Originally Posted by
mikesyr18
Apple has an uphill battle here. It's easier to teach people to use physical contactless cards rather than contactless from a phone... The phone adds various steps (setting up the card and then using it). Ultimately, banks can just disable Apple Pay capabilities from their cards entirely, and Apple will come out as the loser.
As a seasoned contactless user, I find contactless cards easier and more practical to use. I find a lot of cashiers don't even hit the "card" button on the register until I pull one out. I'll take whichever method makes the process more seamless (and Apple Pay wouldn't be as seamless of an experience as a physical contactless card is).
You need to keep in mind the initial target audience:
Tech savvy people who are signing up *because* it is being touted as a superior contactless option. Apple probably expects most people signing up to be in the 18-35 year old range. I’m sure Apple/GS is expecting this to be many people’s first credit card.
Additionally, there are 1,000,000s of sub 18 year olds with iPhones who will likely sign up for this card the moment they turn 18. Think of the speed to market vs getting some junk mail addressed to an 18 year from Credit One Bank.
Do not be surprised that once this card is released more people are specifically asking to use Apple Pay. I know I ask *everywhere* I go if they accept Apple Pay because I want 4.5% cashback on my Altitude Reserve.