I think this is a part of a larger strategy for Apple. With the Visa/MC liability shift coming in just 11 months you have to think about how banks/issuers are going to arm their customers to pay with chip and choice, how do they "train" consumers on using it (no more "swiping" in commercials), and how do they ensure that merchants get upgraded hardware to take the cards? Apple has set themselves up to be one of those vehicles once the "EMV-Day" ball gets rolling. Everyone already has a smartphone to pay with EMV - level security - now its just the merchant's turn. And where will they turn to? All the choices and costs out there with our usual terminal suspects? Or does Apple come out with their own "iMerchant" device to help people complete the picture? Have you ever known Apple to have a device that is open ended? Nope, neither have I. I think Apple Pay is just Apple's foot to get into the door of the merchant industry. They've taken over (their niche) of the consumer world, and with so many other POS software companies turning Ipads into POS systems it only makes sense that Apple start to make purpose built hardware for that industry. At least, it makes sense to me. Go broad/go Shallow is more like dust the farm with one plane instead of tending to it acre by acre. They're setting themselves up for success. They've done it before.