11–20 of 736 posts
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
Earlier quoted context omitted.
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.
This is about the merchant using an iPhone to accept credit cards and other Tap to Pay devices.
The customer was able to pay with Tap to Pay with their iPhone for a while now.
Earlier quoted context omitted.
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.
Earlier quoted context omitted.
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.
I don't think tap to pay can be skimmed in the same way you can with swiping. You'd have to actually clone the data on the NFC chip, which isn't possible through a tap from what I understand.
From a quick google: https://ieeexplore.ieee.org/document/9220841
I do also remember reading about researchers at Cambridge University who were looking at this maybe 7-8 years ago.
- Stripe as the first user of the SDK vs Square: For any small business starting this spring, I can't think of a reason why they wouldn't use and iPhone+Stripe to start off. Zero hardware cost (assuming they have an iPhone), no need to wait for hardware delivery.
- NFC will be coming to the iPad.
- The ability to keep the same hardware but switch payment network lowers switching cost for small businesses. Payment platforms will have to differentiate on ecosystem as well as cost.