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Apple Pay was this week’s most revolutionary product

11
Sep
2014

If you’ve paid any attention at all to the mobile payments space, you’ll know that one of the most notable pieces of news recently is that the consortium of carrier oligarchs trying to create a payment system rebranded from ISIS to Softcard so that it wouldn’t be associated with the militant group. The irony is thick enough to spread with a spatula, but that’s just the frosting on top of the multi-layered shit cake that has comprised the mobile payments industry so far. It has always been a financial cold war between credit card companies, banks, phone companies, and phone manufacturers fighting to divert a tiny rivulet of the humongous river of money that flows through credit cards every day. Which is why, for me, the most revolutionary thing Apple announced yesterday wasn’t a giant iPhone or the Apple Watch, it was Apple Pay.

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