621–630 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
They can always take a competitive stance later, once small businesses have gotten rid of all their PoS hardware. This makes that initial adoption much easier.
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> Swiping pressure-sensitive paper over the raised numbers (the original method) is still possible I've seen this still happen occasionally in taxis - or rather I saw it happen within the past decade. When I last lived in the states I'd bump into it especially with rural taxis - I assume it's dying quickly though because it's incredibly inconvenient when compared to paying via an app or tapping. The lack of raised di…
I've had a lot of taxi drivers tell me they couldn't take credit cards at all. That is, until I tell them "I have no other way to pay, so I guess... later dude". Suddenly it's, "oh, oh, oh, the card reader is working again, look at that!"
We didn't have cash, so we just left. The woman was furious. We hadn't received our food yet, but it was already being cooked. She screamed at us to go to an ATM a few blocks away, get cash, and come back. We just found another restaurant. If the card hadn't worked I would've felt bad and probably done that, but she wouldn't even try it. Don't advertise that you take credit cards and get mad when customers try to use them.
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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?
This is an interesting to think about. Say you're at an ice cream stand that has a Square Reader (the little square hockey puck reader) that's paired with an iPhone running Square's payment reader. The merchant rings you up for $5, shows you the phone in their hand indicating the cost, and the Square Reader lights up to show it's ready for payment. You pay via inserting your credit card, which processes in a few seco…
I was using my phone for contactless pay but stopped during the pandemic because I realized it was more cumbersome than using a credit card to do the same thing. The phone tries to scan my face, fails because of the mask, then just waits for a hot second to see if my face might change shape, then prompts for a password. With the credit card, I just swipe it over the reader and I'm done.
Thankfully in iOS 15.4 (currently in beta), Face ID works with a mask on by scanning the shit out of your orbital bones
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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
Presumably, in order to become an approved partner, you need to pay a kickback to apple.
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NZ and similar has had bank to bank payments for ...decades?
Fee-less and effectively instant? That's the state we are at, now, though it doesn't work for all banks due to the separate clearing system for instant transfers. Normal transfers just take a bank day delay if you're unlucky.
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And people wonder why Uber killed the whole taxi industry overnight.
Well, in all fairness, Uber mostly killed the whole taxi industry by being really really illegal and not following any of the rules - including those meant for regulatory capture and those for safety. About 3000 women are sexually assaulted by Uber drivers every year - I'm not saying that doesn't happen with taxis too, just be careful about painting a too-rosy picture.
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Something I was thinking about the other day is how some modern credit cards technically have four different ways to pay. Swiping pressure-sensitive paper over the raised numbers (the original method) is still possible, though I haven't seen a merchant actually do this since maybe the mid-2000's. Then you have magstripe, chip, and RFID all in the same card. Pretty impressive backwards compatibility, although I think…
I had my card taken that way five-ish years ago. It was on a ferry where presumably there wasn't enough service to use a digital reader. Or maybe the system was just down. I never knew that was an option until then!
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>> CC's aren't available A misstatement by me, still they are extra to what should be a bank to bank matter.
No argument from me here. I would like to see better financial infrastructure. Specifically the idea that VISA is permitted to collect a 4% sales tax on virtually everything is a real bummer.
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The Apple credit card only shows the number if you reveal it in Apple Wallet app. Their card, technically run by Goldman Sachs, is all white with no numbers. Not sire how to verify but I've heard if you use it with Apple Pay I think it doesn't use that number, but a rotating one.
It can use a rotating number, I think, but when I tap my watch, any receipt with shows me the last four digits still shows me the same last four digits. Apple rotates the CVV, but not the card number so much.