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Apple unveils contactless payments via Tap to Pay on iPhone

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Re: Apple unveils contactless payments via Tap to Pay on iPhone

#651

Post by alwillis »

sn1de wrote: post #448
monkeynotes wrote: post #412

Earlier quoted context omitted.

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.

It competes with anyone selling point of sale hardware

No.

It allows sole proprietors, freelancers and the like to not have to get a Square reader to take credit card transactions. That's super convenient, especially for getting a deposit from a client, for example.

It also requires a newish iPhone (iPhone XS or later device), so there will still be plenty of iPhones out there that won't support this.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#652

Post by Nursie »

pedalpete wrote: post #562
sn1de wrote: post #448

Earlier quoted context omitted.

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.

This was my initial thinking, but then I think most businesses won't want to use a phone as their payment platform. My reasoning is that when I go into a business and I tap the Square terminal, I am assuming that terminal belongs to the business, because what individual would have their own square terminal. If the person who is ringing me up has an iPhone, and says "just tap this", there is a part of me that is wonde…

Square readers are dirt cheap, like $60 or less. If an employee wanted to defraud their workplace like that, it's no barrier. They'll be caught when the shop reconciles things.

Why would you need a special surround? And why is that an issue for you the consumer?

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#653

Post by Nursie »

lostcolony wrote: post #521
siver_john wrote: post #488

Earlier quoted context omitted.

Anyone who is going to be buying PoS from Square at a rate greater than just the phone attachment reader, this won't be sufficient for. Using a phone for a business you personally run is fine, using a phone as the central point of your business for even a relatively small fast casual is going to be a nightmare. And for those even on Square Apple's ipads are still the preferred choice as far as I can tell. So there is…

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.

> No store, mom and pop or otherwise, would want to be "tap to pay only" as a means of taking credit card payments

In the USA maybe. Elsewhere it's already huge.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#654

Post by Nursie »

vineyardmike wrote: post #642
girvo wrote: post #557

Earlier quoted context omitted.

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.

Yea... the Apple Card doesn't have RFID chips.

Why would it, you have your iPhone, right?

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#655

Post by oliyoung »

m348e912 wrote: post #340
sabjut wrote: post #14

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.

So basically apple is trying to move into square’s business model? What about chips and swiping? Will apple provide a solution for that?

Square's hardware business model, they'll just be a software company now

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#656

Post by alwillis »

lkbm wrote: post #407
sithadmin wrote: post #231

Earlier quoted context omitted.

American merchants doing low customer volume (e.g. small shop, cafe, restaurant) are usually locked into using something like a terminal from First Data (~$150-200 USD minimum for the most basic device) and something in the ballpark of 2.2% to 2.7% in fees for every transaction. People paying the lower rate are doing over $50k per month in transaction volume. Compare that to competitors in the space like Square, whic…

I suspect the real benefit is situations where the seller comes to you. A cafe can have an additional piece of equipment sitting on the counter for taking payments, but if you're a handyman or something, going to someone's house, being able to take payment on the spot using the phone already in your phone seems like a valuable convenience.

And wait until you can accept bitcoin payments without having to install a bitcoin wallet: https://9to5mac.com/2021/12/28/comment-tim-cook-said-apple-i....

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#657

Post by lostcolony »

Nursie wrote: post #653
lostcolony wrote: post #521

Earlier quoted context omitted.

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.

> No store, mom and pop or otherwise, would want to be "tap to pay only" as a means of taking credit card payments In the USA maybe. Elsewhere it's already huge.

Yep, my apologies for the US centric mindset in the comment; I can't speak to elsewhere.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#658

Post by alwillis »

ihuman wrote: post #561
aryamaan wrote: post #532

Earlier quoted context omitted.

I would love to pay websites by tapping my phone to my laptop.

Apple Wallet is already in macOS, but Apple Pay is only in Safari

There's no wallet on macOS; Safari does enable you to use Apple Pay on your Apple Watch or iPhone to pay for things on websites.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#659

Post by alwillis »

msoad wrote: post #258
tiffanyh wrote: post #86

This is the outcome of Apple's 2020 acquisition of Mobeewave. https://www.pymnts.com/apple/2020/apple-buys-mobeewave-for-1... It essentially turns an iOS device into a POS system. Apple already gets 15 bps for all Apple Pay transactions. I'm curious to hear the additional monetization Apple plans to get for this.

Not all iOS devices have NFC. This is an iPhone-only feature

iPhone XS or newer.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#660

Post by alwillis »

djrogers wrote: post #43
thebean11 wrote: post #13

Earlier quoted context omitted.

I don't think tap to pay can be skimmed in the same way you can with swiping. You'd have to actually clone the data on the NFC chip, which isn't possible through a tap from what I understand.

It’d be trivial for a rogue payment app to display one $ amount on the screen yet deduct another.

But thanks to the App Store, there won't be rogue apps that can be downloaded and installed. Not to mention, the developer would have to have operating system entitlements that are only available to paid-up developers in good standing with Apple.
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