactless and tap to pay. Beyond tapping with my iPhone, most restaurants first attempted to tap cards before a “dip”. Contactless now comprises ~60% of POS transactions, a behavior 3-5 yrs more advanced than the US and certainly one of the drivers of card GDV growth in the EU. The V/MA position is Europe is perhaps stronger than in any other market, as any new scheme would also need to integrate seamlessly into this acceptance (and presentment) infrastructure.

Continue reading →

Apple Tap and Pay – Square and Why It is a Big Deal?

Posted on June 6, 2022 by InsidePmts

6 June 2022

Square’s stock (aka Block) took a big jump after last week’s announcement that they would also be a partner in ApplePay’s new ability to accept payments. Today I thought I would cover what this will (likely) look like and 5 reasons why Apple Tap and Pay is a big deal.

You need to be logged in to view the rest of the content. Please . Not a Member? Join Us

Apple Pay Fees (Short Blog)

Posted on October 6, 2021 by InsidePmts

Thought I would give more detail on whats going on with V/MA, Issuers and Apple (from WSJ article yesterday Apple Pay Fees Vex Issuers). Perhaps I’ll collect a fee from the WSJ.. odd that I mention Apple Pay fees on Monday to have it come up in the WSJ on Tuesday. Oh well..

You need to be logged in to view the rest of the content. Please . Not a Member? Join Us