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Apple Pay

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Re: Apple Pay

#151

Post by archagon »

pinedapple wrote: post #119

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 Ap…

Given that they don't even know how much you're spending (as per the keynote), I doubt they're doing a surcharge.

Re: Apple Pay

#152

Post by ycombinatoracc »

ycombinatoracc wrote: post #74

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

Oh look it Apple fanaticism is alive and well, one gets down-voted for pointing out that Apple can not be trusted with security in light of recent events

Re: Apple Pay

#153

Post by LunaSea »

No-contact payment is exactly the kind of secure piece of engineering we needed. Especially after the iCloud debacle. /s

Re: Apple Pay

#154

Post by shitlord »

itry wrote: post #56
tdicola wrote: post #50

Earlier quoted context omitted.

The cynic in me winces when thinking of the mess all the banks and interested companies would make trying to get together and build a payment standard. Just look at the terrible mess of stuff like OFX.

Bitcoin might be a way around this. Also it might not be necessary for the involved parties to get together. They could release different protocols. And then the lesser used will be forgotten (like gopher is forgotten today) and the more frequent used will survive (like http has survived). Update: Why the downvotes?

Most people either haven't heard of Bitcoin or regard Bitcoins as "internet fun bux". It's not happening (at least, not in 2014).

Re: Apple Pay

#155

Post by e1g »

PanMan wrote: post #128
arfrank wrote: post #112

Earlier quoted context omitted.

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

BPS?

In finance, 1 BPS is 1/100th of a percent. So Apple could be pocketing ~0.2% on all transactions.

The US does about $12B in card transactions per day. This means that for every 1% of US transactions it captures, Apple could add ~$80M to the annual revenue which is a very small amount against its $140B revenue. Yes there are international markets, but still this is not done for profits by itself.

Re: Apple Pay

#156

Post by polynomial »

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.

It's not a comprehensive protocol but worth noting the http does have 402 Payment Required which hasn't been used up to now, but could be implemented with BTC.

Re: Apple Pay

#157

Post by shitlord »

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-...

It would be funny if the terrorist group changed their name to avoid the association with Verizon Wireless

Re: Apple Pay

#158

Post by smacktoward »

itry wrote: post #132
tfinniga wrote: post #126

Earlier quoted context omitted.

I guess technically those were separate online services. They only connected up to the internet near the end of their lifetime.

You had to dial into AOL and Compuserve?

Yep. They had long lists of phone numbers you could dial into; when you set up the software, it would set itself up to use one near you, so you wouldn't get charged long-distance fees.

Re: Apple Pay

#159

Post by MrScruff »

BlakePetersen wrote: post #106
ctz wrote: post #91

Earlier quoted context omitted.

The payments protocol is called EMV. The wireless transport protocol is ISO14443. Then we have different branding of the combination of EMV+ISO14443 for different card issuing networks (Mastercard PayPass, Visa payWave, etc.) Apple Pay and Google Wallet are further branding of the pair of standards. A possible reason Apple might succeed where Google Wallet failed: Apple have a better track record of telling MNOs to f…

Google doesn't cause bloatware, Carriers and Handset makers do. One of the many consequences of OSS, people can fork and bloat to their heart's content. Also, I haven't had one issue with software updates on my Nexus 5 (which indeed comes bloatware free). If I recall correctly, wasn't the iOS7 update a shit show?

If I recall correctly, wasn't the iOS7 update a shit show?

Not sure what you're referring to. I'm happily using iOS7 on a iPhone 4 (a 4 year old phone) to this day.

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