161–170 of 229 posts
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It's not about FB deliberately doing something funky with it - it's about one of the million and one apps that have requested access to your FB account at some point doing something funky with it. You may trust them to do it as securely as the next person, but at least partly based on their past reputation around privacy, I don't.
Do you think facebooks payment implementation would be naive enough to allow anything like this?
This is partly because of the fraud risk, partly because of VISA and MasterCard's duopoly. Facebook is pretty well situated to deal with both IMO.
And it's not just online payments: The current state-of-the-art in mobile-phone POS payments ("It's exactly like a credit-card! Except it's in your phone!") seems like a dead-end to me. Facebook is in a unique position to move into this area.
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I think you're wrong. Ever had to buy stuff you didn't want to meet a minimum spend on cards? Cause over here many shops have a minimum of £5. And this is why. Oh yes, the consumer cares, they just blame the shop owner instead of the cartels.
>Ever had to buy stuff you didn't want to meet a minimum spend on cards? On the internet? No.
Now you know what we're all talking about and can start giving a flying fuck!
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Using your real identity to make online payments could reduce that to real world levels How many of your friends have had their facebook accounts stolen? For me, it's a few percent. "Oh look, another random acquaintance is stuck in Abu Dhabi and needs me to wire them some money" Facebook security isn't nearly good enough to be handed my wallet. Actually it's not my wallet that's the problem, it's the wallet of everyb…
> Facebook security isn't nearly good enough . . . Pretty sure most cases where people's accounts get hacked have nothing to do with the security of the website, except inasmuch as the site fails to provide an authenticator. Most "hacking" involves getting a computer virus or entering your password into a site that is not actually Facebook.
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Why not "Coca Cola Buy" NFC payment chip in every bottle too to be used in restaurants/bars? My mother knows the brand Coca Cola, and if Coca Cola hires 1000 engineers to provide an NFC chip in every bottle; they may get 1% from global.....
Wouldn't this get a bit crowded? For example Coke buy, Pepsi buy, McDonalds buy, etc. I personally wouldn't want to use a system for payment that would only work for one brand.
Plus, I played a lot of fallout and I like the idea of paying for things in caps!
Are online payments such a big unsolved problem? It takes me all of 10 seconds to type my CC number and associated security codes. Sites that I use a lot tend to allow subsequent purchases without re-entering them anyway. If everyone's facebook account has CC details attached and a 1 click "pay now" button you are only 1 XSS vulnerability from fraud on an unprecedented scale.
Almost every time I use my ccard I get redirected to my bank's website where I have to login. This involves entering two fixed digits (long and tough to remember) and a third token using using a little calculator like device which they supplied me, for which I also need my bank card and its pincode. Once I've passed this step I have to generate another one time token using this little device. If I want to use my ccar…
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>Ever had to buy stuff you didn't want to meet a minimum spend on cards? On the internet? No.
That because you can't buy inexpensive stuff on the internet. Because of minimum card charges. Now you know what we're all talking about and can start giving a flying fuck!
1. I don't have any pressing need to buy a product at such a low price point, and don't see any need to do this in the future.
2. My credit card works wonderfully, and if a retailer pisses me off, I'll phone them and it'll be reversed no questions asked.
3. Again, I (and most other consumers) already have a solution to buying something online that is almost perfect from my perspective. I have three of them in my wallet sitting with me at this very moment (actually, my wallet is a bit of a problem you could look into, especially in the summer).
I don't need paypal. I don't need pretend currency. I don't trust you to get anywhere near my actual bank account. I have several security options with my credit cards that I'm comfortable with.
I personally don't really care that it costs you x amount to take my credit card as a retailer. I've already factored in all your business costs into my evaluation of the price of your product. I also don't care that your employee demanded a raise last week, you need to buy a new computer or that rent is going up. These are your problems.
Again, do you understand that as a consumer, I view my credit cards as almost the ideal product to conduct business on the internet? You're trying to fix a problem that I just don't have by providing me with a solution that I just don't need.
$10 billion? I don't think so. VISA: $3.36 billion profit | DFS: $2.2 billion profit | AXP: $4.9 billion profit | MA: $1.9 billion profit That's Visa, Discover, American Express, and MasterCard. That's a $12.4 billion profit, if you take every aspect of all their businesses away from them across the board and basically acquire a complete monopoly in transactions. Their businesses go far beyond processing of course, s…
Revenue is multiples of those numbers though. Because Visa manages to have insanely bloated overhead doesn't mean Facebook would.
Visa has a $80 billion market cap, $9b in sales, and $3.6b in profit with a mere 7,500 employees. One of the best ratios of any major company. In fact, it's better than Facebook's current employee to sales ratio (and it's worth pointing out that they're nearly at a $10b sales run rate, and $4b in annual profit).
Visa has around a 40% net margin, that's beyond extraordinary. There's almost zero chance Facebook can be any less bloated than what Visa is already doing.
Discover also has a stellar ratio, 11k employees to $8.5 billion in sales.
Ditto MasterCard, with 6,700 employees and $6.7b in sales.
I've been on FB since the beginning. And I've never clicked on an ad. What makes you think I will to actually buy something? I barely trust Paypal, you think I'm gonna trust FB with my CC details. You gotta be kidding. There are a few steps FB must do before I'll trust them with anything other than bs about what games I'm playing now: 1. Convince me they take my security and privacy seriously. 2. Convince me they are…
I'll offer a counter anecdote. I've been impressed by their targeted ads more than once and clicked!
It has to get hyper-specific though. Not like gender-targeting, for me it read that I liked linguistics at one point in my profile and offered me an add to by a Wug shirt. I was super impressed and spent time in their online store.