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Is Apple Pay Losing its Shine?

Recent surveys show Apple Pay adoption in the US may be declining and concerns about security still plague the service.

PYMNTS.com recently published an insightful analysis around the trends in ApplePay adoption, and it’s starting to look like only a core group of die-hard fans are using the service.

My guess is these are the same people still wearing Apple watches but I may be wrong. 

http://www.pymnts.com/news/payment-methods/2017/apple-pay-adoption-down-and-so-is-the-hype-mobile-pay-usage/

 

Security of Apple Pay still a concern for customers

A recent article from the Wall Street Journal pinned the decline on security fears and merchants not doing enough to train their staff.

https://www.wsj.com/articles/apple-pay-promised-to-make-plastic-obsolete-then-came-wary-shoppers-confused-clerks-1491384606

I’ll go on record and say I’m very impressed with the security features of Apple Pay and most concerns from users are misplaced.

With that said, it doesn’t help that people are learning that even the fingerprint sensors on their phones are not as secure as they thought.

A recent NY Times article highlights the work of researches who were able to fool fingerprint sensors with a set of fingerprints with “common” traits.

https://www.nytimes.com/2017/04/10/technology/fingerprint-security-smartphones-apple-google-samsung.html?smid=li-share&_r=1

Yikes!  I’m going to start using my toes!

 

Too many clicks!

As cool as it sounds to use your phone to pay at a store, the reality is that it’s not much easier than just pulling a card out of your wallet and putting it in the reader.

Even if it were significantly easier, the other reality is that you still have to carry your plastic cards wherever you go.

Someday there might be 100% acceptance of Apple Pay and we can leave the plastic at home, but until that happens, we will carry both and figure out which one to use at every store.

 

What’s next?

MasterCard recently announced a kind of “retro” idea to ditch the mobile wallets and put fingerprint sensors right on the card.

https://www.engadget.com/2017/04/20/mastercard-biometric-fingerprint-card/

It’s an interesting idea that answers some security concerns in the store, but doesn’t do much for mobile or desktop e-commerce payments (unless you have a Chip Shield card reader!).

I think we’ll end up with lots of ways to pay for things and there will never be a single approach that everyone adopts.

I’m still waiting for Telepathy Pay that orders me pizza whenever I think about being hungry.

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