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Not sure if the author is being intentionally misleading, or if he really doesn't understand the state of mobile payments today. My guess would be the first ba

Not sure if the author is being intentionally misleading, or if he really doesn't understand the state of mobile payments today. My guess would be the first based on the rest of the article. Take this: "If an Australian company writes an app that allows a purchase to be made — and paid for, via the app — it’s more likely than not that Apple or Google will appear, asking for a big slice of that sale." ... "All of this is fine if you’re buying an album from iTunes, but what if you’re buying a sofa from IKEA?" The above clearly implies that Apple / Google are going to charge merchants their 30% app sale cut on a couch, but that's ridiculous. Ikea can implement Apple Pay directly in their app and pay a 0% cut to Apple today, without requiring users to enter their CC details. Heck, you can even build that in to a website, you don't even need an app. I assume Google's mobile payment stuff has similar features, if not they'll catch up.

x0x0 9y ago
Also, what is the value in a world of (nearly) ubiquitous bank accounts, debit cards, and credit cards? While unbanked people exist, to use your example, I'm guessing 99.99999% penetration of banks amongst the people that buy ikea couches.
ChuckMcM 9y ago
> The above clearly implies that Apple / Google are > going to charge merchants their 30% app sale cut > on a couch, but that's ridiculous. I'm fairly sure that if either Apple or Google thought they could get away with a 30% cut on a couch bought at IKEA they would absolutely implement that "feature." Both companies continue to make moves to avoid being disintermediated from cash streams. Nobody wants to be the wire, everyone wants to be the service.
- gcb0 9y ago
  well that's exactly what the kenyan phone agent takes: 27% this article is a ridiculous eulogy to late stage capitalism. No banks because privacy laws make it too expensive? just start a bank but call it a mobile company and you can operate your bank without any regards for affordable fees and transaction privacy!

x0x0 9y ago

Also, what is the value in a world of (nearly) ubiquitous bank accounts, debit cards, and credit cards? While unbanked people exist, to use your example, I'm guessing 99.99999% penetration of banks amongst the people that buy ikea couches.

ChuckMcM 9y ago

> The above clearly implies that Apple / Google are > going to charge merchants their 30% app sale cut > on a couch, but that's ridiculous. I'm fairly sure that if either Apple or Google thought they could get away with a 30% cut on a couch bought at IKEA they would absolutely implement that "feature." Both companies continue to make moves to avoid being disintermediated from cash streams. Nobody wants to be the wire, everyone wants to be the service.

gcb0 9y ago
well that's exactly what the kenyan phone agent takes: 27% this article is a ridiculous eulogy to late stage capitalism. No banks because privacy laws make it too expensive? just start a bank but call it a mobile company and you can operate your bank without any regards for affordable fees and transaction privacy!