601–610 of 736 posts
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The real news is Apple specifically took a non competitive stance — making the API available to third parties like Stripe - rather than building in house, leveraging Apple Card connections, or similar
I am surprised Apple didn't make this a closed system and compete with Square for small businesses.
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Are you concerned about a malicious employee using their own iphone to steal the money? Why couldn't they give you their own square terminal? On that note, when you pay cash why can't they just pocket whatever you give them? I don't see why you care anyway, they would be stealing from the store, not from you. You would already have whatever item you are buying.
Because I can somewhat trust the Square terminal will show the correct amount? If I swipe some random persons iPhone, whats stopping them from showing a $10 total and charging $1000? Is the iPhone gonna print a receipt?
The first time I used one of those strange little white terminals it seemed a bit dodgy ... but you pretty quickly come to trust that what's on the screen is what gets debited.
Also I doubt Apple would leave a nice app-accessible text field on the Tap To Pay dialog where I can insert my fake amount. Right ?!
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It competes with anyone selling point of sale hardware. I think Square falls into that camp, no? I wouldn't want to be in that space right now. I don't see how this doesn't usurp a big chunk of their market since it isn't even a decision between buy this or buy that, but buy that or just use the thing already in my pocket.
I assume Square makes vastly more on fees than on hardware, so the opportunity to make fees off more merchants who have a smaller barrier to entry is probably beneficial, even if they don't buy hardware.
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I am surprised Apple didn't make this a closed system and compete with Square for small businesses.
It competes with anyone selling point of sale hardware. I think Square falls into that camp, no? I wouldn't want to be in that space right now. I don't see how this doesn't usurp a big chunk of their market since it isn't even a decision between buy this or buy that, but buy that or just use the thing already in my pocket.
I would be very surprised if Apple tried to enter the credit card processing industry. It isn't the sort of thing they're positioned to do well.
Great, now I need an RFID-blocking wallet because any yeehaw can place their iPhone to my pocket to charge my credit card.
That's been possible ever since mobile POS services have started supporting contactless payments, without any catastrophic fallout.
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I'm down to just my backup card in my MagSafe wallet. I'll occasionally keep my ID in there too but only if I know I'm going out to a place that needs to check a physical ID. If I could, I would do without the wallet completely.
A few years ago I was surprised that in some states it is illegal to go out in public without an ID in the event a cop stops you and asks for ID. Seems completely contrary to everything we were taught growing up.
Many states require that you identify yourself (presumably full name and DOB at a minimum) to an officer upon request, but I don't think that means you have to carry the physical card, just provide your identity (which can be done verbally).
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I'm not even sure there, at least for another few years. No store, mom and pop or otherwise, would want to be "tap to pay only" as a means of taking credit card payments. There are still plenty of cards out there that don't have RFID chips.
Wow really? That’s surprising for some reason. Here in Australia that’s super common, RFID is in every card you can think of. If I go to the farmers market on the weekend, they all accept cash or tap-to-pay with a Square tap-only reader, and that’s it.
It looks like they are going through similar weird things with instant bank transfers. In Australia all the major banks just have instant transfers built in. I use the bank app to transfer to friends and they get notified. In the US you Venmo or PayPal or whatever.
Clarification due to a somewhat confusing title: This is about the merchant using an iPhone to accept credit cards and other Tap to Pay devices. The customer was able to pay with Tap to Pay with their iPhone for a while now.
How secure is this? For example in the Netherlands creditcards are showing a secret number on the backside of the card. Let's say the app on the phone is altered and making pictures of the card once it swiped over. The phone can then collect all information to make a purchase. I would not trust somebodies phone to swipe my card over.