Apple credit card with fingerprint authorization

So is this procedure developed by Apple for your credit cards going to become a major way of conducting transactions. By major, I mean will a limited group of people stop carrying cash.

Is it going to be minor, a simple credit card replacement.

Or is it going to become a limited application, competing with other technologies.

Quote: Pacomartin

So is this procedure developed by Apple for your credit cards going to become a major way of conducting transactions. By major, I mean will a limited group of people stop carrying cash.

Is it going to be minor, a simple credit card replacement.

Or is it going to become a limited application, competing with other technologies.

Just Apple, minor.
Samsung Android gets in on the action, major.

Quote: Pacomartin

Is it going to be minor, a simple credit card replacement.

Or is it going to become a limited application, competing with other technologies.

I'm going to get stuck in line behind the guy who either doesn't know how to work that "feature" on his phone (but has to use it), or is having technical problems and can't get the phone to pay (but has to use it).

I don't want my ability to pay for a transaction to be contingent upon my phone battery not dying. Those batteries die at the worst possible moments.

This is a solution in search of a problem. Is it that difficult to carry a wallet/purse with a couple credit cards in it?

Arguably there are security failures with credit cards, but smartphones are not 100% immune to hacking & viruses.

Quote: reno

This is a solution in search of a problem. Is it that difficult to carry a wallet/purse with a couple credit cards in it?

Arguably there are security failures with credit cards, but smartphones are not 100% immune to hacking & viruses.

Is this is a solution in search of a problem? Always a good question. The thumbprint may be more of interest for online purchases. The credit card is usually hidden in your pocket (or purse). People often leave their phones on the table so they are convenient to get at. The number of phone grabs may increase if there is a belief that they can be hacked.

RFID chips in credit cards also reduce some of the stress of a destroyed magnetic strip.


Cash is an issue. Some credit cards give back 1% in purchases. This makes them more likely to be used than cash, which reduces the difficulty of handling cash at the store.

It's big because it circumvents the credit card companies. Fees would be lower and retailers would favor it. Could even be used between private parties to settle debts which would never otherwise consider using credit cards. The watch uses the same tech and seems interesting. Questionable if people will wear watches again, but if they do, they sure will never wear two. Loyalty to apple could be huge if the watch succeeds because nobody is used to wearing them anymore and apple is the only one with a watch.

Quote: terapined

Just Apple, minor.

"Just" Apple? That's a pretty ignorant statement considering that the iPhone is the most popular phone in the world.

But with that said, this isn't going to replace credit cards because it doesn't make the task of purchasing things easier at all. In fact, it adds more steps to the process.

Think about it. What's easier: Pulling out a small, almost weightless plastic card and swiping it? Or grabbing your cell phone, taking it out of its case, turning it on, navigating to the desired app, activating it, and THEN completing the transaction???

Quote: reno

This is a solution in search of a problem. Is it that difficult to carry a wallet/purse with a couple credit cards in it?

+1

I predict within a year we'll see a story about gangs chopping off people's thumbs so they can use their stolen iPhones. That's one reason I oppose the whole idea of biometric ID.

Quote: Nareed

I predict within a year we'll see a story about gangs chopping off people's thumbs so they can use their stolen iPhones. That's one reason I oppose the whole idea of biometric ID.

I suppose that is better than stealing eyeballs.


I don't think that the Apple product intends to replace credit card companies initially. It is just procedural with the added security of thumbprint recognition.

At some point in the future it makes sense that you will be able to download cash from your bank into a "wallet" where you can spend the money directly. You limit the amount of money in your electronic "wallet" just as you limit the amount of currency in your real wallet so that you only lose a tolerable amount if your phone is lost or stolen.




Remember that this commercial is now 8 years old.

I think the watch will be a big success. It's more secure and harder to lose than a phone, you don't need a pocket or purse to carry your phone, you can run into the store with empty hands, on and on. right now the centerpiece is the only active part, but it will soon be the entire face+watchband with usable display/input. If you're able to use the phone, listen to music/watch video, surf the web, and use your gps/inertial functions (location, health indications, motion sensors translating gestures into input) all in the same device without having to hold it, I think it will be the must-have standard within 10 years. Add a pair of video glasses/earbuds on Bluetooth technology, and you've got a quality media experience that will kill laptops/tablets/etc.

One gripe; the current watch is only available in a right-handed config. C'mon, guys!