Apple announces Apple Card credit card • Hacker News Board

Re: Apple announces Apple Card credit card

#91

Post by runako » Mon, Mar 25, 2019, 6:01 PM UTC

bk_mtn_man wrote: post #63

nabaraz wrote: post #25

With the rise of smartphone payments like Samsung Pay, Android Pay and Apple Pay , is there even a need for credit cards? How long until these companies start skipping payment processors like Visa and Mastercard and take the whole pie?

I don't live in a tech hub city but in all my shopping I have never seen anyone use one of the Apple/Samsung payment methods where I live. Even when I spent months in Silicon Valley I can count the number of times I saw it used on one hand.

Here in the Southeast of the US, the adoption of Apple Pay (and I presume Samsung Pay) has definitely been increasing.

Square/Clover/all the POS's used by coffeeshops and other small businesses have been taking Apple Pay for a few years now. But recently CVS started taking it, and CVS is everywhere (~6,200 stores in the US). Whole Foods is on Apple Pay. I understand Target will be following soon.

It's still not 100% penetration, but it definitely feels like the adoption expands every time a shop upgrades its POS.

Re: Apple announces Apple Card credit card

#92

Post by intopieces » Mon, Mar 25, 2019, 6:01 PM UTC

danesparza wrote: post #30

I wish they had a debit card. I would love a debit card with all these features.

Why do you prefer a debit card over a credit card?

Re: Apple announces Apple Card credit card

#93

Post by bit_logic » Mon, Mar 25, 2019, 6:01 PM UTC

Does Apple Pay and Google Pay work anywhere I see the tap symbol (looks like a rotated wifi symbol)? Or they must also display the Apple or Google Pay symbol? I've seen places that just have the tap symbol and wondered if I could've used my phone.

Re: Apple announces Apple Card credit card

#94

Post by ocdtrekkie » Mon, Mar 25, 2019, 6:02 PM UTC

joefife wrote: post #80

ocdtrekkie wrote: post #67

Most interesting claim is that there are no late fees. If you don't pay it on time, I presume they're going to stop letting you continue making charges to the card until you do? But that it never gets you locked into the debt cycle of so many other cards? If true, this is the true real innovation. Or is there interest, but just no fee for not making your payment on time?

How is that an innovation? You're describing Charge Cards

I've... actually never heard of these. Why isn't this more popular?

Re: Apple announces Apple Card credit card

#95

Post by [deleted] » Mon, Mar 25, 2019, 6:02 PM UTC

ocdtrekkie wrote: post #67

Most interesting claim is that there are no late fees. If you don't pay it on time, I presume they're going to stop letting you continue making charges to the card until you do? But that it never gets you locked into the debt cycle of so many other cards? If true, this is the true real innovation. Or is there interest, but just no fee for not making your payment on time?

[deleted]

Re: Apple announces Apple Card credit card

#96

Post by weego » Mon, Mar 25, 2019, 6:02 PM UTC

nabaraz wrote: post #25

With the rise of smartphone payments like Samsung Pay, Android Pay and Apple Pay , is there even a need for credit cards? How long until these companies start skipping payment processors like Visa and Mastercard and take the whole pie?

I've never owned a credit card but I've used my debit card directly twice since Christmas because GPay is available everywhere. It's only the ceiling on contactless transactions (£30) that requires me to use it

Re: Apple announces Apple Card credit card

#97

Post by tedivm » Mon, Mar 25, 2019, 6:02 PM UTC

joefife wrote: post #80

ocdtrekkie wrote: post #67

Most interesting claim is that there are no late fees. If you don't pay it on time, I presume they're going to stop letting you continue making charges to the card until you do? But that it never gets you locked into the debt cycle of so many other cards? If true, this is the true real innovation. Or is there interest, but just no fee for not making your payment on time?

How is that an innovation? You're describing Charge Cards

Charge cards are not what's being described here. If you have an Amex "charge card" (not one of their credit cards) you do have to pay late fees if you miss a payment.

Charge cards generally force you to pay them off each month (again, an Amex charge card expects you to clear out the balance for each cycle). This is a credit card, which means you can carry a balance.

Re: Apple announces Apple Card credit card

#98

Post by jak92 » Mon, Mar 25, 2019, 6:02 PM UTC

siculars wrote: post #34

ckastner wrote: post #4

> get a digital card that they can use anywhere Apple Pay Apply Pay users: how broad is Apply Pay adoption? Is this a viable replacement for a VISA, Mastercard or AMEX? I'm intrigued by the privacy angle to this, seeing as VISA and Mastercard apparently share and/or sell a lot of transaction data with/to third parties. Edit: The article has been updated: As rumored, Apple is partnering with Goldman Sachs for Apple Ca…

I use Apple pay wherever possible. It is far quicker and more convenient than either cash, chip card or swipe in that order. Besides convenience, security and privacy are the backstop for my usage. I just trust Apple more to not be sleezy with my transaction history.

> I just trust Apple more to not be sleezy with my transaction history.

For now. They are all still collecting and storing all the data. The only solution is lack of data collection to begin with.

Re: Apple announces Apple Card credit card

#99

Post by petepete » Mon, Mar 25, 2019, 6:03 PM UTC

bit_logic wrote: post #93

Does Apple Pay and Google Pay work anywhere I see the tap symbol (looks like a rotated wifi symbol)? Or they must also display the Apple or Google Pay symbol? I've seen places that just have the tap symbol and wondered if I could've used my phone.

It works anywhere where there's a tap symbol, in the UK at least.

Re: Apple announces Apple Card credit card

#100

Post by jak92 » Mon, Mar 25, 2019, 6:03 PM UTC

spectramax wrote: post #66

siculars wrote: post #34

Earlier quoted context omitted.

I use Apple pay wherever possible. It is far quicker and more convenient than either cash, chip card or swipe in that order. Besides convenience, security and privacy are the backstop for my usage. I just trust Apple more to not be sleezy with my transaction history.

With the new Apple Card, somewhere in the presentation Apple had "Goldman Sachs will never sell your data to third parties" but what about the MasterCard backend? Surely, they'll see exact transactions and store information?

doesn't say GS won't mine the data themselves for marketing.