[msbarnett]

> It also opens some interesting use cases such as micro-payments between individuals. For example, paying a buddy back for your part of lunch or paying someone in-person for a purchase from Craigslist.

Unless Apple plans on opening a bank, the limiting factor here is still that you/your buddy will be taking a haircut on the credit card processing fees.

Apple Pay doesn't replace the card network, and the card networks are NOT interested in being structured to be micropayment friendly.

[jburwell]

Another completely missed opportunity on their part. Apple has the cash and where with all to be a bank. All they would need to do is purchase a community bank somewhere, and bam, they could start cutting out credit card processors. No doubt it would be a lot of work, but when you have $200 billion in the bank and their focus, it becomes quite doable.