PayPal going after Apple with a full page NYT ad shows just how big Apple Pay will be
“We the people want our money safer than our selfies. PayPal, protecting the people economy.”
This is a sign of a company that is afraid of just how successful Apple Pay is going to be and how deeply it will cut into its core business. Apple Pay is the first mobile-phone payments solution that has a shot at the mainstream.
Paypal is known for bad security (especially its crappy two factor authentication), withholding money from its customers and generally being bad at doing payments.
Paypal is not “for the people” - I can tell you that first hand. I use the service because I essentially am forced to due to lack of other options to bill my writing clients. I don’t want to use it and they’ve previously held my money hostage and left me out of pocket.
Nobody will miss it when something better comes along and Paypal is showing just how vulnerable it is to disruption right now. Payments companies reacting so bitterly to Apple Pay only means one thing: they’re afraid of how popular it’ll be.
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