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Apple Pay

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Re: Apple Pay

#111

Post by swang »

Quasimoto3000 wrote: post #83
ycombinatoracc wrote: post #74

From a company that keeps your pictures secure comes secure credit card wallet, you couldn't make it up :rollseyes:

Correct me if I am wrong, but wasn't there no connection between Apple and the leaks?

You are wrong. Apple says there was no "security breach" except their lack of security for the FindMyIphone website caused the breach.

Mainly they exploited the fact that the FindMyIphone website did not throttle the number of login attempts. So you can do it as many times as possible. Apple deflected this by "denying" that any usernames or passwords were leaked, but in reality it is their fault that the accounts were compromised.

Re: Apple Pay

#112

Post by arfrank »

jobu wrote: post #52
0sense wrote: post #9

Apple pay is an interesting and natural move from Apple. They probably have the largest number of credit cards info on earth. I think this business can eventually become larger than the iTunes if they execute it well. I couldnt find any information on whether Apple pay users can use this for online purchases or not. If they do this may be their next move will be to naturally be the Paypal competitor.

Does Apple charge anything for the transaction?

Looks like Apple's commission is ~15-25 BPS for participating banks (from those banks):

   "The biggest “surprise” over last 2 months is that Apple has squeezed 15-25bps from the 5-6 participating banks at launch (C, BAC, COF, JPM, Amex and perhaps WFC)."
http://blog.starpointllp.com/blog/?p=3855

Re: Apple Pay

#113

Post by eloisant »

itry wrote: post #41

So we want to make payments via our phones. My first thought would be to create a protocol for this. Instead we get ApplePay and GoogleWallet and whatnot. If the internet was invented today, we would have AppleMail instead of email and GoogleTrans instead of http.

I still don't see how replacing a credit card (that can be used for contactless payment with Visa Paywave or Mastercard contactless) by a phone that may have a dead battery brings anything to the table.

Really, what's the point?

Re: Apple Pay

#114

Post by FlailFast »

bsimpson wrote: post #42
adorton wrote: post #15

This seems similar to Google Wallet, which has been around for a few years. How does Apple plan to make this a bigger success?

Google Wallet was terrible because you had to unlock your phone and enter a PIN, making it instantly way more cumbersome than swiping a card. Since the iPhones that have NFC also have TouchID, they can authenticate you instantly without resorting to a PIN. If it works as advertised, it will be a huge improvement over Google Wallet. (I still think Square got closest to an ideal payment scheme with Pay with Square, whe…

Agreed on Square, but they even went a step further for a time and allowed geofencing at your favorite places...back when Square Wallet was still around, I used to frequently go to a Houston-area coffee shop with Square Register and never had to pull my phone out to pay. It was downright magical...wish they hadn't cancelled Wallet, it really had so much potential.

Re: Apple Pay

#115

Post by eloisant »

sosborn wrote: post #68
hrktb wrote: post #53

Japan has a flourishing NFC payment ecosystem, and it's strange it's completely left out on this announcement. Would they have given early access and bundled the Suica app for instance, they could have boasted millions of users from the get go. I wonder if the upcoming API is even compatible with the Felica standard, but that would be a weird thing to do.

Japan's NFC payment ecosystem is owned by Sony and DoCoMo. I highly doubt that Apple wanted to subject themselves to the license terms and/or the lack of technical control. That system is also widely deployed but in my experience (9 years of living there, no evidence other than anecdotal) not widely used.

Well, Suica is widely used for payment - and not just to buy train tickets.

Re: Apple Pay

#116

Post by happyscrappy »

allegory wrote: post #5

What I want to know, having a contactless card, is what do you do when the machine isn't working. You can't swipe it or use the chip in this case. Then you're screwed. If you have to carry the card anyway to get around this, what's the point other than showing everyone you have an iPhone, which at least in London is a quick way to get cracked over the head.

That's true because Androids are not worth anything for resale.

Re: Apple Pay

#117

Post by itry »

eloisant wrote: post #113
itry wrote: post #41

So we want to make payments via our phones. My first thought would be to create a protocol for this. Instead we get ApplePay and GoogleWallet and whatnot. If the internet was invented today, we would have AppleMail instead of email and GoogleTrans instead of http.

I still don't see how replacing a credit card (that can be used for contactless payment with Visa Paywave or Mastercard contactless) by a phone that may have a dead battery brings anything to the table. Really, what's the point?

1) One thing less to carry around

2) The credit card gives away data that can be used for fraud. Your phone does not have to do that.

Re: Apple Pay

#118

Post by jaggederest »

post_break wrote: post #105
seanflyon wrote: post #99

Earlier quoted context omitted.

FYI Isis changed their name to Softcard to sound less terroristy http://www.bloomberg.com/news/2014-09-03/isis-mobile-wallet-...

Gotcha. Well they still deny google wallet on their POS machines.

And people will still continue to ignore them as though there were no reader at all.

Re: Apple Pay

#119

Post by pinedapple »

What is Apple's Cut going to be to use Apple Pay ?

1. Say, I have an app that will Apple Pay. So in addition to 30% cut made by Apple for my app will using Apple Pay cost more ?

2. I understand this will require NFC terminal to recognize the payment through Apple Pay but that's in physical store. If I already have some payment method setup for my app why should I choose to use Apple Pay ? or I guess my question is Apple already stores credit cards. While purchasing apps you can already do with one click. How Apple Pay is different ?

Re: Apple Pay

#120

Post by chadgeidel »

seanflyon wrote: post #99
post_break wrote: post #63

Earlier quoted context omitted.

ISIS already limits it to ISIS only.

FYI Isis changed their name to Softcard to sound less terroristy http://www.bloomberg.com/news/2014-09-03/isis-mobile-wallet-...

Thanks, I was going to Google and then thought "there's no way I will get relevant results"
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