91–100 of 100 posts
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Apple trackpads can already distinguish between a finger touching them and being physically depressed, though I don't know what it has to do with payments.
Thats a very different mechanism.
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Then why does Apple Pay have to be "compatible" with visa/MC/Amex? I don't think it just stores a digital version of the credit card...
Apple charges the banks and credit card issuers a fee every time Apple Pay is used, rather than charging the company receiving the money.
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Just curious...does Google Wallet also do the same thing?
No, Google Wallet doesn't. When performing a tap & pay at a merchant NFC terminal using Google Wallet with your Android phone (running 4.4+), your Google Wallet Mastercard card is the card-account actually being used vis-a-vis transaction authorization. Then, later, Google will charge your card that you've configured to be your default-payment card. I do not know if Google is fully implementing Mastercard PayExpress…
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Apple charges the banks and credit card issuers a fee every time Apple Pay is used, rather than charging the company receiving the money.
How do you know that Apple receives a fee for the transaction? I'd be curious to see a source.
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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…
That's what I don't understand...why does a NFC transaction have to involve smartphones? What is it that needs the processing power of a smartphone? Is it so that Goog Wallet/Apple Pay can access your transaction data?
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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…
And then wait for it to clear, hope it doesn't get lost, order a new cheque book, etc. Edit: did you notice what I said about transfers in Thailand: instant. I can, within about 90 seconds, send money to a person or business at any other bank in the country. A cheque is only "basically the same time" if your scale for comparison is years. Cheques are absolutely a pain in the ass, and you're kidding yourself if you th…
Checks are cleared almost instantly now. When you take a photo of it, it's run through ACH just like a wire transfer is. At most, it takes a day depending on when you deposit it.
I never said the US was ahead or behind either, that's something you erroneously inferred. Checks are no longer common, as I said a few replies up. Other than dealing with come clients that still pay by check, I haven't seen one or dealt with them for years.
Also, I live part-time in Vietnam, so I know all about wire transfers thank you very much. I also know what dicks Aussie ex-pats are too, thanks for confirmation.
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No, Google Wallet doesn't. When performing a tap & pay at a merchant NFC terminal using Google Wallet with your Android phone (running 4.4+), your Google Wallet Mastercard card is the card-account actually being used vis-a-vis transaction authorization. Then, later, Google will charge your card that you've configured to be your default-payment card. I do not know if Google is fully implementing Mastercard PayExpress…
Interesting. Does this mean that transaction data (what I bought, when I bought) is visible to Google, unlike Apple Pay (claimed)?
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And then wait for it to clear, hope it doesn't get lost, order a new cheque book, etc. Edit: did you notice what I said about transfers in Thailand: instant. I can, within about 90 seconds, send money to a person or business at any other bank in the country. A cheque is only "basically the same time" if your scale for comparison is years. Cheques are absolutely a pain in the ass, and you're kidding yourself if you th…
If you asked for an opinion but already had your mind made up, why did you even ask? Checks are cleared almost instantly now. When you take a photo of it, it's run through ACH just like a wire transfer is. At most, it takes a day depending on when you deposit it. I never said the US was ahead or behind either, that's something you erroneously inferred. Checks are no longer common, as I said a few replies up. Other th…
If you look again you'll see I didn't ask for an opinion, like "are cheques a good way to transfer funds" I asked for confirmation/updates about a previously documented fact - the use of cheques in us banking.
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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...
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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…
Even BofA in the USA issued tags that could be attached to the back of a phone (or anywhere else). That's what I don't understand...why does a NFC transaction have to involve smartphones? What is it that needs the processing power of a smartphone? Is it so that Goog Wallet/Apple Pay can access your transaction data?
NFC payments don't have to involve smartphones, but look at what Apple Pay gets you:
- Biometric auth - one-time numbers generated for each transaction - multiple cards in one place - hides your info from the vendor (and apple for that matter)
Those are pretty nice things to get from something that lets me ditch my wallet...