So UBS decided to give Apple Pay some attention through Crone. It was a interesting read, however does not take into account a number of perspectives:
- Customer experience counts ... why use something else (mobile) when card works today? Other than it looks sophisticated, savvy and geeky!
- Apple Pay is focused on delivering a great experience through its device. I do not believe at this stage they wish to play as a serious payment provider. Else why have TouchID's open for developers to use.
- Apple Pay is about creating a seamless experience to pay for the consumer... the more EMV+NFC terminals permeate the US market, the chances of transactions using Apple Pay will rise (ONLY for iOS iPhone users). By Oct 2015, if we have 25% of the merchants on an EMV technology that is 12+ years old... that will only bring greater acceptance for Apple Pay
- I lead the initiative for one of the largest issuers/merchants in 2004 (yes 2004) for EMV in Asia!
- Apple Pay did not develop a solution that is targeted at the Android or Kaizen or Windows operating systems.. it does not want to play in the business of servicing every mobile smartphone user; rather focus on iPhones and upcoming iWatch

I agree with Karen, at least this time, that:
- Banks already have spent and developed solutions for embedding their solutions with retailers; why divorce that capability and move to CurrentC
- CurrentC in my fortune ball is likely to fail (Only Debit cards, maybe a good loyalty program, reverse Starbucks QR) and works only when you are with those retailers. So if you need Starbucks.. customers need another application. And if you need Wholefoods, Karen spends more than $ 50 ;-) with a sign... Apple Pay
- MCX and Banks.. I don't see a rationale for partnership!

Two aspects will define our Mobile Payments in 5-10 years; a good integrated Loyalty Program which requires data and a reason for customers to adopt mobile payments vs swiping a card. There will never be one application that customers will use for 'all their mobile phone' purchases and at the same time way too many applications in customers hand will create confusion and drive them back to chip cards.

I'm looking forward to October 2015.. guess why? Issuers want Chip and Sign and Merchants want Chip and PIN.... so if you have two or more issuer cards, welcome to a very disjointed experience where sometimes you have to remember a PiN to transact.
More confusion for customers... might drive usage of Mobile Payments.. Apple Pay for iPhone and Google Wallet (hope they acquire SoftCard or Paypal) and maybe AliPay !!

There is a lot of interesting changes happening in 2015 !! Put on your seat-belts as 2014 was just a prelude ;-)