Will it work in India ?
Apple Pay
211–220 of 225 posts
Re: Apple Pay
#212Earlier quoted context omitted.
They use the same tech to communicate (NFC) but Apple's security features seem unique.
Which is pretty irrelevant: what matters is whether banks/payment processors will accept it, and whether it interops with the payWave/payPass readers at merchants, which in turn depends on them installing them. We've had high penetration of contactless in Australia for a long while now, security being "happen to physically hold the card". The bar to accept contactless payments is very low - what matters is that a mer…
> We've had high penetration of contactless in Australia for a long while now
The problem with credit card payments in Australia is that many merchants charge an additional fee for using it, so I often end up paying cash anyway. This is stupid -- the payment processing fee is a cost of doing business, and should not be passed on to customers (or should be built into the pricing of the products).
Re: Apple Pay
#213Earlier quoted context omitted.
They use the same tech to communicate (NFC) but Apple's security features seem unique.
Which is pretty irrelevant: what matters is whether banks/payment processors will accept it, and whether it interops with the payWave/payPass readers at merchants, which in turn depends on them installing them. We've had high penetration of contactless in Australia for a long while now, security being "happen to physically hold the card". The bar to accept contactless payments is very low - what matters is that a mer…
The security is a little more complicated than that. There are dozens of in-application checks and controls which try to guarantee that you're who you say you are, that you're authorized to make the payment, that you have funds and that the amount to pay is within certain limits. Naturally, a stolen card could be used once or twice. But never for very high amounts and never very many times: the card will request PIN and then the thief is stuffed.
And yeah, like Australia, contactless has been growing in Europe for the last few years. It's just starting in the US and these devices will help to trigger uptake (IMO).
Re: Apple Pay
#214Japan 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.
> That system is also widely deployed but in my experience (9 years of living there, no evidence other than anecdotal) not widely used.
I hardly ever carry cash with me anymore when I'm in Japan. Suica and Edy are accepted almost everywhere and it's super convenient. I'm sure it's even better for people who live there because they can get it integrated into their phone, which is not available to tourists like me.
Re: Apple Pay
#215What 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…
Apple Pay is intended for purchasing items in Stores, not apps. Apple Pay won't change anything about purchasing apps / in-app purchases. Apple Pay won't take a 30% cut of every transaction.
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Re: Apple Pay
#216What 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.
I stand corrected, Bloomberg says a fee will be collected. The agreement is between Apple and the banks. http://www.macrumors.com/2014/09/10/apple-collecting-bank-fe...
Re: Apple Pay
#217No-contact payment is exactly the kind of secure piece of engineering we needed. Especially after the iCloud debacle. /s
Apple doesn't store the card details on their servers. So that's irrelevant.
Re: Apple Pay
#218This seems similar to Google Wallet, which has been around for a few years. How does Apple plan to make this a bigger success?
No idea if it'll be a bigger success, but some thoughts: 1. Timing - 2011 (Wallet release) seems early for consumer NFC, not to mention smartphone penetration ([1] ~30% 2011 to ~70% 2014) and mass market comfort with mobile transactions (Uber, etc.) Wallet may just have been launched too early, they may have educated the market rather than capitalized on it. 2. Existing credit card info - many consumers already give…
A bit more on the timing: USA is finally switching to EMV based credit card payments (chip and pin) during this year and the next, meaning that most terminals will likely be able to accept NFC payments as well (Google Wallet, Apple Pay, whatever else that follows the spec)
Re: Apple Pay
#219I bet Apple would've named it iPay if it weren't for the fact that iPay has already been taken by a ton of other payment-processing-related things.
Same with iTV (ITV in the UK) and iPhone back in the day etc.
I think we are seeing a move to Apple , partly because of this and partly because the Apple brand is so strong.
Re: Apple Pay
#220Slightly Off Topic, Does anyone know if there are any plans to speed up the NFC process? The current one being used by MasterCard and Visa are all very slow. It takes like 3 seconds, compared to Sony's Felica which happens under 0.3 seconds.