{"id":54944,"date":"2023-10-20T16:29:26","date_gmt":"2023-10-20T16:29:26","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/stripe-ripe-for-apple-pay-boom-startupsmart\/"},"modified":"2023-10-20T16:29:26","modified_gmt":"2023-10-20T16:29:26","slug":"stripe-ripe-for-apple-pay-boom-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/stripe-ripe-for-apple-pay-boom-startupsmart\/","title":{"rendered":"Stripe ripe for Apple Pay boom &#8211; StartupSmart"},"content":{"rendered":"<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"445\" height=\"352\" itemprop=\"image\" class=\"entry-thumb\" src=\"\/wp-content\/uploads\/2015\/07\/l_applepay_445.jpg\" alt=\"\" title=\"l_applepay_445\"\/><\/div>\n<p>Australia is on track to become Stripe\u2019s third biggest market, and co-founder John Collison says online sales will rocket with Apple Pay\u2019s imminent arrival in the country . <\/p>\n<p>\u00a0<\/p>\n<p>Speaking at <a href=\"http:\/\/www.meetup.com\/Lean-Startup-Melbourne\/\" target=\"_blank\" rel=\"noopener\">Lean Startup Melbourne<\/a> on Tuesday night, Collison said the global payments platform has seen huge growth since launching in Australia just over a year ago.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cIt turns out Australians like to buy a lot of things online,\u201d Collison says.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cAustralia is now our fourth largest market, and it\u2019s on its way to being our third largest.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cIt\u2019s been cool to watch. We\u2019ve been working with a bunch of established internet companies here, and a whole bunch of folks just getting off the ground.\u201d<\/p>\n<p>\u00a0<\/p>\n<p><a href=\"http:\/\/www.smh.com.au\/business\/apple-pay-a-step-closer-as-mastercards-tokenisation-security-feature-nears-20150727-gildfu.html\" target=\"_blank\" rel=\"noopener\">With MasterCard announcing<\/a> they\u2019re on the verge of implementing a new security feature that will open the door for Apple Pay, Collison expects online sales in Australia to expand massively.<\/p>\n<p>\u00a0<\/p>\n<p>Apple Pay is a mobile wallet allowing users to make transactions in stores and online through iOS software in a similar vein to tap-and-go transactions like PayWave.<\/p>\n<p>\u00a0<\/p>\n<p>However, with Apple Pay tokenisation replaces traditional credit card information using a randomly generated one-use number for each online transaction.<\/p>\n<p>\u00a0<\/p>\n<p>This makes the service safer if a number is breached. Apple is already using the service in the US and UK.<\/p>\n<p>\u00a0<\/p>\n<p><a href=\"http:\/\/www.rfintelligence.com\/_blog\/RFi_Media_Centre\/post\/technology-makes-customers-more-loyal\/\" target=\"_blank\" rel=\"noopener\">According to the RFi Group<\/a>, contactless payments accounted for more than 60% of all VISA transactions, with 75 million PayWave transactions <a href=\"http:\/\/www.rfintelligence.com\/_blog\/RFi_Media_Centre\/post\/mobile-phones-set-to-overtake-credit-cards-for-payments\/\" target=\"_blank\" rel=\"noopener\">in January alone<\/a>.<\/p>\n<p>\u00a0<\/p>\n<p>Apple Pay\u2019s arrival in Australia is long overdue, Collison says, and could revolutionise startups in the country.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cApple Pay is magical. It\u2019s so, so good,\u201d he said.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cBuying anything online on a mobile device sucks. People do a lot of browsing on mobile, but then they stop there, they don\u2019t buy or subscribe because entering all those details is a pain in the neck.\u201d<\/p>\n<p>\u00a0<\/p>\n<p><a href=\"technology\/10-areas-of-financial-services-in-dire-need-of-innovation\/2015071615120.html\"><i>READ MORE: \u2018Apple Pay is an absolute disaster\u2019 \u2013 ANZ CTO<\/i><\/a><\/p>\n<p>\u00a0<\/p>\n<p>\u201cIf you are building a mobile marketplace or an ecommerce app, you can now get consumers over that hump, you can get them to buy from you with a tap of the Apple Pay button.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Stripe has a partnership with Apple, and all businesses built on Stripe are automatically integrated with Apple Pay.<\/p>\n<p>\u00a0<\/p>\n<p>Collision said the ease of online transactions that Apple Pay facilitates could lead to a whole new breed of startups.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cIf you shift how people can actually pay for stuff, you can shift what\u2019s possible to build,\u201d he said.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cAs we look five years down the line we expect new kinds of businesses to be possible when buying something on mobile is this easy.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThink about news for example. On the street someone will sell you a newspaper for $2, but online they won\u2019t do that because it\u2019s too much work to go through for $2, so they only sell you subscriptions,\u201d Collision said.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cOnce it\u2019s really easy to pay for something, you can maybe have a service when you\u2019re buying one article at a time or a day\u2019s access at a time.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>The possibility of this new category of startups in Australia is very exciting, Collison said.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cWe\u2019re in a way not that interested in the businesses that have started in the last five years, we\u2019re way more interested in the businesses that\u2019ll be starting in the next ten years,\u201d he said.<\/p>\n<p>\u00a0<\/p>\n<p><i>Raising your <\/i><a href=\"startupschool\/events\/hacking-your-first-investment-round\/\"><i>first round of capital<\/i><\/a><i>? Starting a <\/i><a href=\"startupschool\/events\/secrets-of-successful-crowdfunding\/\"><i>crowdfunding campaign<\/i><\/a><i>? Want to grow your business <\/i><a href=\"startupschool\/events\/how-to-use-instagram-to-grow-your-business\/\"><i>with Instagram?<\/i><\/a><i> <\/i><i>StartupSmart School can help.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australia is on track to become Stripe\u2019s third biggest market, and co-founder John Collison says online sales will rocket with<\/p>\n","protected":false},"author":1,"featured_media":58167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,8,9,23,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/54944"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=54944"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/54944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58167"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=54944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=54944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=54944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}