Visa, Mastercard Beat the Street

The transcript discusses the use of Apple Pay on iPhones, focusing on its adoption and the role of credit card companies like MasterCard and Visa in mobile payments. It highlights the challenges faced by consumers and companies in using Apple Pay, noting that some issues are due to company-specific problems rather than Apple's. The discussion also touches on the requirement of an iPhone 6 for using Apple Pay with the new operating system.

What was the initial focus of the discussion regarding Apple Pay?

• The use of Apple Pay on older iPhones

• The security features of Apple Pay

• The global expansion of Apple Pay

• The marketing strategies of Apple Pay

How do credit card companies like MasterCard and Visa benefit from Apple Pay?

• They own a stake in Apple Pay

• They have arrangements that enhance their mobile payment capabilities

• They receive a commission on every transaction

• They control the Apple Pay infrastructure

What is a major challenge users face with Apple Pay?

• Limited availability in stores

• High transaction fees

• Difficulty in making successful purchases

• Lack of compatible devices

Which company was mentioned as being involved in the rollout of Apple Pay?

• Chase Bank

• Wells Fargo

• Bank of America

• Citibank

What is required to use Apple Pay with the new operating system?

• An iPhone 5

• An iPhone 6

• An iPhone 7

• An iPhone 8