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Apple unveils contactless payments via Tap to Pay on iPhone

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

#391

Post by gleenn »

vxNsr wrote: post #364
scrollaway wrote: post #346

Earlier quoted context omitted.

Cards are slowly moving towards not having printed numbers at all, and having the numbers only available via the issuer's app or website. This allows for rotating numbers.

Care to share some examples? I’ve never seen this in the US

The Apple credit card only shows the number if you reveal it in Apple Wallet app. Their card, technically run by Goldman Sachs, is all white with no numbers. Not sire how to verify but I've heard if you use it with Apple Pay I think it doesn't use that number, but a rotating one.

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

#392

Post by RulerOf »

hackmiester wrote: post #294
throwaway894345 wrote: post #260

Earlier quoted context omitted.

> I've only just gotten used to the slide-it-in-the-slot kind. I always called this "chip". My UK friends called it "chip-and-pin" in 2012. But yeah, no idea what the technical or widely-accepted colloquial terms are. > Not knowing for sure is why I never try, and just stick the card in the slot Yeah, for some reason the UX for contactless is terrible. Sometimes something will show four evenly-spaced green lights (an…

The easier flow is to bring up the card while you’re next in line, then tap it to the reader when it’s time to pay.

You can often scan your phone/card much sooner than when you're presented with your total. I tap my watch at the grocery store as soon as I'm finished loading up the belt.

Whenever "your transaction" begins at the register could be when you're eligible to present your payment to the terminal.

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

#393

Post by anonymouse008 »

sabjut wrote: post #14

Clarification due to a somewhat confusing title: 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.

The real news is Apple specifically took a non competitive stance — making the API available to third parties like Stripe - rather than building in house, leveraging Apple Card connections, or similar

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

#395

Post by dathinab »

dash2 wrote: post #337
Medowar wrote: post #188

Earlier quoted context omitted.

..just dont go to Germany. We are not very advanced in that regard. Of course huge amounts of stores offer contactless paying, but generally Cash is still dominant around here. Change is slow, and currently, Cash is still king, especially with small or street merchants.

I always found that so weird! The Exportweltmeister, producing some of the most advanced equipment... and in many places you can't pay with a card at all . Why do you think it is?

Machinery needs to be lubricated to run well.

For many small businesses non-tax registered money is the lub which makes them run well.

Jokes aside the price of getting a card terminal where for many businesses completely unattractive for a long time and often still are if put in context to the number of people which will use it.

I know one local takeaway which stopped accepting card payment after their terminal broke recently, as it wasn't worth it to buy a new one. Instead they now allow sending money by PayPal, but non-advertised and mainly for a single specific big recurring customer and sometimes if someone doesn't has cash with them.

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

#396

Post by snotrockets »

manquer wrote: post #308
Hakashiro wrote: post #285

Earlier quoted context omitted.

And Apple Pay is much harder to trace (except for Apple and your bank I guess?) than just using a plastic static card. I can't count the amount of times I've lost or been robbed physical bills. Never once have money siphoned out of my online bank. I don't use cash anymore, I'm all digital, and still use a VPN to watch porn. Turns out different people have different threat models. My threat model includes my neighbour…

Threat model should include banks , credit scores and spending patterns of credit cards is the foundation of credit worthiness in this country . For example, your credit score is penalized if your have high utilization on your card doesn’t matter if you never default on a payment, Low credit score results in low limits in turn keeps utilization high. Bank knowing I defaulted on a card as a risk parameter is one thing…

Those are highly regulated, regarding which data they can or can not use, and that regulation is (surprisingly?) very consumer friendly. There's more of a risk of a CRA getting hacked and their collected data being sold

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

#397

Post by HWR_14 »

baxtr wrote: post #366
melling wrote: post #23

Earlier quoted context omitted.

The long slow road to contactless payments. Almost 2 decades along in the technology adoption curve. I was ready for this in 2005. https://money.howstuffworks.com/personal-finance/debt-manage... If course as the article points out, it wasn’t even new technology back then: “ Not Exactly New Tech Mobile introduced the Speedpass in 1997. Speedpass is a small device on a keychain (called a fob) that users wave in front o…

I worked in the mobile industry back in 2010s. Every carrier had big shiny projects called "mobile payments" going on. They were exploring, together with banking partners how they could revolutionize contactless payments. A key factor why all these project failed wasn't the technology. As you rightly point out, the technology was already available back then. It was mainly the vast differences in business models in th…

Given transaction volumes, I imagine Apple will make more money from Apple Pay than the App Store soon, even with an order of magnitude smaller rake.

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

#399

Post by digisign »

throwaway894345 wrote: post #373
digisign wrote: post #325

Earlier quoted context omitted.

A potentially malicious third-party selling your financial transaction history is not the best choice... by far.

I wasn't arguing in favor of Venmo, but are VISA and MasterCard really better options in this regard?

They are required for the CC transaction, this adds an additional player that should not be necessary. In civilized countries they have direct bank to bank transfers.

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

#400

Post by SOLAR_FIELDS »

ritwikr wrote: post #60
SOLAR_FIELDS wrote: post #29

Earlier quoted context omitted.

Presumably companies like Square and Clover are selling their own POS hardware and probably are less than happy that every iPad and iPhone running latest OS with NFC is now a competitor to their hardware. Stripe does not make hardware (as far as I’m aware) so this initial partnership makes sense.

Stripe does have a physical terminal too ( https://stripe.com/terminal ) but I've never seen it at a merchant.

Huh, I did not know that, I’ve also never seen one out in the wild.
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