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How Apple Pay works and why it matters for developers

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Re: How Apple Pay works and why it matters for developers

#111

Post by iknowthissuff2 »

bsaul wrote: post #68

A few counterpoints to having your phone used as a payment device : - it breaks more easily and wears out quicker than a card - you can't lend it to a friend to have him buy stuff for you ( i don't have a pass id iphone so maybe i'm wrong on this one) - it gets stolen more often because it has intrisic value ( and a big one for the iphone) - if it gets stolen, how are you going to call your bank to disable it ? Plus,…

#2) You can attach multiple tokens to a card. If you want to go through with it I supposed you could attach it to your friends phone... or just give them your card because you will still have that.

#4) You call your bank and they don't allow that token to be used anymore, pretty simple really.

You don't even have to change cards because all they got was the token, which can only be used where you authorized it, once. So if someone gets the token it's pretty useless.

Re: How Apple Pay works and why it matters for developers

#112

Post by iknowthissuff2 »

kunaalarya wrote: post #63
thinkling wrote: post #51

I'm very curious about the business side of ApplePay. Is Apple going to get some (miniscule) cut of every transaction performed? I.e. is this a new revenue stream for Apple?

they said in their faq that they won't be taking a cut. Either this is purely for improving the ecosystem, or they're getting a cut from banks for cutting down fraud.

The latter is most likely

Re: How Apple Pay works and why it matters for developers

#113

Post by djrogers »

bsaul wrote: post #68

A few counterpoints to having your phone used as a payment device : - it breaks more easily and wears out quicker than a card - you can't lend it to a friend to have him buy stuff for you ( i don't have a pass id iphone so maybe i'm wrong on this one) - it gets stolen more often because it has intrisic value ( and a big one for the iphone) - if it gets stolen, how are you going to call your bank to disable it ? Plus,…

1) Hasn't been my experience, and when it does break a) I can get it replaced in hours not days, and b) I still have my card as a backup

2) that's not allowed by your existing cardholder agreements anyway, but if you need to do so, just give your friend your actual card

3) Demonstrably false - my CC has been replaced by my bank multiple times due to large data breaches, but my iPhone has never been stolen

4) you don't - you use Find My iPhone to disable it and your original card still works because your phone has been using tokens and one-time crypto for transactions.

Re: How Apple Pay works and why it matters for developers

#114

Post by greggarious »

One thing I am not clear on: Will Apple make ApplePay available to Android users?

If they do, they would get more sales. More people wielding compatible phones would also drive adoption. (Think of how Discover used to be made fun of on Family Guy, but now almost everywhere will take it)

I personally think that will be the tipping point to getting a critical mass of users - making sure it's cross platform.

Re: How Apple Pay works and why it matters for developers

#115

Post by lxgr »

danpalmer wrote: post #85
cdnsteve wrote: post #32

Maybe it's just me but I'm not drinking the kool aid about Apple Pay in today's announcement. Aside, I really hated the fact that to watch the event you had to use a Safari browser, same with watching Swift tutorial videos on their website, using latest Chrome on a Mac... Maybe I'm old school but I'm actually finding that payment options are getting worse, not better. This is another example of further fragmentation.…

Just a note on the fact you had to use Safari to watch the video, there's a technical reason behind that, it's not arbitrary lock-in on Apple's part. Apple use HTTP Live Streaming for their live streams. This is an open technology they are trying to get adopted more widely (RFC: http://tools.ietf.org/html/draft-pantos-http-live-streaming-... ). Currently, HLS is not implemented by Chrome or other browsers, in part be…

Google actually neither supports nor ignores HLS; they provide a JavaScript interface that allows sites to support HLS, MPEG-DASH and possibly other protocols. Apple's site seems to rely on "native" HLS support; this is probably why Chrome can't stream the video.

https://code.google.com/p/chromium/issues/detail?id=54198#c1...

Re: How Apple Pay works and why it matters for developers

#116

Post by lxgr »

needusername wrote: post #74
Schweigi wrote: post #4

Apple Pay uses industry-standard EMV contactless protocols over NFC (and MSD contactless for backward compatibility). This makes it compatible with a wide range of contactless payment terminals in deployment today. So if the last section of the article is correct that means ApplePay will be compatible with Mastercard PayPass terminals? If this is true it would be really easy to roll out ApplePay as for example in Swi…

It sounds like the acquirer needs to be ready to support network-level tokenization. I have no idea how an acquirer can detect what kind of card it is an compute interchange when everything is in the same BIN.

The Tokenisation FAQ by EMVCo suggests that the BINs could be selected from the card network's existing ranges, which would allow merchants and acquirers to simply pass them through to the network (where the de-tokenisation is performed): http://www.emvco.com/faq.aspx?id=264#13
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