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August 2, 2022

On the web

Third-Party Browsers Starting to Support Apple Pay in iOS 16 Betas


“Apple has added Apple Pay support to third-party browsers in recent betas of iOS 16 and iPadOS 16. The added support, spotted by MacRumors contributor Steve Moser, marks a change from iOS 15 and iPadOS 15 and earlier, where in-browser ‌Apple Pay‌ is exclusively available in Safari. Moser found that ‌Apple Pay‌ is available in Microsoft Edge and Google Chrome as of iOS 16 developer beta 4, and other users have noticed ‌Apple Pay‌ support in Mozilla Firefox. Moser noted that ‌Apple Pay‌ support continues to be unavailable on the macOS versions of Edge and Chrome, presumably since they do not use WebKit, Apple’s browser engine that is mandatory for third-party browsers on iOS and iPadOS. This suggests that ‌Apple Pay‌ support is dependent on WebKit and this is the location of any changes Apple has made to expand support for ‌Apple Pay‌.”

July 22, 2022

On the web

Apple’s Version of Virtual Cards Could Be Coming in iOS 16


“Just as Google announced it would be adopting virtual cards for shopping through Chrome, Apple is likely also implementing virtual cards in its Safari browser. The news comes from 9to5Mac, which is currently digging through the iOS 16 beta 3, released yesterday afternoon for developers. According to code the site has seen, Apple has apparently been working to implement virtual cards within Safari to keep your online shopping ventures secure across the board.  Virtual cards are offered by some banks as an option while shopping online so that your actual card and account information isn’t what’s making the rounds when data breaches occur. It also makes it easier for banks and other institutions to cancel a card on a whim. And it’s a more straightforward mechanism for providing one-time use cards.”

July 18, 2022

On the web

Lawsuit Accuses Apple of Antitrust Violations Over Apple Pay


“Apple Inc was sued on Monday in a proposed class action by payment card issuers accusing the iPhone maker of abusing its market power in mobile devices to thwart competition for its Apple Pay mobile wallet. According to a complaint filed in San Francisco federal court, Apple “coerces” consumers who use its smartphones, smart watches and tablets into using its own wallet for contactless payments, unlike makers of Android-based devices that let consumers choose wallets such as Google Pay and Samsung Pay.”

July 12, 2022

On the web

Payments Platform Adyen Expands Apple’s Tap to Pay Feature on iPhone to More Businesses

9 to 5 MAC

“In April, Adyen announced it would partner with Apple to offer the company’s Tap to Pay feature on the iPhone. The function, which allows businesses to use their iPhones to “seamlessly and securely” accept Apple Pay payments with a simple tap, is now available with the global financial technology platform Adyen.   By partnering with NewStore, businesses, including Vince and Burton, can accept payments with a simple tap of a customer’s iPhone. A blog post shows that Adyen is also partnering with New Black to enable this capability for retailers, including G-Star and Scotch & Soda. Last but not least, it will also be made available directly to retailers and platforms like Nike, Lightspeed Commerce, and Fresha.”

Apple’s Version of Virtual Cards Could Be Coming in iOS 16

Gizmodo Australia

“Just as Google announced it would be adopting virtual cards for shopping through Chrome, Apple is likely also implementing virtual cards in its Safari browser. The news comes from 9to5Mac, which is currently digging through the iOS 16 beta 3, released yesterday afternoon for developers. According to code the site has seen, Apple has apparently been working to implement virtual cards within Safari to keep your online shopping ventures secure across the board. Virtual cards are offered by some banks as an option while shopping online so that your actual card and account information isn’t what’s making the rounds when data breaches occur. It also makes it easier for banks and other institutions to cancel a card on a whim. And it’s a more straightforward mechanism for providing one-time use cards.”

July 6, 2022

On the web

Why Apple’s BNPL Efforts Could Mark a ‘Tipping Point’ in Lending


“Apple Inc.’s expansion into buy-now pay-later financing could be just the beginning of an attempt to shake up the traditional payments system. The consumer-electronics giant has made other ventures into financial services before, including through its Apple Pay payment technology and a co-branded credit card done with Goldman Sachs Group Inc. However, Apple’s BNPL launch, announced in June at its WWDC developer event, is notable because the company has decided to take on lending functions itself through a new in-house finance arm…For Pay Later, Apple is leveraging Mastercard Installments, a program by the card giant that lets lenders make installment offers to customers, and Apple’s new finance arm will maintain state lending licenses. Goldman will be the issuing bank, but “in name only,” according to Noyes, since the smartphone giant is creating a new Apple Financing LLC lending entity that will make credit decisions.”

July 5, 2022

On the web

Apple Wallet Is iPhone’s New Secretly Sticky App


“Getting blue text bubbles in your Messages app, instead of green ones from non-iPhones, is supposedly Apple’s method of device lock-in. But, even more so, Apple Wallet is suddenly becoming the reason to continue using an iPhone—it keeps the device sticky so existing owners don’t jump ship. It’s been a slow burn to creating this must-have app, but now with its hook in a few key areas, like Apple Pay, ID cards and event tickets, the Apple Wallet could become increasingly hard to live without.”

