The number of retailers that accept Apple Pay from iPhone or Watch is growing, but will never become mainstream. Tera Thomas O’Brien explains why.
Apple Pay will never be everywhere in the same vein as MasterCard and Visa exist everywhere today. Why not? The technology is there, right? The answer here has more to do with my theory on the modern world. Instead of the earth becoming a small village where everyone knows everyone else, and we all work together for our common good, and technology works for the good of mankind, I see far more fragmentation at every level of society, technology included.
You’ll never be able to use Apple Pay everywhere because too many merchants are greedy and put their company’s needs higher than their customers. Most retailers and businesses handle MasterCard and Visa with no problem, but Apple Pay rides on top of both and needs agreements with various banks so credit cards will work appropriately.
That’s it in a nutshell. Great technology. Greed merchants threatened by loss of control.