facets of apple pay: apple watch - insights & thoughts
TRANSCRIPT
Insights & Thoughts
Facets of Apple Pay: Apple Watch
November 24, 2015 – Dr. Thomas Fromherz
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Intro
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Intro
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New Family of Devices
Netcetera | 5Source: PayWear / wear2pay.com
Payment Devices
Netcetera | 6Source: PayWear / wear2pay.com
Payment Devices
Netcetera | 7* Source: iSkin
Embodied Devices & Payment
Netcetera | 8Source: bbc.com / cbsnews.com
Embodied Payment
Netcetera | 9Source: The Sidney Morning Herald
Embodied Payment
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Update on Apple Pay
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Adoption
Total: 14%
Gen X (33-46Y): 48%
Millennials (18-32Y): ~rest
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Adoption
~50% of Apple Pay users
ready to leave wallet at home
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Adoption
~50% of Apple Pay users
would be ready to leave wallet at home
if there were enough NFC terminals
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Friction
Not enough acceptance points
Not recognizing contactless terminals
Not understanding features
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Friction
2 out of 3 had problems with Apple Pay
Terminal took too long
Cashier unfamiliar with Apple Pay
Transaction posted incorrectly
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Fraud
Provisioning fraud
Education by schemes & measures by banks
dramatic decrease
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International Expansion
Internationally, barrier is fee structure
Netcetera | 18http://www.slideshare.net (Stichworte: Apple Pay, Fromherz)
Apple Pay on Apple Watch
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Registration of Card for Apple Pay
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Add card separately for Apple Watch
Process through “Watch” app
Registration now 2-step process
Registration
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Tightened identification step
Call center not enough
Needs one-time code
Registration (cont.)
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Registration (cont.)
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Registration (cont.)
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DAN different on Apple Watch and
iPhone
Registration (cont.)
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Payment with Apple Watch
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Video shows transaction at
Migros and KKiosk
Payment with Apple Watch (cont.)
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Video shows transaction at
Migros and KKiosk
Payment with Apple Watch (cont.)
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Double-tap lower button on watch
cards appear
Payment with Apple Watch (cont.)
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No Touch ID: no need, pin on watch
iPhone presence not required
Receipt shows DAN, not PAN
Watch app doesn’t show transactions
Payment with Apple Watch (cont.)
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Final Thoughts
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Terminals
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Self-Scanning Terminals
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Terminals
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+41 44 297 58 18
Dr. Thomas Fromherz – Head of Payment & Card Services
Contact
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