How Will Apple Pay Affect Peers In Mobile Payments Space?

Following the unveiling of Apple Inc.'s AAPL new Apple Pay program, Pacific Crest analyst Josh Beck issued a note detailing how this might affect others in the mobile payment space.

Beck noted Apple has partnered with the major networks -- Visa Inc V, Mastercard Inc and American Express Company -- the eight top credit issuers and more than 200,000 merchants. He believes these broad partnerships along with "tightly integrated" security scheme set Apple Pay up for success where other have faltered.

In terms of the major networks, Beck believes Visa is best positioned to benefit from the Apple partnership. He said this is reinforced both by Apple's use of Visa cards in its demonstrations and Visa's announcement of a new "innovative" token service, as well as CyberSource and Authorize.net integration.

On the flip side, Beck sees Apple's greater-than-anticipated ambition in eCommerce as potential threat to eBay's PayPal, as sentiment surrounding its longer-term opportunities may be hurt.