Apple Eyes Fuel Purchases From Dashboard As It Revs Up Car Software


“Apple Inc. wants you to start buying gas directly from your car dashboard as early as this fall, when the newest version of its CarPlay software rolls out, accelerating the company’s push to turn your vehicle into a store for goods and services. A new feature quietly unveiled at Apple’s developer conference this month will allow CarPlay users to tap an app to navigate to a pump and buy gas straight from a screen in the car, skipping the usual process of inserting or tapping a credit card. Details of Apple’s demo for developers have not previously been reported.”

June 13, 2022

Top Post

Apple Pay Later Will Max Out at $1,000 — No Buying a MacBook Pro for You!


“Apple’s upcoming buy now, pay later service will only allow people to borrow a maximum of $1,000 based on their credit rating and other factors, including their Apple ID. While Apple will run soft credit checks before allowing people to use its Apple Pay Later feature when iOS 16 ships this fall, it will reportedly also use the data it already holds on people to inform its money-lending decision. A WSJ report notes that Apple intends to only allow people to borrow $1,000 at most, even if their credit score is good and their Apple ID doesn’t display a history of payment problems.”

June 9, 2022

On the web

Apple Passkey Feature Will Be Our First Taste of a Truly Password-Less Future


“Apple and other tech giants want to get rid of passwords for online accounts and apps. Here’s why that’s going to be a great thing for your online account security.   At its WWDC 2022 keynote on Monday, the iPhone maker announced a new feature called passkeys. It’s essentially a new type of security that seeks to replace passwords for account login purposes. It will debut in the fall on iOS 16, macOS Ventura, and Apple’s other 2022 updates.  See how it works….”

Apple’s Pay Later Installment Credit Scheme Will Live Under a New Lending Subsidiary

Yahoo Finance

“The news that Apple would offer its own “buy now, pay later” service splitting any Apple Pay bill into installments hit the fintech lending world like a thunderbolt. But it turns out the new feature, while simple for consumers, necessitated a bit of backstage reorganizing at Apple, including a whole new subsidiary that will run it…. In order to do it internally, Apple had to form a fully owned but separate subsidiary called Apple Financing LLC, Apple confirmed to TechCrunch after Bloomberg first reported the news today. This company will be doing the actual work of assessing and issuing credit in compliance with the usual requirements and obtain the necessary licenses to work in each regulatory jurisdiction. And of course if everything goes up in flames, only the LLC burns down. It’s important to note that Apple did not get a bank charter for its new Financing LLC — though banks are often lenders, the reverse is not always true. It’s partnering with Goldman Sachs as the Mastercard credential provider rather than take on that role itself, and Pay Later uses the Mastercard Installments program as its basis.”

June 7, 2022

On the web

Apple Officially Enters Buy Now, Pay Later Space

Chain Store Age

“The increasingly popular buy now, pay later (BNPL) flexible payment solution market has a major new player. Almost a year after media reports first circulated suggesting it was getting set to launch a BNPL solution connected to its Apple Pay digital payment service, the tech giant is releasing Apple Pay Later as part of several new upgrades to its Apple Wallet mobile wallet solution. These upgrades are part of a wider operating system update known as iOS16.”

June 6, 2022

On the web

Apple Leaps into BNPL Space as Affirm Stock Takes a Hit

“Apple today announced that it would join the Buy Now, Pay Later (BNPL) fray at its Worldwide Developers Conference 2022, or WWDC.   The service, called Apple Pay Later, will be available through Apple Pay, allowing consumers to pay for purchases in four equal payments over six weeks with no interest or fees.”

June 2, 2022

On the web

Square’s Payment App Will Support Tap to Pay on iPhone Later in 2022


“Square has announced that it will bring Tap to Pay on iPhone support to its existing point of sale app, allowing users to receive contactless payments without any additional hardware.   The feature, which Apple announced in February, essentially allows users to turn an iPhone into a contactless payment terminal. Now, Square says it’s bringing support for the feature to its iOS app. Square says that the new feature will launch later in 2022, but it is debuting an early access program for select merchants starting Tuesday.  At launch, Apple said that Stripe would be an early partner adopting Tap to Pay on iPhone when it’s widely launched.”

May 27, 2022

On the web

May 23, 2022

On the web

Why Apple Has Acquired a UK Open Banking Fintech Firm

International Banker

“With little fanfare accompanying the move, popular cryptocurrency media publication The Block reported on March 23 that US tech giant Apple had acquired Credit Kudos. The acquisition had reportedly closed earlier that week, with Credit Kudos valued at $150 million. But as of today, there remains some speculation over exactly why Apple decided to make this particular move. Credit Kudos is a UK-based open-banking start-up that helps lenders make better decisions and deliver finely tuned credit scores.”

