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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

#531

Post by thetinguy »

pimterry wrote: post #119
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.

This risk also applies to any card terminal where you pay contactlessly. In Europe, that effectively means every card terminal everywhere and a comfortable majority of card transactions ( https://www.mastercard.com/news/europe/en-uk/newsroom/press-... says 75% of mastercard transactions in Europe are contactless). The main protections against this are maximum limits for unverified contactless purchases (about €50, de…

AFAIK there are no contactless limits in the US. Also usually no pins on credit cards in the US only debit cards.

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

#532

Post by aryamaan »

dzhiurgis wrote: post #487
msoad wrote: post #258

Earlier quoted context omitted.

Not all iOS devices have NFC. This is an iPhone-only feature

MacBooks strangely doesn't have NFC - IMO it's ultimate solution for U2F.

I would love to pay websites by tapping my phone to my laptop.

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

#533

Post by ghayes »

mlyle wrote: post #214
pilsetnieks wrote: post #207

Earlier quoted context omitted.

> Apple already gets 15 bps for all Apple Pay transactions Bits per second? Beets per sale? Blackened pieces-of-eight per scurvy-rat?

Basis points-- hundredths of a percent. so 0.15%.

I always remember "100 basis points = 1%". It's a little confusing since percentages are scalars, so really 1 bps is just the scalar 1/10000.

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

#535

Post by L3viathan »

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?

I don't really understand your point, neither do I understand the change:

Maestro and V-PAY already _are_ owned by those two companies, and are debit cards. What changes with Mastercard/Visa debit?

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

#536

Post by tantalor »

jedberg wrote: post #401
tantalor wrote: post #283

Earlier quoted context omitted.

That's literally the job of the clerk, not you.

As someone who lives in a society, I'd say it's both the store and the customer's job to make sure the right people get paid.

The clerk is the store. Your obligation ends when the clerk has the money.

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

#537

Post by digisign »

throwaway894345 wrote: post #505
digisign wrote: post #399

Earlier quoted context omitted.

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.

> In civilized countries they have direct bank to bank transfers I'm sure whatever country you're from (or otherwise alluding to) is a fine place, no need for the transparent insecurity. :) Narrowly, I agree that secure (and fee-less) bank-to-bank transfers would be preferable to CC. > They are required for the CC transaction, this adds an additional player that should not be necessary. We're positing a situation whe…

>> CC's aren't available

A misstatement by me, still they are extra to what should be a bank to bank matter.

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

#538

Post by ska »

wyager wrote: post #287
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…

Payment digitization is inevitable. The benefits outweighs the costs for 95% of people. The realistic options are payment through dystopian surveillance apparatus payment processors, or payment through bitcoin lightning (or similar).

It's hard to imagine a plausible path to payment digitization without states asserting a) currency controls and b) some degree of visibility on transactions. I think on the latter they'll take a "well if anyone can see it, we should be able to " and "KYC is needed" etc. stance. The only way to avoid anyone seeing it will defeat (a) an not be acceptable to them. This would relegate to same status as any other black market, with better/broader tech.

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

#539

Post by jedberg »

tantalor wrote: post #536
jedberg wrote: post #401

Earlier quoted context omitted.

As someone who lives in a society, I'd say it's both the store and the customer's job to make sure the right people get paid.

The clerk is the store. Your obligation ends when the clerk has the money.

But how do you know the clerk works for the store? You don’t feel at all obligated to make sure they are actually the store?

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

#540

Post by jacquesm »

L3viathan wrote: post #535
jacquesm wrote: post #483

Earlier quoted context omitted.

> 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?

I don't really understand your point, neither do I understand the change: Maestro and V-PAY already _are_ owned by those two companies, and are debit cards. What changes with Mastercard/Visa debit?

That it erodes the position of EU banks in favor of Visa and Mastercard. I have no problem with them facilitating the tech, but I do have a problem with them usurping the position of the banks. The EU is already too dependent on the United States in this manner, no need to make it worse.
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