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Stripe and Apple Pay

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Re: Stripe and Apple Pay

#61

Post by sanswork »

lifeisstillgood wrote: post #60
lifeisstillgood wrote: post #30

Obvious question - when can I store my stellar or bitcoin in my apple pay "wallet"? Or have I misunderstood?

Ok downvotes, that wasn't sarcasm, it was genuinely a recognition that Stripe's view on Stellar and the cryptocurrency ecosystem is coming closer - with Apple offering what is to all intents and purposes a iPhone controlled wallet with fingerprint security and locked down OS there is not a lot of steps to go to reach a means of storing electronic currency which has a security and convenience that is hard to imagine b…

Stripe is receiving payments from Applepay not making them to Applepay so the other payment methods they accept have no impact on Applepay.

Re: Stripe and Apple Pay

#62

Post by axman6 »

MCRed wrote: post #53
biafra wrote: post #51

In which countries will Apple Pay launch in October?

The USA. The other countries Apple has not been specific about. I believe this will follow the pattern that Apple normally follows for complex regulatory-involved industries (e.g.: the cellular carriers to support the iPhone). They're probably already working on BRIC and the G8 countries, will focus on them initially and then start rolling it out to wider and wider countries (with deeper and deeper integration in tho…

I'd be surprised if Australia wasn't one of the first countries to get it; we've for a long time had very technologically advanced banks that are often years ahead of the US. Last I heard cheques were still used by most people to transfer money in the states, is that still the case? I've grown so used to being able to instantly transfer money to anyone for free from my phone that I can't imagine how tedious having to use cheques would be.

Re: Stripe and Apple Pay

#63

Post by pc »

ajju wrote: post #27
pc wrote: post #25

Earlier quoted context omitted.

Your Stripe pricing is the same if you use Apple Pay -- there are no additional fees. (And no 30%.) (We should update the page to say this...)

It looks like Applepay generates one-time cards by default resulting in a single-use Stripe token. Does that mean the use case this supports is only one-time payments versus "sign up with Apple pay+Stripe"? Any advice on how best to integrate Apple pay for recurring pay scenarios like Sumon? Edit: Some more context on how this all works from the other ApplePay thread on HN: http://clover-developers.blogspot.com/2014/…

This supports recurring payments too -- you can associate an Apple Pay-originated Stripe token with a Stripe customer object as normal, and then create charges for that that customer. (This means that the Lyft use-case also works largely unchanged.)

Re: Stripe and Apple Pay

#64

Post by scholia »

jonknee wrote: post #47
awicklander wrote: post #45

Earlier quoted context omitted.

So is Apple Pay in essence another way to get a credit card processed against stripe? If you have an app that customers can store credit cards on, it's not clear to me what the additional benefit of apple pay is? Is it simply a better/faster way of getting the card information to stripe by way of thumb press as opposed to key entered?

I suppose the idea would be that you want to lower the barriers to payment and a thumb press is pretty low.

In Europe, we can already pay for things with contactless bank cards, without even tapping (up to about $30). If you want to do it like NFC or iPay, you can always stick your payment card to the back of your phone....

UKCards Association says "44.6 million contactless cards in circulation in the UK, used to make 22.1 million contactless transactions in May 2014". http://www.theukcardsassociation.org.uk/contactless_consumer...

Re: Stripe and Apple Pay

#65

Post by evanspa »

awicklander wrote: post #45
pc wrote: post #7

Earlier quoted context omitted.

You can't use Apple Pay directly: you have to use it with a supported payment platform. (List is at https://developer.apple.com/apple-pay/. )

So is Apple Pay in essence another way to get a credit card processed against stripe? If you have an app that customers can store credit cards on, it's not clear to me what the additional benefit of apple pay is? Is it simply a better/faster way of getting the card information to stripe by way of thumb press as opposed to key entered?

With Apple Pay, your physical credit card number is NOT stored on the iPhone 6's secure element; instead, a token is (the token is effectively an alias to your credit card number; it looks like one too - is 16 digits, etc, so will work nicely w/existing payment infrastructure). So there's additional security there. If your iPhone 6 is stolen, you can report it stolen, and the issuing Bank of your credit card will simply invalidate your token. You won't have to worry about replacing your physical credit card. In contrast, if the merchant --- whose app you have your physical credit card number stored within --- is hacked, you'd have to get your credit cards replaced, which is of course more onerous than the former.

Re: Stripe and Apple Pay

#66

Post by jawngee »

axman6 wrote: post #62
MCRed wrote: post #53

Earlier quoted context omitted.

The USA. The other countries Apple has not been specific about. I believe this will follow the pattern that Apple normally follows for complex regulatory-involved industries (e.g.: the cellular carriers to support the iPhone). They're probably already working on BRIC and the G8 countries, will focus on them initially and then start rolling it out to wider and wider countries (with deeper and deeper integration in tho…

I'd be surprised if Australia wasn't one of the first countries to get it; we've for a long time had very technologically advanced banks that are often years ahead of the US. Last I heard cheques were still used by most people to transfer money in the states, is that still the case? I've grown so used to being able to instantly transfer money to anyone for free from my phone that I can't imagine how tedious having to…

No, nobody really uses checks anymore. Most payroll is direct deposit, person to person is Paypal, Venmo or your bank's version of them.

