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The real Apple flop: Do you know what it is?
How quickly we all forget. A new dawn, a new day, a new life -- well, never mine. Apple promised to change the face of payments with Apple Pay. And I had been betting the Apple Watch would flop. But the numbers suggest that consumers just don't mind using their credit cards the old-fashioned way. Once more, the tekkies provide a solution to a problem that doesn't exist.
Drum roll, please, for the data on Apple Pay via Bank Innovation:
In a recent post from PYMNTS.com, retail data analytics firm InfoScout is reporting Apple Pay usage has been on a steady decline since a seemingly promising upswing in March 2015. In the three months that followed, usage fell two points from 15.1 to 13.1 percent. What’s more, of the nearly 40 percent of consumers surveyed in March who said they had used Apple Pay to complete a transaction, only 23 percent still said “yes.”
Frankly, we think consumers would be much more excited if banks and retailers could thwart hackers more effectively.