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Apple Pay's Uncopyable Business Model

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In this presentation we show how Apple designed an uncopyable business model around Apple Pay that delivers what nobody else could.

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Apple Pay's Uncopyable Business Model

  1. Apple Pay: Part 2 How Apple Pay’s Uncopyable Business Model Delivers What Nobody Else Could C O D I F I E D N EWS
  2. After more than a month since it was announced, last Monday (October 20, 2014) Apple launched…
  3. Pay
  4. It addresses some serious consumer pains…
  5. …and might even eventually replace the wallet.
  6. Apple Pay: An Obvious Value Proposition Completely private transactions NFC Antenna Touch ID Purchase Goods Carrying cash, cards, and wallets Theft & Fraud Credit/debit card tokenization Fingerprint ID Dynamic transaction security codes Photo ID required Cards don’t read properly Credit/debit cards are insecure Losing your wallet, cards, and cash Protect Finances Never carry a wallet, cards, or cash again Fast checkout at retail stores Never have to cancel a card ever again Suspend payments on device Transaction data is kept private Shop anywhere One tap checkout 220K merchants and growing Store and manage cards digitally Passbook App Find My iPhone By better understanding consumers, Apple designed a better value proposition!
  7. But they didn’t just design a better value proposition, they designed a better business model!
  8. Though the value proposition is obvious… …the business model is a bit less understood.
  9. “Most people that have worked on this have started by focusing on creating a business model that was centered on their self-interest instead of focusing on the user experience.” – Tim Cook
  10. Other solutions seek to collect consumer data and save on swipe fees by cutting out the banks altogether!
  11. So how is Apple building an uncopyable business model that delivers what nobody else could?
  12. Comple NFC Touch Purcha Carryin Theft & Fingerp Credit/ Dynami Photo Cards Credit/ Losing Protect Never Fast Never Suspen Transac Shop One tap 220K Store Passbo Find My Apple Pay Seamle iPhone - Zoom With a better value proposition in place… …we can zoom out to the business model level…
  13. Apple Pay Seamless, Secure Mobile Payments iPhone 6 & Apple Watch Owners ? ? Passbook Apple Pay System ? ? ? …to understand the value Apple is creating for its business. Touch ID iTunes Users w/ Stored Credit Cards
  14. 220K Merchants (McDonalds, Walgreens) Apple Pay Seamless, Secure Mobile Payments iPhone 6 & Apple Watch Owners Issuing Banks (Chase, BofA, Citi Bank) Passbook Apple Pay System Touch ID iTunes Users w/ Stored Credit Cards Apple delivers to consumers through 200+ Banks and 220K Merchants 220K Merchants (McDonalds, Walgreens)
  15. 220K Merchants (McDonalds, Walgreens) Apple Pay Seamless, Secure Mobile Payments iPhone 6 & Apple Watch Owners Issuing Banks (Chase, BofA, Citi Bank) Free - $0 Passbook Apple Pay System Touch ID iTunes Users w/ Stored Credit Cards Apple collects nothing from the consumer 220K Merchants (McDonalds, Walgreens)
  16. Apple Pay Seamless, Secure Mobile Payments 220K Merchants (McDonalds, Walgreens) iPhone 6 & Apple Watch Owners Merchants Access to Issuing Banks (Chase, BofA, Citi Bank) Free - $0 Mobile Customers Passbook Apple Pay System Touch ID Merchants (McDonalds, Walgreens) iTunes Users w/ Stored Credit Cards Merchants want access to the growing mobile payments market
