That’ll slow up the instant payment scheme!
That said, I haven’t been excited by using my mobile phone for NFC contact payments. How hard is it to pull a card out of my wallet?
And that’s why I will never use it. Pull my phone out of the slot in my handbag or the debit card I keep in the slot right next to it.
You are right about that. That is one reason why mobile payment adoption hasn't yet taken off. But it will, and soon (next 18-24 months), because of security issues inherent in cards.
Payment security breaches can't really be addressed until the cards go away, even with EMV (chip & pin) technology. That will take time. But it is inevitable.
“...How hard is it to pull a card out of my wallet?”
*****************************************************************************************************
It’s not difficult at all. But the prime reason (there are many others) I like Apple Pay is for its security aspects. With Apple Pay, the merchant (and the clerk and the merchant’s databases) NEVER sees or gets your card/bank information. So if I buy something from Target and Target later has a data breach, I will NOT be one of the customers whose bank card and ID data is lost to the data thieves.
How hard is it to steal your card number? That is not possible with ApplePay.