Apple Pay is a big yawn

YawnThe Tame Apple Press dubbed 2015 as the year of “Apple Pay” when everyone would be using their Jobs’ Mob handsets to buy goods.

However it does not look like that is happening very quickly, in fact Apple’s favourite news agency –Reuters admits it is not happening at all.

Apple has aggressively courted retailers – and claimed “significant success” with half of the top merchants agreeing to use it.

However interviews with analysts, merchants and others suggest that Apple’s forecast may be too optimistic and that many retailers remain sceptical about the payment system.

Part of the problem is that it is super good for Apple, customers are locked in more tightly to its phones and its new smart watch and it collects a tithe from retailers.

That is the problem, there is absolutely no reason for cash strapped retailers to use the payment system at all, and there is a bag of pain if they do.

Reuters rang up all the top retailers and could only find four who said they have plans to join the program in the next year.

The top reasons retailers cited for not accepting Apple Pay were insufficient customer demand, a lack of access to data generated in Apple Pay transactions and the cost of technology to facilitate the payments.

Some merchants said they were holding out because they plan to participate in a new mobile payment system to be launched by a coalition of retailers later this year.

Reuters has done its best saying that Apple Pay’s market share has grown dramatically and there was more acceptance of Apple Pay. But at the end of the day, it has to admit that the system is a large turkey gobbling its way to Christmas.

Apple’s sales teams have been out in full but surprisingly its Apple fanboys have not been asking for the service at all.

Apple’s business partner in all this IBM also admits things are not going that well. Alberto Jimenez, program director for mobile payments at IBM said Apple has yet to answer the question “what is in it for us if we use Apple Pay?”

The program doesn’t offer loyalty rewards to customers, nor does it provide customer information to retailers about Apple Pay users.  In short it is a chocolate teapot.