What We're Reading

When EBAY was blow torched this week after AAPL unveiled Apple Pay at their investor event on September 7th, I saw the knee-jerk fear that Apple Pay would take down PayPal as one to raise an eyebrow, however considering the possible number of iphone6 and Apple watch sales (because it won't be available on current Apple products) versus worldwide usage of PayPal, this would not something that would immediately destroy the EBAY name.  On Wednesday I jumped in on EBAY calls (cheap at that point) feeling the reaction was over done.

Booyah!  Was I glad today that I did.  Dumb luck is definitely better than no luck at all.

Not only are other market participants now beginning to question the depth of impact from Apple Pay (again only available on the new iPhone6 or Apple Watch), but it's overall security in a day and age of endless hackers when it comes to one's digital wallet replacing their plastic card and cash.

Then today the news hit when EBAY announced they are set to launch an

Forgetting your wallet at home may no longer be a problem when picking up prescriptions or incidentals, as the nation’s biggest drugstore chain Walgreens and other major retailers partner with Apple and its new mobile payment system. Apple’s new mobile payment system — Apple Pay — could certainly make life for consumers much easier. But the move also makes the iPhone a virtually indispensable — and invaluable –piece of property that will be even more vulnerable to security risks if lost, stolen or hacked.

Walgreens, Target, Staples, McDonald’s, Sephora, Starbucks, and Groupon are among the 12 retailers to accept Apple Pay in October. The system was unveiled Sept. 9 along with the latest iPhone and the highly anticipated Apple Watch.

Apple Pay will allow consumers to pay for items using near field communication, a wireless technology that transmits payment information from the mobile device to a store’s checkout system. The SIM card in the mobile phone, which stores users’ personal in