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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

#571

Post by pwinnski »

gleenn wrote: post #391
vxNsr wrote: post #364

Earlier quoted context omitted.

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.

It can use a rotating number, I think, but when I tap my watch, any receipt with shows me the last four digits still shows me the same last four digits. Apple rotates the CVV, but not the card number so much.

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

#572

Post by sebzim4500 »

pedalpete wrote: post #562
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.

This was my initial thinking, but then I think most businesses won't want to use a phone as their payment platform. My reasoning is that when I go into a business and I tap the Square terminal, I am assuming that terminal belongs to the business, because what individual would have their own square terminal. If the person who is ringing me up has an iPhone, and says "just tap this", there is a part of me that is wonde…

Are you concerned about a malicious employee using their own iphone to steal the money? Why couldn't they give you their own square terminal? On that note, when you pay cash why can't they just pocket whatever you give them?

I don't see why you care anyway, they would be stealing from the store, not from you. You would already have whatever item you are buying.

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

#573

Post by joshstrange »

tonightstoast wrote: post #40
axg11 wrote: post #20

Three interesting implications from this press release: - Stripe as the first user of the SDK vs Square: For any small business starting this spring, I can't think of a reason why they wouldn't use and iPhone+Stripe to start off. Zero hardware cost (assuming they have an iPhone), no need to wait for hardware delivery. - NFC will be coming to the iPad. - The ability to keep the same hardware but switch payment network…

Stripe’s fees are pretty high though so that is certainly one reason small businesses may avoid it. Sounds like Apple is adding more processors soon though so it will be interesting to see how the space places out.

I imagine this is going to built on top of the existing Apple Pay infrastructure which means any payment provider that works with Apple Pay will probably (eventually) work with this. There are a good number of places that work with Apple Pay.

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

#574

Post by joshstrange »

snotrockets wrote: post #460
tonightstoast wrote: post #40

Earlier quoted context omitted.

Stripe’s fees are pretty high though so that is certainly one reason small businesses may avoid it. Sounds like Apple is adding more processors soon though so it will be interesting to see how the space places out.

A small business is low volume, hence going to have a hard time getting good rates. And they're also constrainted on resources, so the extra effort to get a few points off may cost more than those points (as written above – they're low volume. The cash value for a bp is much lower for them than for a high volume business)

No doubt, you can get ~2% processing and no flat fee even with low volume but what you get isn't as polished as Stripe and takes some more development work to integrate/use.

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

#576

Post by barkerja »

aetherspawn wrote: post #575

This is such a big deal because for small merchants, these terminals are generally really expensive and take high cuts. Now small cafes, tradies, etc getting on their feet can use the hardware they already have to start processing straight away.

Does the use of a terminal tack on more fees in addition to the fees the processor already takes?

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

#577

Post by joshstrange »

duxup wrote: post #26

Kinda weird. If a rando retail person pulls out their iPhone and asks me to tap... that's kinda strange in my mind. Something about "how do I know that isn't their personal phone?" would pop in my head. But things that seem awkward can become commonplace.

I have to say this is the worst scam someone could consider pulling. Payment processors (of which you will need one to use this) do KYC and it wouldn't take long at all to get caught and tracked back to whoever is doing it.

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

#578

Post by tinus_hn »

steadyready wrote: post #545
tinus_hn wrote: post #452

Earlier quoted context omitted.

How do you go from ‘Apple is offering a new payment method’ to a rant about how you don’t care about privacy? Why would people have to choose between using only cash and sharing their data with everyone? The normal thing to do is limit who can access the data as much as possible. And if people don’t do that, why would legislators care?

> "How do you go from ‘Apple is offering a new payment method’ to a rant about how you don’t care about privacy?" Because some other people started ranting about cashless payments, payment processors and their privacy. > "Why would people have to choose between using only cash and sharing their data with everyone?" Because that's how other people put it. I was just raising the point that we shouldn't have to give up…

Apart from your comment and its replies there’s only one other conversation containing the word ‘privacy’ and its about how people want to be able to use cash so the credit card company can’t see all of your purchases. Doesn’t sound too unreasonable to me (nor does that appear to me to be limiting you in any way) and I don’t quite understand why you didn’t reply to them instead of posting an apparently ‘opposite’ rant.

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

#579

Post by tl »

Angostura wrote: post #548
TheKarateKid wrote: post #524

Earlier quoted context omitted.

They're playing the long game. Apple wants market usage to build bargaining power with the banks. They saw how the original Google Wallet was blocked from adoption because of control by the carriers and banks. Remember ISIS Mobile Wallet? (That name aged terribly..) We saw how it took 10+ years and a dominating market position for Apple to show their claws with controlling 3rd parties with the App Store. Make no doub…

> We saw how it took 10+ years and a dominating market position for Apple to show their claws with controlling 3rd parties with the App Store. M Really? I thought Apple's position was fairly consistent and it took 10+ years for the companies using the App Store to get antsy.

That's a fairly revisionist view of history. Large partners had earlier had special pricing (ex: Netflix) lax enforcement of rules (ex: Facebook). Blowups where Apple presumed the right to levy a fee are also well known (Amazon book sales, Uber fares).

The smaller fish got consistently screwed and no one was happy per se, but the sheer stupidity of Apple's recent actions do not help matters. For example, the app store cut is 30% unless you beg for scraps as a small business at which point you can get 15% until you start making $1 million. Income cliffs aren't how real taxes work (let's be clear here: Apple is pretending to be the government with taxes and fees and shadow court system of app review), they're just how Reagan demonized them back in the day.

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

#580

Post by peoplefromibiza »

pelorat wrote: post #493
peoplefromibiza wrote: post #251

Earlier quoted context omitted.

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

As an Italian I can't disagree, cabs not accepting credit cards infuriate me evrytime, but there's also a strong cultural resistance to change here.

Also friction plays a part, Italy is the second oldest country in the World on average.

My mom uses electronic payments, but I haven't been able to teach her how to pay online or "tap to pay" no matter how hard I tried.

I won't even start to talk about my dad, who doesn't even own a smartphone or a mobile phone before the smart ones existed.

They prefer to go to the ATM and pay cash, their lifestyle is very far from globalized even though they are strongly against tax evasion and always ask for their receipt.

Ironically I've know about Telepass because my parents have been using it for as long as I can remember.

My guess is that they trust Telepass because it's backed by a (former) public institution, Autostrade, but they don't trust mobile phone manufacturers or payment processor companies as much.

I'm not sure they are completely wrong.

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