Apple unveils contactless payments via Tap to Pay on iPhone

I'm so pleased to see this happen in a way where its not tied to Apples own payment processor. They could so easily have done that to capture more revenue but I suspect it would have opened up more chance of an anticompetitive lawsuit.

Obviously they are going to vet which processors are allowed, but as a consumer you want that so you can be confident that the iPhone you are tapping your card against isn't skimming your account.

I suspect there is a revenue agreement with the processors allowed on.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#5

Post by no_wizard » Tue, Feb 08, 2022, 3:25 PM UTC

Grustaf wrote: post #2

Quoted post unavailable.

Perhaps I’m missing context here what do you mean by this one? Is there something about Stripe in this instance that’s “mob” like?

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#6

Post by [deleted] » Tue, Feb 08, 2022, 3:25 PM UTC

Grustaf wrote: post #2

Quoted post unavailable.

[deleted]

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#7

Post by exhilaration » Tue, Feb 08, 2022, 3:27 PM UTC

no_wizard wrote: post #5

Grustaf wrote: post #2

Quoted post unavailable.

Perhaps I’m missing context here what do you mean by this one? Is there something about Stripe in this instance that’s “mob” like?

He's (jokingly) referring to these complaints of favoritism by the CEO of a Stripe competitor: https://news.ycombinator.com/item?id=30066969

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#8

Post by jb1991 » Tue, Feb 08, 2022, 3:27 PM UTC

samwillis wrote: post #4

I'm so pleased to see this happen in a way where its not tied to Apples own payment processor. They could so easily have done that to capture more revenue but I suspect it would have opened up more chance of an anticompetitive lawsuit. Obviously they are going to vet which processors are allowed, but as a consumer you want that so you can be confident that the iPhone you are tapping your card against isn't skimming y…

*allowed

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#9

Post by thebean11 » Tue, Feb 08, 2022, 3:27 PM UTC

samwillis wrote: post #4

I'm so pleased to see this happen in a way where its not tied to Apples own payment processor. They could so easily have done that to capture more revenue but I suspect it would have opened up more chance of an anticompetitive lawsuit. Obviously they are going to vet which processors are allowed, but as a consumer you want that so you can be confident that the iPhone you are tapping your card against isn't skimming y…

Protection against account skimming should happen on the customer's iPhone (it should only send data allowing a single transaction of a certain size) not the merchant's iPhone. If the customer's iPhone doesn't have that protection it's pretty easy for the merchant to hide a skimmer in their iPhone case / POS system / gas pump.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#10

Post by samwillis » Tue, Feb 08, 2022, 3:28 PM UTC

thebean11 wrote: post #9

samwillis wrote: post #4

I'm so pleased to see this happen in a way where its not tied to Apples own payment processor. They could so easily have done that to capture more revenue but I suspect it would have opened up more chance of an anticompetitive lawsuit. Obviously they are going to vet which processors are allowed, but as a consumer you want that so you can be confident that the iPhone you are tapping your card against isn't skimming y…

Protection against account skimming should happen on the customer's iPhone (it should only send data allowing a single transaction of a certain size) not the merchant's iPhone. If the customer's iPhone doesn't have that protection it's pretty easy for the merchant to hide a skimmer in their iPhone case / POS system / gas pump.

It looks like it's not just Apple Pay, it's excepts any card payment, the protection has to be on the merchant's iPhone.