this post was submitted on 05 Sep 2024
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Opening up the chip is great, but there needs to be a standard way to consolidate them all into one app/interface. Much like how HomeKit brings everything into one place, the Wallet (or some updated API based variant) needs to remain the central place, so we don't end up getting littered with vendor specific apps for different payment systems.
Nope. We are in for companies like Walmart pushing their own wallet, their own app. Sadly.
They have been gearing up for this for a few years now. They bought the online bank One Financial and have been overhauling and building it into a big FinTech play.
Yep :(
The only reason Apple had gotten traction with it is because they focused all of their users’ purchase power in one unified place. Which became a powerful driver to drive for change. Samsung/Android/Google Pay/Wallet thing never gained traction despite having access to the chip is exactly what we’ll see if the chip just get opened up free for all. All the larger players will push for their own standard, demand for the coveted hardware invocation sequence, while no one else wants to adopt theirs, and ultimately get no where while littering our phone with useless apps.
¯\_(ツ)_/¯
You realise that in the UK and a lot of other countries people mainly pay by contactless and while you can do that with just your bank card, many link it to Google/Apple pay in their phone? The Amex UK app used to offer their own implementation as well for contactless payment, but they also supported Google pay/wallet so eventually decided to drop their Amex app implementation of contactless payments and just told people to use Google pay. Don't equate them not gaining traction in your country with that being the case in general, especially if you're from the US, where banking technology seems to be 15-20 years behind a lot of the time.