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Apple Pay

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Re: Apple Pay

#51

Post by thrownaway2424 »

eevilspock wrote: post #44
MBCook wrote: post #31

Earlier quoted context omitted.

Apple has three advantages. First, it's on iPhone, which is a ton of devices. Second, they already have your credit card because you've used it to buy apps or music, etc. Third, people will know this exists because of the media. So if you get a new iPhone, you're ready to start using it almost immediately. I'm sure I'll use it. With Android, Google has to get you to sign up for wallet and get you to know that you sho…

Does Google Wallet have similar security features, such as not storing or transmitting your actual credit card number or your name, or use of a secure enclave in the phone hardware?

No. Google Wallet simply blurts the magstripe information into the reader over NFC. It has no security features to speak of.

Re: Apple Pay

#52

Post by jobu »

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?

Re: Apple Pay

#53

Post by hrktb »

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.

Re: Apple Pay

#54

Post by dclusin »

tdicola wrote: post #50
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.

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.

FIX

Re: Apple Pay

#55

Post by panabee »

eevilspock wrote: post #38
panabee wrote: post #13

One implication of Apple Pay is it erodes advantages of leaders like Uber. Minimizing payment and account friction means trying a new service becomes much easier.

The same way the App Store did that for software purchases.

Yes, though unlike the App Store, this will take much longer to unfold since there is so much infrastructure out of Apple's control. But Apple Pay should galvanize the payments and commerce industries, eventually leading to much greater competition among retailers and service providers -- and more benefits to consumers.

Re: Apple Pay

#56

Post by itry »

tdicola wrote: post #50
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.

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?

Re: Apple Pay

#57

Post by craigching »

julianpye wrote: post #14

Can someone local find out where exactly the Antenna is? Nokia devices have been great at this with the touchpoint at the edges, which feels natural, while most Android devices have an awkward spot somewhere in the lower middle. Is it on the Apple logo? This may still make it feel awkward to use.

Apple showed where it was during the event, I don't recall exactly where it is in the stream, but it's there. It's on the top of the phone.

Re: Apple Pay

#58

Post by maxbrown »

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?

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 Apple their CC info and payments (iTunes). I can only think of a few examples where you pay Google (Adwords, Google Play) and they are less commonly used.

3. Hype factor - Apple has some magic when it comes to hyping consumer products and services. Google has some of this, but I don't think it's nearly as much, especially with the general population (i.e. non-developers).

[1] http://www.gsmarena.com/asymco_pricing_doesnt_affect_smartph...

Re: Apple Pay

#59

Post by craigching »

dangoor wrote: post #30
Nickoladze wrote: post #20

Earlier quoted context omitted.

Hopefully this means stores will actually install the NFC readers or whatever.

One interesting unrelated development: the US is moving to chip-and-PIN cards next year. Merchants that don't move over to the new system (in other words, those that still take signatures instead of having you do the chip-and-PIN thing) will be responsible for fraud that occurs in their stores... so merchants will switch. If merchants are getting new credit card terminals anyhow, it seems likely they'd get NFC compat…

> I noticed that the Whole Foods near me just changed their credit card terminals a couple of weeks ago...

Yep, Whole Foods near me has as well. Also Walgreens near me has new terminals too.

Re: Apple Pay

#60

Post by mitchty »

pacofvf wrote: post #23
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?

if by similar you mean actually the same, yes they are similar

How? Google wallet basically dumps magstripe out of nfc. This doesn't do anything close to that.

Can you explain how they are the same?

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