81–90 of 125 posts
Must be an American thing, I guess. Is EFTPOS (ie debit card) less common in the US than in Australia? Seems odd to provide a credit card service by itself. People don't pay for coffee and things on credit, do they?
Must be an American thing, I guess. Is EFTPOS (ie debit card) less common in the US than in Australia? Seems odd to provide a credit card service by itself. People don't pay for coffee and things on credit, do they?
Also, the large majority of banks offer Mastercard/Visa debit cards where even though you press 'Credit', its your money from your Savings account. You get the benefit of more consumer protection via Mastercard/Visa, as well as contactless payment and sometimes not having to sign or enter PIN
The app is downloaded via the App Store - according to the terms of the app store, aren't Apple entitled to claim 30% of transactions through the app? edit: Or, at the very least, entitled to 30% of the fees charged by Square to the merchant?
Although the immediate parent is being downvoted, it's actually interesting to understand why Apple have allowed this without collecting a % of the transaction fees that Square receives. Or perhaps they are collecting a (lower?) percentage.
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Thanks. In europe we use chip and pin, so a fake app could collect the pin directly. If someone was to harvest 30 cards with pin, could they then visit an atm directly? Perhaps I'm underestimating the difficulty of cloning cards. If that is possible, CVV2 would be unnecessary. I hear your point about normal credit card terminals being available. As a european I wouldn't expect to see one on a stall by the side of a r…
And that's why you need a separate terminal to enter your PIN (at least here in the UK, although I'm fairly sure that also applied in Europe), and the PIN number is never transmitted to the actual POS application, just a token indicating success or failure.
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How is this any different than a traditional POS? The only exceptions would be cash registers with pole displays, which are limited to big box retailers that can afford them.
Not sure about where you're at, but it's a rarity to come across a register that doesn't have a customer facing display, with at the very least, the total you are being charged for your goods and/or services.
Must be an American thing, I guess. Is EFTPOS (ie debit card) less common in the US than in Australia? Seems odd to provide a credit card service by itself. People don't pay for coffee and things on credit, do they?
I can't actually remember the last time I swiped my card and signed for anything, because we in the U.K., like most of Europe, use Chip and Pin (EMV is the official name). I wonder if Square will still function when this gets pushed into the U.S. market. Surely this is due soon in the U.S.? http://corporate.visa.com/media-center/press-releases/press1...
No other startup has ever been so primed for an Apple acquisition. Everything from execution, design sensibility, culture and even CEO is heavily Apple inspired but in a different but still complementary industry.
Earlier quoted context omitted.
> What's to stop someone ... writing off a days worth of cheap merchandise down at the park for a haul of card details? The fact that stolen credit card numbers, even with a full billing address and CVV2 code are still only worth a couple dollars on the black market. Your setup wouldn't even capture that, so your merchandise is probably worth more than the numbers. And you're putting yourself at pretty serious risk o…
Thanks. In europe we use chip and pin, so a fake app could collect the pin directly. If someone was to harvest 30 cards with pin, could they then visit an atm directly? Perhaps I'm underestimating the difficulty of cloning cards. If that is possible, CVV2 would be unnecessary. I hear your point about normal credit card terminals being available. As a european I wouldn't expect to see one on a stall by the side of a r…
I don't know how the bank cards work, but here in Portugal we now have a citizen's ID card that looks much like a bank card and can actually do cryptographic operations itself - it has a private RSA key that it can use to sign and encrypt data by request of the card reader. It's essentially impossible to clone the card, at least without breaking it.
EDIT: According to this article[1], PIN-and-chip bank cards are similar to what I'm describing.
[1]: http://www.creditcards.com/credit-card-news/outdated-smart-c...
I can't actually remember the last time I swiped my card and signed for anything, because we in the U.K., like most of Europe, use Chip and Pin (EMV is the official name). I wonder if Square will still function when this gets pushed into the U.S. market. Surely this is due soon in the U.S.? http://corporate.visa.com/media-center/press-releases/press1...
Square will be in trouble if NFC takes off. That is why its coming up with what I think is its main product line, the register. The credit card reader thingy is not where it makes money. Once prople get hooked on the analytics it can hope to add the NFC functionality in and still keep going.