Tag Archives: ApplePay

Wallets, APIs and Trust

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6 Page Blog

Top of mind today are Wallets, Identity and Application Program Interfaces (APIs). APIs are the core concept behind many new business models investors must decipher:

  • Software as a Service (SaaS)
  • Payments as a Service (PaaS)
  • Banking as a Service (PaaS)
  • Open Banking – PISP, AISP, ..etc
  • Account Aggregation – FDX, Plaid, Akoya, … etc
  • Payment Service Provider (PSP) – Stripe, Adyen, PYPL/Braintree, … etc

Previously, I’ve covered this topic in Open Banking and Open Payments and Trust Networks (2020)  Part 3 – Internet 2.5 (2022), Modularity and Trust (2022) and Evolution of V/MA – Moving Beyond Cards (2021). Summary points from these previous blogs:

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Apple Launches Pay Later

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https://www.apple.com/newsroom/2023/03/apple-introduces-apple-pay-later/

Apple Pay Later was announced at Apple’s WWDC on June 6, 2022  (Youtube – ~21:00 in). I covered the details last year in Apple Pay Later – What is it? 

Today it is going live in a limited rollout. Summary points

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Merchants Tokenize – eCom Wallet Challenges

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UPDATE – Nov 29 2022 – Note that I have conflated the relationship between SRC and 3DS 2.0. 3DS 2.0 is the authentication protocol used by SRC. 3DS 2.0 has been widely adopted as a mandatory replacement to 3DS 1.0. Part of the driver for adoption was the EU SCA mandate. SRC has NOT been widely adopted as it is a fairly broken consumer experience at the moment. 

I’m at M2020 today and it has been a “back to normal” fantastic event. Let me put my “merchant hat” on for a story from their perspective.

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Apple – #1 Payment Innovator

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As Apple is set to launch the iPhone 14 today, I was thinking about the significance of ApplePay’s innovations to V/MA and how these innovations benefit the entire network of merchants and consumers. Making payments easy is hard… Apple is the lead “innovator” within the V/MA networks at the consumer touchpoint (with Google, Samsung, PayPal and others in the mix). Their “wallet” and branded integration into both POS AND mCom is unrivaled and represents 93% of all mobile wallet payments in the US (2021).

This 2021 Pulse Network Debit Whitepaper provides the best public view on performance (US Only), with TPV CAGR over 50%. Quite frankly, when it comes to mobile payments, it’s silly to talk about anything else by ApplePay in the US

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