PayPal Intrigued By Apple, Publishes An Ad Pointing Towards Apple’s Vulnerabilities
Apple recently announced its Pay service that will let people carry out mobile transactions using NFC and Touch ID. As soon as it was announced, people started arguments about whether it will be able to kill eBay’s successful mobile transaction service – PayPal – or not.
One thing that Apple has proved plenty of times is its ability to reinvent the products innovated by other companies and still be successful in generating huge number of sales. They did it with MP3 player, then with smartphones, tablets, and now with smartwatches. Apart from products, they have now started to apply the same strategy to the services.
What I understand from the way Apple launches new products and services is that they first observe what other companies are up to. Then they do the same thing that other companies are doing but in a better way, thanks to the great team of developers and designers they have in their offices.
Or maybe they are still following Steve Jobs’ words: “Good artists copy, great artists steal”
Whatever the case, now they have their eyes on the mobile payments domain with their Pay service and the current leading service provider in this domain Paypal seems intrigued by it.
PayPal is aware of the successes Apple has seen in almost everything they have done so far. Commenting on Apple Pay, PayPal Sr. Director of Communication Rob Skinner said:
“Nobody can dispute Apple’s strong track record, but payments is a difficult area. It’s much more difficult to do payments than to keep a live stream working!”
Live stream? He said it in reference to Apple’s efforts in streaming its keynote to a huge worldwide audience.
But this statement wasn’t enough to publicly declare a war against Apple. PayPal recently published a full-page ad in New York Times’ Sept 15 issue. The ad reads:
We the people want our money safer than our selfies.
This was in reference to the news about leakage of private celebrity photos from iCloud. The news raised security concerns over Apple’s services. However, Apple declined to admit that their servers were ever breached and was investigating the issue.
Slow down PayPal! As if PayPal has got no vulnerabilities. A 17-year old boy showed a loophole in PayPal’s two-factor authentication security system that could be used to hack user accounts. Also since they are now a part of eBay, we can point fingers towards eBay as their network has been breached too.
Now as the game of mobile-payments-throne has started, we can expect a reply from Apple soon, because when you play the game of mobile-payments-throne, you either make millions or you die.