Major Banks Plotting Wallet App to Destroy Apple Pay – The Credit Shifu

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20 comments

Kam January 25, 2023 - 9:07 pm

I don’t mind competition. Personally I use the physical credit card more often. I also use Apple Pay for my catch all payment. I like to have a variety in the way I pay.

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Gerome Marchand January 25, 2023 - 9:11 pm

Amazing videos and thank you for breaking it down!! Despite the economic downturn, I’m so happy I have been earning $ 55,000 returns from my $9,000 investment every 14 days.

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John Leyba January 25, 2023 - 9:28 pm

Great info here Ben!

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Albert Castro January 25, 2023 - 9:58 pm

Great Review !

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Dannee Boy January 25, 2023 - 11:45 pm

It honestly isnt gonna kill Apple Pay. Apple Pay is so easy to use and user friendly. Yes, it is good to have competition, but Im sure this isnt gonna break Apple Pay.

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C M January 26, 2023 - 1:25 am

There's also the potential of not having to deal with Apple's process for getting a card in Apple Pay…it's a more complicated build than consumers may realize to make it "seamless"…and if the banks working on this are trying to cut down on their time to market getting cards in digital wallets, their headcounts of people who have to build the pipes that move the tokens & transactions around in the background, and want to have more control over the digital payments ecosystem overall, you can see why they'd want to cut out Apple.

(And if it works to take a bite out of Apple, then you could do the same to Google, Samsung, PayPal/Venmo, etc.)

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Boon Doggle January 26, 2023 - 1:54 am

Unless they give me a higher return on spend, I see no reason to not use Apple Pay. I hope that we continue to see PayPal and digital wallets as quarterly categories on the CFF and Discover It.

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R N January 26, 2023 - 1:57 am

I swear I saw you jogging across Brooklyn Bridge today

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Christopher Smith January 26, 2023 - 1:57 am

If this is from the people who made zelle I think apple is fine 😂

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PaPi cHuLo January 26, 2023 - 2:17 am

I would still use apple pay regardless…

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Rushabh Shah January 26, 2023 - 3:42 am

Will this work on iPhones? Apple won't give a third-party app NFC access, so they'll have to use something like a QR code…

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Sean M January 26, 2023 - 4:05 am

Listen up Ben. Half of your material is good and half of it is bad/ false info. Do not mislead people. People need to expererience life in the real world and figure out what's really going on. Best of luck to you.

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Jeff Scalfano January 26, 2023 - 5:56 am

Lol… a typical Apple user. If you look back at the history of Apple they were first at almost nothing, even though their keynotes would have you believe otherwise, and this is another example. Google Pay came out 3 years before Apple pay, and Android phones used NFC years before that. Almost anything you think Apple did first they really just borrowed it, and then isolated it so they could exclusively capitalize on it.

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Scott Lemiere January 26, 2023 - 8:01 am

The US wouldn't interfere with the banks the way that Australia did. They WOULD prohibit Apple from restricting access to the app through their store, US courts already have hit Apple for blocking apps.

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Cazaril Olsen January 26, 2023 - 10:13 am

Zelle is awful o use. Apple pay is so easy. Have a feeling Apple will stay the leader.

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AncientEsper January 27, 2023 - 3:32 am

They can't even get Zelle right, relax…..

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George Senda January 27, 2023 - 7:03 am

After Apple and Goldman saying publicly that they would approve cards for people with damaged credit, I applied and had a credit score of 650. They denied me.
The charge offs I had were due to illness or injuries.
I went 3 years and never missed a payment on my 11 accounts until I had covid.

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Drifter Travels January 27, 2023 - 1:45 pm

Use Apple Pay around the world, even in countries where it is not available to local people. It just works so reliably and flawlessly and do not need an internet connection. I would be surprised if this new app even comes close to challenging Apple Pay.

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Derik Aasan's Level Up Travel January 29, 2023 - 1:34 am

Would I still get 3x on all Mobile Wallet Payments with my US Bank Altitude Reserve? That’s all I care about…

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Spencer Johnson January 29, 2023 - 2:13 am

Apple has too big of a hold on everything digital for people to really switch to other products in my opinion. I'm always a fan of competition, but it's hard to compete with Apple… Thanks for sharing Ben!

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