Apple unveils contactless payments via Tap to Pay on iPhone

Post by Rafert » Tue, Feb 08, 2022, 5:23 PM UTC

exikyut wrote: post #220

tiffanyh wrote: post #86

This is the outcome of Apple's 2020 acquisition of Mobeewave. https://www.pymnts.com/apple/2020/apple-buys-mobeewave-for-1... It essentially turns an iOS device into a POS system. Apple already gets 15 bps for all Apple Pay transactions. I'm curious to hear the additional monetization Apple plans to get for this.

I was wondering how this was done. How on earth was what amounted to a userspace app able to talk to the NFC hardware to the extent necessary to process payments?! Presumably the app received the relevant entitlements to be able to do this...? How on earth was it done securely, within the Mobeewave app?

Post by TAKEMYMONEY » Tue, Feb 08, 2022, 5:24 PM UTC

riskable wrote: post #185

ucha wrote: post #167

EDIT: thanks everyone for quickly correcting my mistake, I missed the part that explained that more forms of contactless payments would be accepted I don't really understand why a merchant would use this feature. If you already use a PoS, why would you replace it with another one that only supports customers who own an Apple device? If you accepted only cash, maybe it's a small improvement because you can use your ex…

Sure would be nice if Apple and Google got together to accept each other's systems. Or even better: If there was a standard that let any device send money with any other device (using compatible hardware). Imagine if there was a regulation that required interoperability. Or if the banks were forced to allow (authenticated) payments between systems without transaction fees. We're 20 years overdue for this.

Post by curiousllama » Tue, Feb 08, 2022, 5:26 PM UTC

0xy wrote: post #257

This is a clear shot across the bow of Dorsey's empire. Given Square's huge portion of their revenue coming from readers, things have to be looking bleak over there. Square is down 61% since October.

Post by user3939382 » Tue, Feb 08, 2022, 5:26 PM UTC

throwaway22032 wrote: post #224

Hacker News is such a bizarre place. On the one hand, we have threads about how browsers are fingerprintable and some app is using telemetry and endless discussions on theoretical zero-knowledge protocols and the importance of cryptography and Snowden saying this and that that get voted up to the top. On the other hand, something like this comes up which is basically another step along the "no-one accepts cash" funne…

Post by tsycho » Tue, Feb 08, 2022, 5:26 PM UTC