Apple Pay

What Cratered The Apple Pay/PayPal Deal?

Fortune magazine reported that the reason PayPal was left out in the cold on 9/9 when Apple Pay was launched was all because of Samsung. They report that before PayPal made a deal with Samsung, there were talks with Apple during the early stages of development of Apple Pay to make PayPal the “preferred payment process” for its payment network. They go on to say that while these conversations were happening, eBay CEO John Donahoe, pushed the partnership with Samsung.

When Apple found out about the deal, they were furious, furious enough to cause Apple to cut PayPal out of the Apple Pay process entirely. Since former PayPal President David Marcus is said to have opposed the Samsung deal because he thought it would threaten the relationship with Apple, and if this report is true, it did, he then left and went to Facebook.

Since the launch of the Samsung Galaxy S5’s fingerprint scanner, the reviews have been mixed. Worth noting is that Apple’s iPhone 6 and 6 Plus sold 11 million+ units within the first 3 days of being on the market, while it took Samsung an entire month to sell 11 million units when first released.

The beat goes on.

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New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.

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