[palmer]

If Apple is taking a big cut then their system deserves to die. I presumed they were not and trying to get more people onto the iPhone. But I could be wrong

To my thinking chip level security is pretty damn difficult to overcome when it get's cracked which it will. I don't like NFC one damn bit.

As for NFC, it is supposed to be insecure. It can be eavesdropped, it can be jammed, but it should not be susceptible to man in the middle. Of course the client could be flawed and get fooled into accepting invalid server credentials, but that is fixable. In short, there is no chip level security, no link level security, only application level security and that can be fixed if it is flawed.

[ImJustAnotherOkie]

Just to sell phones? Must be something Hillary said.

You will never get me to believe Apple isn’t getting a piece of the action.

[Swordmaker]

If Apple is taking a big cut then their system deserves to die. I presumed they were not and trying to get more people onto the iPhone. But I could be wrong.

These merchants are being totally stupid. They are cutting off business from millions of Pay users and it won't cost them anything because the fees that Apple get comes from the credit card companies and the banks. Here is what Apple has to say on their FAQ page on Pay:

"How much does it cost to accept Apple Pay?

Apple does not charge users, merchants or developers to use Apple Pay for payments. Your credit and debit transactions will continue to be handled by the payment networks.

The banks and credit card companies are quite happy to pay Apple's nominal fees because of the reduction in fraud they will see because it is impossible to steal a credit card number or to steal a card from Pay users or for merchants to keep the Pay and charge the number again later, nor can the Pay user claim they did not make the transaction. The same cannot be said for standard NFC cards.