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Is Apple Pay A Success?
June 13, 2016 by admin
Filed under Around The Net
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Over a year ago after Apple Pay took the United States by storm, the smartphone giant has made only tiny ripple in the global payments market, hindered by technical challenges, low consumer take-up and resistance from banks.
The service is available in six countries and among a limited range of banks, though in recent weeks Apple has added four banks to its sole Singapore partner American Express; Australia and New Zealand Banking Group in Australia; and Canada’s five big banks.
Apple Pay usage totaled $10.9 billion last year, the vast majority of that in the United States. That is less than the annual volume of transactions in Kenya, a mobile payments pioneer, according to research firm Timetric.
And its global turnover is a drop in the bucket in China, where Internet giants Alibaba and Tencent dominate the world’s biggest mobile payments market – with an estimated $1 trillion worth of mobile transactions last year, according to iResearch data.
Anecdotal evidence from Britain, China and Australia suggests Apple Pay is popular with core Apple followers, but the quality of service, and interest in it, varies significantly.
To use Apple Pay, consumers tap their iPhone over payment terminals to buy coffee, train tickets and other services. It can be also used at vending machines that accept contactless payments.
Apple Pay transactions were a fraction of the $84.5 billion in iPhone sales for the six months to March, which accounted for two-thirds of Apple’s total revenue.
Apple has leveraged its huge U.S. user base to push Pay, but has met resistance in Australia, Britain and Canada where banks are building their own products.
“Payments in general is such a complicated system with so many incumbent providers that revolutionary change like this was not going to happen very quickly,” said Joshua Gilbert, an analyst at First Annapolis Consulting.
The upshot: Apple has rolled out Pay in a dribble, adding countries and partners where it can – Hong Kong is expected to be added next – resulting in an uneven banking landscape with users and retail staff not always sure what will work and how.
Source- http://www.thegurureview.net/mobile-category/apple-pay-struggling-to-gain-traction-outside-u-s.html
Are Cyber Criminals Hard To Catch?
Despite 100,000 cyber crimes being committed every year UK authorities only caught 12 hackers.
In fact on average just one person was convicted of an offence under the Computer Misuse Act every month for the past 23 years.
We assume that it was not the same bloke, because he would be the most luckless criminal ever.
Campaigners from the Digital Trust, which supports victims of online abuse, said police do not know how to cope with the problem.
Need more laws
Criminal justice expert Harry Fletcher, who is a director of the Digital Trust, said: “The police still concentrate their resources on traditional offences offline, but most people are more likely to be mugged online than in the street.
“The law needs to change. It should, for example, be an offence to use any technological device to locate, listen to or watch a person without legitimate purpose.
“In addition, restrictions should be placed on the sale of spyware without lawful reasons. It should also be against the law to install a webcam or any other form or surveillance device without the target’s knowledge.”
Of course just creating new laws is not going to mean that more hackers will be caught, it will just mean that there are more crimes which they could be arrested for.
The conviction rate against hackers are not bad, if the coppers do arrest someone. Between 1990 to 2006 only 183 defendants were proceeded against and 134 found guilty under the Computer Misuse Act.
Unfortunately the Trust did not see, to realize that a lot of the hacks against companies and individuals come from overseas, particularly Russian or China. Changing laws in the UK would not change anything.