Re: It's all about the screen size
Unlike Google, Apple isn't attempting to displace Visa or Mastercard. Apple's system works analogously to something like OAuth: your existing Visa or Mastercard account vends a token that is stored in the phone. That token is communicated to the shop. The shop charges your Visa or Mastercard, via your normal bank.
I think Apple's probably going to be able to drag quite a few shops along through its marketing muscle. It'll be of the same benefit to the rest of us as its previous efforts in bringing unmetered billing via AT&T.
Biting the hand that feeds IT
