No one should be afraid of Apple Pay. Certain doom voices were heard when Paypal started and now we all see that retailers only benefited. I expect Apple Pay to focus initially on Apple clients` base and further on to diversify its target focus and expand. Additionally other providers are seriously researching the Internet payments as an additional value added feature for its existing customers and a potential to attract new ones.
Apple Pay gives retailers a safe, quick and convenient way of paying. It is as safe as when one swipes one's credit card at a cash register when making a purchase at any retail stores. With Apple Pay, one no longer need to worry about not having enough cash or carrying a credit card.
No, I don't think retailers should be afraid of Apple Pay. I think it will help them get more sales since now people can just pay from home. Nobody wants to go out of their way to have to go to the store and buy something when they can just pay for it on their phone, so retailers should love Apple Pay.
While some retailers report fear over credit card transaction fees increasing with deals signed with Apple, the push to get credit card transaction fees lowered as been a losing battle anyhow. There have been no indications prior to Apple Pay that the credit card companies were going to give in to merchant requests to lower the fees. The reduced need for security compliance that will come along with Apple Pay could be worth current credit card transaction fees in a reduction in security audit fines.