If you lose your phone, or are subject to a breach, you can keep your existing card.
Cue: And because card isn't stored on the phone, you don't have to cancel it if phone is lost
Cue: Now talking up privacy. Apple doesn't know what you bought, where you bought it, or how much you paid for it. Cashier doesn't see name, credit card number, or security code
Cue is making it very, very clear that Apple isn't tracking or monitoring any of your shopping history. I don't think you can say that about Google Wallet and other services.
Cue: Apple Pay. It's fast, it's secure, and it's private
Cue: Amex, Mastercard and Visa in the US. 6 biggest banks in the US plus a few more (Bank of America, etc). 83% of all banks
Sorry, Diner's Club members ;(
Basically, if a retailer accepts tap to pay methods now, you should be able to use Apple Pay immediately.
Cue: Can use in 220,000 US merchant locations that already take mobile payments. But Apple worked with other retailers. Macy's, Walgreens, Duane Reade, Staples, Subway, McDonald's. McDonald's is even adding Apple Pay to its drive through
Apple Pay at McDonald's drive-through? Who wants to join me for a large vanilla milkshake later?
Whole Food is also on that list. So are Apple retail stores (of course)
Apple shares are now up 3 percent at $101.26.
Cue: And Disney, the happiest place on Earth. Adding to all Disney stores and Disney World in time for Christmas. That's just some of the many retailers adding Apple Pay in all of their lcoations
Big applause for Whole Foods. I wonder how many people in this room ate organic, artisanal pumkin-seed granola for breakfast this morning?
Cue: What about online? There's over a billion dollars a day spent on online transactions. Process is really cumbersome
Cue: With Apple Pay, there's one touch checkout. No need to enter card number, address, and no credit card info is shared with the merchant.
Cue: We've been working with some great retailers like Target to enable some great products in their Apple. I don't know about you, but I'm looking for some Beats headphones (Cue was key in that $3B acquisition)
Cue is basically just iterating retailers now. I wonder if they had to pay for promotional placement here.
Cue: Groupon is incorporating Apple Pay in its app. Uber has a new feature. Panera lets you order food and have it ready right away. MLB can order tickets. Apple Stores. And Open Table - at participating restauratns will be able to use Apple Pay in Open Table app to pay for your check
Interesting, paying your check through Apple Pay for an OpenTable reservation? That sure beats waiting for your server to finally bring your receipt back.
Cue: That's just some of the many apps incorporating Apple Pay. iOS 8 will have an API for this so more apps can come out.
Cue: Launches in US next month.
Eddy Cue is stepping off, and Tim Cook is back up now.