Apple Pay: Payments is a Tough Space, You Know

via John Gruber. Drew Sandholm, CNBC:

“Payments is a tough ecosystem and you know, other players, other major consumer Internet companies have tried to enter in the space and have found, you know, limited success,” said Bill Ready, CEO of Braintree, the parent company of mobile payment services providers PayPal and Venmo. “And a big part of that is it is a very difficult space.”

Apple announced many Apple Pay retail partners including Macy’s, Bloomingdale’s, McDonald’s, Panera Bread, Target, Walgreens, Whole Foods Market, Starbucks, etc.

“It’s quite noteworthy that, you know, you had many of the largest retailers, most of the largest retailers, including Wal-Mart and Best Buy and others not part of the announcement,” he said.

Apple Pay will fail, because it didn’t get everyone. Damn.