Great read from my buddy @jpomie on "Apple Pay, Cash and Business Chat".https://medium.com/@jpomie/apple-pay-cash-business-chat-some-further-thoughts-51e39522115a?source=linkShare-419aec3df4a3-1497216346 …
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Replying to @patphelan @jpomie
confused - surely you still need Stripe or equivalent to accept payment through Apple Pay? As a business, you can't just link to a bank
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Replying to @benedictevans @patphelan
In business chat, not a requirement as described by
@BrianRoemmele - payment to biz is w/o acquirer. P2B instead of P2P.1 reply 0 retweets 2 likes -
Jeff, thank you. Indeed. There is a roadmap to no acquirer. Put simply, if you can send PtoP for at 0% you can send PtoB at 0%.
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Gracias Brian - just following the path you have lit up and calling attn to some future thoughts. Once cash in P2P or P2B - doesn't matter.
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Replying to @jpomie @BrianRoemmele and
Core function of acquirer is to hold risk on a merchant's transactions when a consumer can dispute after the fact. Who holds w/o acquirer?
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Scott, indeed. I think the way to look at it is as cash. It is the same as a PtoP transaction ultimately. At some point a bank network.
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Replying to @BrianRoemmele @jpomie and
Sure. But the ability of a consumer to dispute a transaction = credit risk vis a vis merchants. Everything flows from that.
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Replying to @scottew @BrianRoemmele and
... to say nothing of stand-in, tokenization, acceptance rules, and the myriad of other things networks do that no one sees. ;-)
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There’s nothing in the docs to suggest Apple thinks merchants accepting Apple Pay no longer need an acquirer.
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Benedict, Once money is in Apple Pay Cash it can be sent to anyone, including a business on Apple Messages. No acquirer is party to this.
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Replying to @BrianRoemmele @benedictevans and
This is roughly the same situation as PayPal, Venmo, and any number of services in which a person holds a cash balance
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Replying to @scottew @benedictevans and
Scott, fully agree. In Apple’s case they will bring deep OS linking (Maps, Messages, Siri) and some loyalty/reward surprises at some point.
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End of conversation
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