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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

#441

Post by davnicwil »

monkeynotes wrote: post #412
anonymouse008 wrote: post #393

Earlier quoted context omitted.

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

I am surprised Apple didn't make this a closed system and compete with Square for small businesses.

Think it depends on the lens you view this with.

If it's iphones have reached saturation with small business owners, let's build a business on top of that already dug and locked in moat, then perhaps.

If it's offering this feature is a driver for more small business owners buying and sticking with iphones and the accompanying ecosystem, you can see how it's perhaps the smarter play to be an open platform here.

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

#442

Post by tiffanyh »

KoftaBob wrote: post #439
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.

If "bps" is supposed to stand for basis points, then you're saying they get a 0.15% cut?

Correct.

https://www.pymnts.com/in-depth/2015/apple-pays-business-mod...

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

#443

Post by throwaway44432 »

steadyready wrote: post #405

Man, I swear sometimes I feel like I’m on a forum full of wanted criminals, state actors, and/or felons. I’m not saying I’m against privacy. I am all for not being tracked, but we are approaching absurdity. I really want to see all of you who praise “privacy” go fully offline and use only cash. No cards. No bank account. Nothing. Salary? Cash, because earnings could also be sold and used for advertising. Groceries? C…

https://news.ycombinator.com/item?id=30260987

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

#444

Post by woobar »

hackmiester wrote: post #297
irrational wrote: post #57

Earlier quoted context omitted.

The US has contactless payment with a chip on the card too, but this is different.

How? I was under the impression this tech was the same. Just like our cards’ chips are compatible.

It is different in way that same technology now let you use your phone to accept payment via tap. Not just to pay.

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

#445

Post by [deleted] »

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…

[deleted]

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

#446

Post by btown »

davnicwil wrote: post #441
monkeynotes wrote: post #412

Earlier quoted context omitted.

I am surprised Apple didn't make this a closed system and compete with Square for small businesses.

Think it depends on the lens you view this with. If it's iphones have reached saturation with small business owners, let's build a business on top of that already dug and locked in moat, then perhaps. If it's offering this feature is a driver for more small business owners buying and sticking with iphones and the accompanying ecosystem, you can see how it's perhaps the smarter play to be an open platform here.

Right - the last thing Apple wants is to let Google take the high ground of "only our platform makes this business-critical API available to multiple apps, therefore if you're a small business owner you need to choose Android."

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

#447

Post by lotsofpulp »

BenjiWiebe wrote: post #436
rootusrootus wrote: post #311

Earlier quoted context omitted.

> laws allow for sub-standard wages, such as restaurant wait staff The law does not allow for sub-standard wages, however. If everyone stopped tipping today, wait staff would get the same minimum wage as any other job.

No, actually the law allows for below-minimum hourly wages for tipped jobs. That's the whole issue...

Employers are obliged to ensure that employees they are paying below minimum wage because the employee gets tips get paid at least minimum wage including tips.

If an employee lets their employer know they did not earn enough tips to meet minimum wage, then the employer must pay them more to ensure they get minimum wage.

Also, in many jurisdictions of the US where the same minimum wage applies to traditionally tipped employees, the tipping dynamic has remained. For example in California, Oregon, and Washington, the cultural expectation is that customers will still tip waiters, even though the waiters are earning the same minimum wage as everyone else.

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

#448

Post by sn1de »

monkeynotes wrote: post #412
anonymouse008 wrote: post #393

Earlier quoted context omitted.

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

I am surprised Apple didn't make this a closed system and compete with Square for small businesses.

It competes with anyone selling point of sale hardware. I think Square falls into that camp, no? I wouldn't want to be in that space right now. I don't see how this doesn't usurp a big chunk of their market since it isn't even a decision between buy this or buy that, but buy that or just use the thing already in my pocket.

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

#449

Post by seanmcdirmid »

techsupporter wrote: post #435
seanmcdirmid wrote: post #262

Earlier quoted context omitted.

A lot of POS's support contactless payments, but they were kind of flaky for the first two years, and...oddly slow. Fred Meyers here in WA still doesn't support contactless payments (QFC, owned by the same company, does, however), annoying since I still have to shop there often.

> Fred Meyers here in WA still doesn't support contactless payments (QFC, owned by the same company, does, however) Some Freddy's do, at least intermittently. A few weeks ago, the one in Lake City had it enabled on their pads at the self checkout and I successfully used tap. But when I went back a week after that, tap was turned back off. Kroger uses their smaller brands as testbeds for stuff and since QFC is somewhe…

In the Seattle area, Fred Myer is the only place I can’t use NFC payments, for the last 3 or 4 years. Target has them, though sometimes their COVID plastic on the terminals interferes with it.

It’s annoying I have to carry a credit card, driver license (WA doesn’t support digital licenses yet), and an Orca card (also, annoyingly not phone compatible yet) in the wallet MagSafe attachment for my phone.

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

#450

Post by mercutio2 »

dathinab wrote: post #372
profmonocle wrote: post #209

Earlier quoted context omitted.

Something I was thinking about the other day is how some modern credit cards technically have four different ways to pay. Swiping pressure-sensitive paper over the raised numbers (the original method) is still possible, though I haven't seen a merchant actually do this since maybe the mid-2000's. Then you have magstripe, chip, and RFID all in the same card. Pretty impressive backwards compatibility, although I think…

> is still possible Wait what? I think in many parts of the world that isn't possible anymore for a long long time. Like all of EU.

Europe had dramatically more credit card fraud than the US, so Europe mandated EMV decades before the US.

It will be many years before US merchants truly phase out accepting magnetic strips.

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