Edit: bills and rent are possibly the last hold out, but usually you set up bill payments through your bank.

Re: Stripe and Apple Pay

#67

Post by madeofpalk »

scholia wrote: post #64
jonknee wrote: post #47

Earlier quoted context omitted.

I suppose the idea would be that you want to lower the barriers to payment and a thumb press is pretty low.

In Europe, we can already pay for things with contactless bank cards, without even tapping (up to about $30). If you want to do it like NFC or iPay, you can always stick your payment card to the back of your phone.... UKCards Association says "44.6 million contactless cards in circulation in the UK, used to make 22.1 million contactless transactions in May 2014". http://www.theukcardsassociation.org.uk/contactless_co…

You joke about sticking your card to your phone but that's what my bank did https://www.commbank.com.au/blog/tap-pay-new-commbank-app-io...

Re: Stripe and Apple Pay

#68

Post by tonyb »

Letio wrote: post #29

Patrick, Curious, was the majority of the work required to support ApplePay related to the format of the PKPayment? I assume in other cases, you just pass the raw PAN + pin, etc, where as now you need to pass the encrypted single use token + cryptographic data + more. Was more work required to support ApplePay? And if so, did Visa/MC/Amex and the processing networks recently start supporting this payload, or has it b…

I think this all that extra stuff is a standard 3D Secure transaction (Verified by Visa/Mastercard SecureCard). Apple has replaced the complicated multi-step authentication process with TouchID

Re: Stripe and Apple Pay

#69

Post by stephenr »

jawngee wrote: post #66
axman6 wrote: post #62

Earlier quoted context omitted.

I'd be surprised if Australia wasn't one of the first countries to get it; we've for a long time had very technologically advanced banks that are often years ahead of the US. Last I heard cheques were still used by most people to transfer money in the states, is that still the case? I've grown so used to being able to instantly transfer money to anyone for free from my phone that I can't imagine how tedious having to…

No, nobody really uses checks anymore. Most payroll is direct deposit, person to person is Paypal, Venmo or your bank's version of them. Edit: bills and rent are possibly the last hold out, but usually you set up bill payments through your bank.

I remember reading tweets from an Australian that moved to the US (to work for Apple as it happens) commenting on the banking system maybe 2 or 3 years ago:

Basically his experience was:

- Cheques were still reasonably common, to the point that some bank(s) had mobile apps to scan a cheque to deposit it!

- "Bill payments" through a bank usually involved bank staff literally preparing a cheque on your behalf, and mailing it to the biller

As for your comment about "person to person is Paypal" - ok and what if I actually care about what happens to the money, rather than it randomly being held by some non-bank? Do US banks really not have a standard way to transfer money to another individual electronically?

In Australia all that's needed are BSB number (Bank-State-Branch, a unique identifier for each individual branch through the country) and Account number. Transfers could take up to a day or two, the last time I tracked it

In Thailand, there is a similar system where money can be transferred directly to an account belonging to someone else (or your own account at another bank). So far it has always been instant transfer.

Both of these systems are available via internet banking, mobile apps and in Australia, phone banking (not sure about Thailand, promo material isn't always in English)

I remember a few years ago a client in the US apologising for an incorrect wire transfer to me, as he'd given the teller the wrong amount (swapped a 5 and a 2 or something). I was stunned to think that the founder of a tech startup would not be using internet banking to make wire transfers to contractors, but after reading about the cheque situation it occurred to me that maybe he didn't have the choice.. can anyone confirm deny this is available?

Re: Stripe and Apple Pay

#70

Post by jawngee »

stephenr wrote: post #69
jawngee wrote: post #66

Earlier quoted context omitted.

No, nobody really uses checks anymore. Most payroll is direct deposit, person to person is Paypal, Venmo or your bank's version of them. Edit: bills and rent are possibly the last hold out, but usually you set up bill payments through your bank.

I remember reading tweets from an Australian that moved to the US (to work for Apple as it happens) commenting on the banking system maybe 2 or 3 years ago: Basically his experience was: - Cheques were still reasonably common, to the point that some bank(s) had mobile apps to scan a cheque to deposit it! - "Bill payments" through a bank usually involved bank staff literally preparing a cheque on your behalf, and mail…

Wire transfers are not common (other than Direct Deposit). Yes, banking apps can scan and deposit checks. Most banks offer a paypal like feature to send money to people. People prefer paypal to using those services though.

I sometimes still get paid by clients using checks, but most have switched over to direct deposit or paying with credit cards.

International wire transfers are another beast due to the IRS and all the regulation around it. You need their bank account, ABA routing number, name, branch address, etc. I wire funds to Vietnam all the time, but there is a limit to the frequency and amount that I can do. It also will raise flags with the IRS, which is something to avoid.

Paper checks are suspected to go the way of the dinosaur in the US by 2028.

The UK is also a big check writing country too, fwiw.

And, honestly, checks aren't a pain in the ass. It's probably the same amount of time/effort as logging into a website and sending money, except for the time it takes to mail it or deliver it by hand.

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