  17. Apple Pay Seamless, Secure Mobile Payments 220K Merchants (McDonalds, Walgreens) iPhone 6 & Apple Watch Owners Merchants Access to Issuing Banks (Chase, BofA, Citi Bank) Free - $0 Mobile Customers Passbook Apple Pay System Touch ID Merchants (McDonalds, Walgreens) iTunes Users w/ Stored Credit Cards Merchants pay nothing to Apple for this access Free - $0
  18. Apple Pay Seamless, Secure Mobile Payments 220K Merchants (McDonalds, Walgreens) iPhone 6 & Apple Watch Owners Merchants Access to Issuing Banks (Chase, BofA, Citi Bank) Free - $0 Mobile Customers Process Payments Passbook Apple Pay System Touch ID Card Networks (AMEX, Visa, MasterCard) Merchants (McDonalds, Walgreens) iTunes Users w/ Stored Credit Cards Issuing Banks (Chase, BofA, Citi Bank) Apple allows transactions to be processed… Card Networks (AMEX, Visa, MasterCard) Issuing Banks (Chase, BofA, Citi Bank) …and delivered in the traditional manner. Free - $0
  19. Issuing Banks (Chase, BofA, Citi Bank) Apple Pay Seamless, Secure Mobile Payments Merchants (McDonalds, Walgreens) iPhone 6 & Apple Watch Owners Issuing banks want tighter Issuing Banks (Chase, BofA, Citi Bank) fraud protection Cards Card Networks Free - $0 Merchants (220,000+) Free - $0 Access to Mobile Customers Secure Mobile Transactions Process Payments Passbook Apple Pay System Touch ID Card Networks (AMEX, Visa, MasterCard) Issuing Banks (Chase, BofA, Citi Bank) Merchants (McDonalds, Walgreens) iTunes Users w/ Stored Credit (AMEX, Visa, MasterCard) Issuing Banks (Chase, BofA, Citi Bank)
  20. Issuing Banks (Chase, BofA, Citi Bank) Apple Pay Seamless, Secure Mobile Payments Merchants (McDonalds, Walgreens) iPhone 6 & Apple Watch Owners Issuing Banks (Chase, BofA, Citi Bank) Cards Card Networks Free - $0 Merchants (220,000+) Card Networks (AMEX, Visa, MasterCard) Free - $0 Access to Mobile Customers Secure Mobile Transactions Process Payments Passbook Apple Pay System Touch ID Card Networks (AMEX, Visa, MasterCard) Issuing Banks (Chase, BofA, Citi Bank) Merchants (McDonalds, Walgreens) iTunes Users w/ Stored Credit (AMEX, Visa, MasterCard) Issuing Banks (Chase, BofA, Citi Bank) Card Networks (AMEX, Visa, MasterCard) Card Networks introduced industry standards for implementing Apple’s dynamic security codes
  21. Issuing Banks (Chase, BofA, Citi Bank) Apple Pay Seamless, Secure Mobile Payments Merchants (McDonalds, Walgreens) iPhone 6 & Apple Watch Owners Issuing Banks (Chase, BofA, Citi Bank) Cards Card Networks Free - $0 Merchants (220,000+) Card Networks (AMEX, Visa, MasterCard) The Issuing Banks are willing to pay the fee to reduce fraud costs Free - $0 Access to Mobile Customers Secure Mobile Transactions Process Payments Passbook Apple Pay System Touch ID Card Networks (AMEX, Visa, MasterCard) Issuing Banks (Chase, BofA, Citi Bank) Merchants (McDonalds, Walgreens) iTunes Users w/ Stored Credit (AMEX, Visa, MasterCard) Issuing Banks (Chase, BofA, Citi Bank) Card Networks (AMEX, Visa, MasterCard) 0.15 - 0.25% Fee Per Transaction
  22. Apple enables the payments ecosystem with its technology instead of trying to bypass it!
  23. Pay “Mobilizes” the entire payments ecosystem getting merchants, banks, and card networks to cooperate in a way only Apple can.
  24. Author: Benson Garner Content Direction: Alexander Osterwalder Design: Federico Galindo Art Direction: Alan Smith Additional Input: Alan Smith C O D I F I E D N EWS
  25. B Y C O D I F I E D N EWS

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