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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

#491

Post by pelorat »

jurmous wrote: post #111
throwaway894345 wrote: post #81

Earlier quoted context omitted.

I studied abroad in France in 2012--at this time, all European card readers had been chip-based for quite a while and my US credit card didn't have one. I couldn't figure out how to use them and many store clerks had no idea what to do with my magnetic-strip credit card. I went to England in 2019, at which point cards in the US had been updated to use magnetic stripes, and everyone was using tap-to-pay. It turns out…

We in The Netherlands are one of the most cashless societies in Europe. We mostly pay with our mobiles or contactless with banking cards. We even are "going Dutch" sharing our bills with what we call a Tikkie: One person pays the bill and then we send over instant messaging our payment request for money which can be payed directly with one click and authentication in banking app. One thing that is annoying for foreig…

Hopefully we can get rid of our OV cards soon. Annoys me a lot that I have to take it out of my wallet every time.

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

#492

Post by [deleted] »

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.

[deleted]

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

#493

Post by pelorat »

peoplefromibiza wrote: post #251
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…

In Italy RFID payments have been a thing since 1989 Unfortunately this is one of those cases where being among early adopters wasn't an advantage, in many areas of Italy cash is still the only viable payment method. https://en.m.wikipedia.org/wiki/Telepass

> in many areas of Italy cash is still the only viable payment method.

cough tax avoidance cough

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

#494

Post by CraigRood »

avianlyric wrote: post #124
djrogers wrote: post #43

Earlier quoted context omitted.

It’d be trivial for a rogue payment app to display one $ amount on the screen yet deduct another.

Sure but that's something card networks already deal with via chargebacks. If merchants get caught doing that, they'll have their payment processor, the processors acquirer and Mastercard/Visa all over them like a bad rash. You can guarantee that the merchants collateral, or any unpaid funds will be taken and used to automatically refund anyone that went near their readers, and if the money can't be claimed from the…

Exactly, there's nothing really new here except the device being used. Risk to skimming with a phone is no different than a 3G enabled terminal. Ultimately you need a business account and legal agreements with a merchant - so in this case Stripe to start work and accepting payments.

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

#497

Post by desiarnezjr »

siver_john wrote: post #488
sn1de wrote: post #448

Earlier quoted context omitted.

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.

Anyone who is going to be buying PoS from Square at a rate greater than just the phone attachment reader, this won't be sufficient for. Using a phone for a business you personally run is fine, using a phone as the central point of your business for even a relatively small fast casual is going to be a nightmare. And for those even on Square Apple's ipads are still the preferred choice as far as I can tell. So there is…

POS and payment hardware used to be a fairly high margin vertical hardware business, but I don't think so any longer. The real goal now is merchant / customer acquisition and service lock in. Basically I'd expect the hardware will be given away at some point.

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

#498

Post by jurmous »

jacquesm wrote: post #483
jurmous wrote: post #284

Earlier quoted context omitted.

Most shops in the Netherlands work with maestro of mastercard and vpay of Visa. It is directly linked to our bank credit and has low transaction fees. Maestro and vpay is accepted all over the world. We work directly with IBAN numbers and not with credit card types like mostly in the world. Normal Mastercard/visa credit don’t work here since shops have to pay way higher transaction fees while almost nobody uses them.…

> It will be phased out though in 2023 to Mastercard debit and visa debit That sounds like an absolutely terrible idea. Why would we give these two rotten-to-the-core companies such power over our payment systems?

It sounds it will work the same as maestro but be usable in places where you need credit card numbers. https://www.mastercard.com/news/europe/en/perspectives/en/20...

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

#500

Post by batuhanicoz »

can16358p wrote: post #316
bayindirh wrote: post #154

Earlier quoted context omitted.

In Turkey you can move around almost cashless now. Taxis started to accept cards in droves due to the pandemic and some municipalities are integrating VISA/Master infra to the mass transport, so you can just travel with your card. Besides that, literally everywhere allows contactless payments. Even Visa/Master is changing their card designs to move vital information to the back of the card to prevent information thef…

If only our banks also supported Apple Pay...

That's probably a BDDK (regulatory body for banks) issue.

Good thing is you can actually use Apple Pay, I use my Watch to pay for stuff all the time.

You have to have a foreign bank account that supports it, I use Wise since it allows Turkish customers.

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