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Columnist Neil Irwin has a piece in the New York Times this morning about Apple's new mobile payment system, called Apple Pay, that is designed to replace credit cards.

The question being considered is whether the problem Apple is trying to solve - having to pull out a credit or debit card to make a purchase - is nearly as onerous as it suggests it is. And Irwin suggests that banks and retailers, which have to bear the costs of data breaches, may end up being a lot more enthusiastic about Apple Pay than consumers.

It is an interesting piece, and worth reading here.
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