April 25, 2022

On the web

April 1, 2022

On the wires

March 30, 2022

Top Post

Apple Working to Bring More Financial Services In-House


Apple Inc. is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter. A multiyear plan would bring a wide range of financial tasks in-house, said the people, who asked not to be identified because the plans aren’t public. That includes payment processing, risk assessment for lending, fraud analysis, credit checks and additional customer-service functions such as the handling of disputes.”

March 23, 2022

On the web

Apple Sends New Offer to Dutch Antitrust Authority Over Dating Apps Payments, Racks up 9th Fine


“Apple has been fined again in the Netherlands over an antitrust order related to dating apps. The order requires it to allow local dating apps to be able to use third-party payment technologies if their developers wish, rather than being locked to only being able to use Apple’s in-app payment API for iOS. Since January, the Authority for Consumers and Markets (ACM) has levied a series of (weekly) penalties against Apple for what it asserts is continued non-compliance with the order. The latest €5 million fine (the ninth) brings the total penalties against Apple on this issue up to €45 million (out of a maximum possible of €50 million if it again fails to satisfy the regulator by next week).”

On the wires

Apple Acquires UK Open Banking Startup Credit Kudos

The Block

“Credit Kudos, a UK open banking startup that helps lenders make better decisions, has been acquired by US tech giant Apple. The deal closed earlier this week, according to three people close to the deal. One source said it valued the startup at about $150 million, a significant uplift in valuation. A link labeled ‘Website Terms of Use’ on the Credit Kudos website currently leads to a page outlining Apple’s terms of use. Both Credit Kudos and Apple were contacted for comment but did not respond by press time.”

January 24, 2022

On the web

Apple Fined After Failing to Meet Dutch App Payment System Rules


“A Dutch regulator has fined Apple Inc. for failing to allow rival payment systems for dating-app providers. Although the fine — just 5 million euros ($5.7 million) every week with a total limit of 50 million euros — is a fraction of Apple’s $365.8 billion-annual revenue, the decision is a sign regulators are hardening their resolve against the U.S. firm’s payment methods.”

January 12, 2022

On the wires

Apple Services Enrich Peoples’ Lives Throughout the Year

“Apple Pay provided even more customers with a secure and easy way to pay in-store and online around the world after expanding to nine new markets in 2021, including Colombia, Israel, and Mexico. Today, Apple Pay is available in nearly 60 countries and regions, and works with nearly 9,000 bank partners worldwide.Apple also continues to deliver on its vision of replacing customers’ physical wallets with Wallet, an easy-to-use and secure digital wallet.”

January 11, 2022

On the web

Apple Submits Plans to Allow Alternative Payment Systems in S.Korea – Regulator


“South Korea’s telecommunications regulator said on Tuesday Apple Inc (AAPL.O) had submitted plans to allow third-party payment systems on its App Store to comply with a law banning major app store operators from forcing software developers to use their payments systems. The Korea Communications Commission (KCC) had requested Apple and Alphabet’s (GOOGL.O) Google to submit compliance plans after the bill was passed in August last year and went into effect in September.”

December 15, 2021

On the web

December 9, 2021

On the web

Epic V. Apple Ruling Put on Hold After Appeals Court Grants a Stay

The Verge

“An appeals court has paused one of the most consequential parts of the Epic v. Apple ruling, placing a stay on the enforcement of the injunction issued by the lower court. As a result of the stay, Apple can maintain its IAP system as the sole source of in-app payments on iOS, despite the district court’s earlier ruling that the exclusive arrangement is illegal. The stay, issued Wednesday afternoon, does not reverse the earlier ruling but puts enforcement on hold until the appeals court can fully hear the case, a process that will likely take months.”

November 15, 2021

On the web

Apple Is Sticking Taxpayers With Part of the Bill for Rollout of Tech Giant’s Digital ID Card


Apple is making U.S. states foot part of the bill and provide customer support for its plan to turn iPhones into digital identification cards, according to confidential documents obtained by CNBC. The company requires states to maintain the systems needed to issue and service credentials, hire project managers to respond to Apple inquiries, prominently market the new feature and push for its adoption with other government agencies, all at taxpayer expense, according to contracts signed by four states.”

November 4, 2021

On the web

Facebook Skirts Apple’s App Store Fees With Custom Subscription Links for Creators

The Verge

“Facebook has found a way to skirt Apple’s 30 percent tax on in-app transactions. On Wednesday, Mark Zuckerberg, the CEO of Facebook parent company Meta, announced that creators will soon be able to share custom web links directing their fans to pay them for subscriptions using Facebook’s native payments system. If a fan signs up through the link rather than Apple’s in-app subscription, the creator will keep all of the money minus taxes.”

November 1, 2021

On the web

October 6, 2021

On the web

EXCLUSIVE Apple to Face EU Antitrust Charge Over NFC Chip – Sources


“Apple (AAPL.O) will be hit with an EU antitrust charge over its NFC chip technology, people familiar with the matter said, a move that puts it at risk of a possible hefty fine and could force it to open its mobile payment system to rivals. The iPhone maker has been in European Union antitrust chief Margrethe Vestager’s crosshairs since June last year when she launched an investigation into Apple Pay.”

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