Apple Pay on pace to account for 10% of global card transactions • Hacker News Board

Re: Apple Pay on pace to account for 10% of global card transactions

#361

Post by AdamHede » Wed, Feb 12, 2020, 10:24 AM UTC

In Denmark we've had a public payment card for a couple of decades now (Dankort). It's a no thrills, dump, payment card, but it is universally accepted, has no fees and virtually impossible to get into financial trouble with.

I have to admit, I welcome apple pay with a lot of sceptisism. In my perspective, a lot of innovation in payment over the recent years has been towards better ways of extracting value from basic transactions, or selling confusing products to financially illiterate consumer. With the exception of contactless and mobile payments, which our public solution has picked up as quickly as the commercial vendors.

Re: Apple Pay on pace to account for 10% of global card transactions

#362

Post by benbristow » Wed, Feb 12, 2020, 10:27 AM UTC

Apple Pay is great. Use it all the time as I usually have my phone in my hand, not my wallet.

Banks in the UK (incl. Monzo) have recently added security restrictions on contactless cards which means after they've been used contactless so many times (up to £100 I think) you have to use chip-and-pin to 'reset' the limit or you'll be declined. Monzo are quite good in the fact they give you a notification when you're due to chip-and-pin but it's still annoying.

Apple Pay doesn't have that restriction and is overall more secure with the FaceID/fingerprint security too.

Wonder what the stats are for Google Pay too

Re: Apple Pay on pace to account for 10% of global card transactions

#363

Post by neuronic » Wed, Feb 12, 2020, 10:46 AM UTC

alteria wrote: post #299

zie wrote: post #262

Earlier quoted context omitted.

source: "Apple doesn't retain any transaction information that can be tied back to you—your transactions stay between you, the merchant or developer, and your bank or card issuer."[0] 0: https://support.apple.com/en-us/HT203027

It's worth noting that the merchant, bank, and credit card issuer can and do regularly sell that information off in de-identified form. Card networks especially like monetizing the data since it's very powerful. I can't find the page describing the program on Visa's website, but their privacy opt-out describes it pretty well [1]. [1] https://usa.visa.com/legal/privacy-policy-opt-out.html

Yes but they'd do it every time you use your card anyways. So back to cash only? In the US you're screwed without using credit cards and in Europe I would not want to go back out of convenience.

Carrying 800 grams of coins around me all the time sucks.

Re: Apple Pay on pace to account for 10% of global card transactions

#364

Post by neuronic » Wed, Feb 12, 2020, 10:48 AM UTC

eigenvector wrote: post #133

gregdoesit wrote: post #61

I had dinner with members of the Apple Pay team a year or two back. I asked them, “So, who are your competitors? Google Pay? PayPal?” They laughed. “No, we don’t really track them. We have one main competitor. Credit cards. We care about Apple Pay being better, easier and more convenient to use than any of your credit cards.” And then, finishing dinner, the guy paid with his Apple Watch, using Apple Pay. The waiter w…

If this occurred in the USA, I'm surprised the story doesn't end with the waiter asking this guy to take his Apple Watch off so the waiter can take it to the back where the payment terminal is located. Portable terminals that are brought to the table (so the customer can enter their PIN) still seem to be a rare occurrence in the US.

It's a miracle that you don't pay with checks at restaurants.

Re: Apple Pay on pace to account for 10% of global card transactions

#365

Post by w-m » Wed, Feb 12, 2020, 10:48 AM UTC

nscalf wrote: post #355

Hamuko wrote: post #309

Earlier quoted context omitted.

In Finland pretty much all places support NFC cards and by extension Apple Pay. Yet to come across a place where it didn't work.

I'm on the tail end of backpacking around Europe. This isn't just Finland, it's the entirety of Europe + UK. I was the only one with a chip, explaining to everyone that the US largely doesn't have touch to pay cards.

What countries have you been to? Germany is quite infamous for having many places that still only accept cash. And when I was in France half a year ago, many places had card readers that wouldn't accept contactless payments.

By the way, the UK is still in Europe, even if they have left the EU :)

Re: Apple Pay on pace to account for 10% of global card transactions

#366

Post by neuronic » Wed, Feb 12, 2020, 10:49 AM UTC

ryukafalz wrote: post #118

needusername wrote: post #112

Earlier quoted context omitted.

Sure you can. It's not a special case. That's the beauty of Apple Pay. Industry standard protocol. If the merchant accepts contactless credit cards then Apple Pay will work. No need for any special hardware, any special software or any contract changes.

Typically in the US the waiter will take your credit card back to a payment terminal rather than bringing a card reader to you. Contactless isn’t really an option in that case.

Why would you hand anyone your credit card... to take it somewhere else... and do whatever with it ....

Re: Apple Pay on pace to account for 10% of global card transactions

#367

Post by mvanbaak » Wed, Feb 12, 2020, 10:51 AM UTC

Hamuko wrote: post #309

aggie wrote: post #167

Apple Pay is great, but I wish it was more universally accepted at point of sale. But in the US we're not even at consistency in any form of POS payment method. Disney World (Florida) notably spent a BILLION dollars implementing a wonderful contactless payments++ system called MagicBand. [1] Last week I was shocked that at Disneyland (California), where they haven't implemented MagicBand, they not only don't accept A…

In Finland pretty much all places support NFC cards and by extension Apple Pay. Yet to come across a place where it didn't work.

Try renting a car with sixt. They dont support apple pay nor nfc/contactless payment. It's the only company (besides my local coffeeshop, cant blame them whehe) I found in The Netherlands that is behind.

Re: Apple Pay on pace to account for 10% of global card transactions

#368

Post by jvzr » Wed, Feb 12, 2020, 10:53 AM UTC

jonathanbull wrote: post #94

yalogin wrote: post #77

Earlier quoted context omitted.

You can pay using Apple Pay at restaurants? Has to be a special case right?

I've done this loads of times. Albeit in the UK and Canada, where the card reader is brought to your table.

Just to add that, at least here in France, it is not at all uncommon to stand up and go pay at the terminal on the way out, instead of waiting at the table. They usually have a card reader anyway, but it's a matter of convenience for the restaurant I think.

(Tbf I'm talking about everyday restaurant, not gastronomic experiences)

Re: Apple Pay on pace to account for 10% of global card transactions

#369

Post by Shivetya » Wed, Feb 12, 2020, 11:14 AM UTC

notJim wrote: post #26

I honestly love Apple Pay, but I don't use it super often because it makes me self-conscious. I feel like a bit of a dick for some reason. If you try to do something "weird" and it doesn't work, people get annoyed, or it feels like an imposition. Even when it works, people sometimes make some kind of comment. Relatedly, it's unpredictable whether it will work or not. It usually does, as long as the card machine says…

well it doesn't help that recent updates to iOS have caused Apple Pay to trip up. It used to work flawlessly for me at every machine but now I find myself having to unlock the phone first which I never did before

Re: Apple Pay on pace to account for 10% of global card transactions

#370

Post by diffeomorphism » Wed, Feb 12, 2020, 11:30 AM UTC

adtac wrote: post #152

needusername wrote: post #82

Earlier quoted context omitted.

There is a lot of deliberately confusing marketing. "Tokenization" simply means that a new PAN is generated once per device. This is a normal PAN registered with the payment scheme and your issuer. It has to be a normal PAN, otherwise it would never pass through all the exiting payment infrastructure. What is generated per transaction is the EMV unpredictable number, but this is part of the EMV protocol and done for…

Why do you say it's deliberately confusing?

Because we have a whole thread with dozens of comments full with people that don't understand what this means but seem to think it is a selling point for Apple.