Apple Pay

[one.of.a.kind]

Apple Pay turns iPhone into credit card.

"Apple Pay will be easier, safer, and available with every major credit card -- and at far more retailers than the competition."

http://money.cnn.com/2014/09/10/technology/security/apple-pay/index.html?hpt=hp_t1

 

[George The Curious]

I still trust my plastic and cash more. They don't suddenly stop working because of low battery.

 

[WinterHawk]

Won't work in Canada until the CBA, Visa, MC and Amex come on board. Then you have Rogers, Bell, Telus and Shaw to deal with too. Gonna be a while...

 

[onthebottom]

Won't work in Canada until the CBA, Visa, MC and Amex come on board. Then you have Rogers, Bell, Telus and Shaw to deal with too. Gonna be a while...

I wonder if this is true, would seem to be a big HW upgrade opportunity for the telecom companies, Visa, Amex and MasterCard are on board in the US, wouldn't seem that hard to extend to Canada.

 

[WinterHawk]

Canada is better prepared for NFC payments then the US as Canadians are in the top ranks for using debit cards. But Apple Pay won't go forward here without the Banks as they own the infrastructure via Interact.

 

[MRBJX]

Why should anyone trust APPLE? Their cloud is real secure...im sure they'll do nothing much to protect your info...besides you folks need to wise up, your data goes cross border read your licence to be raped by apple agreement.

 

[onthebottom]

Looks like Visa Europe will get on board:

http://www.visaeurope.com/en/newsroom/news/articles/2014/visa_apple_mobile_payments.aspx

I'd be shocked if this isn't the case in Canada by end of the year.

 

[TeasePlease]

I like using my phone to pay. (SBux, Timmies)

But

Air Miles?

 

[WinterHawk]

Looks like Visa Europe will get on board:

http://www.visaeurope.com/en/newsroom/news/articles/2014/visa_apple_mobile_payments.aspx

I'd be shocked if this isn't the case in Canada by end of the year.

I didn't say it won't happen, it's just that Apple has a lot of hurtles to jump before hand...

 

[onthebottom]

I didn't say it won't happen, it's just that Apple has a lot of hurtles to jump before hand...

I doubt it will take that long, the Banks will want to maintain their wallets but Visa/MC/Amex can easily subvert that.

 

[GameBoy27]

Apple Pay turns iPhone into credit card.

"Apple Pay will be easier, safer, and available with every major credit card -- and at far more retailers than the competition."

Of course this photo is a little misleading. Apple Pay won't work with the iPhone 4 or 5 unless you purchase an Apple Watch. I doubt many people are going to buy and wear the watch simply to use the Apple Pay feature. The other option is to buy an iPhone 6. How convenient, well for Apple any way.

 

[BlueLaser]

Of course this photo is a little misleading. Apple Pay won't work with the iPhone 4 or 5 unless you purchase an Apple Watch. I doubt many people are going to buy and wear the watch simply to use the Apple Pay feature. The other option is to buy an iPhone 6. How convenient, well for Apple any way.

And I don't get why people are so excited for this when the framework has already been in place for NFC payments for years and everyone is just waiting for places to get the hardware ready.

 

[onthebottom]

And I don't get why people are so excited for this when the framework has already been in place for NFC payments for years and everyone is just waiting for places to get the hardware ready.

Because it's been a framework. Google wallet was a failure, now the only alternative is bank specific apps - which is why NFC as a smartphone payments solution has been a disappointment. That will change pretty quickly.

 

[George The Curious]

Because it's been a framework. Google wallet was a failure, now the only alternative is bank specific apps - which is why NFC as a smartphone payments solution has been a disappointment. That will change pretty quickly.

So you are saying apple will succeed not because it's technically superior but because of business wise it managed to convince banks and cc companies to support apple platform?

 

[BlueLaser]

Because it's been a framework. Google wallet was a failure, now the only alternative is bank specific apps - which is why NFC as a smartphone payments solution has been a disappointment. That will change pretty quickly.

Google Wallet and the Microsoft Wallet both used the same framework. All that was missing is adoption in stores. If stores had the ability to use the NFC functionality of the phones, we could've been doing this for a while already. Given that Windows Phone + Android users outnumber Apple, why is the Apple solution so "innovative" and why are merchants poised to adopt this standard now instead of the one that catered to the larger number of users, and why are consumers so obsessed with this new system as opposed to the one that already existed? Because this one will be adopted and the others weren't? Takes me back to the first question, why wasn't it?

 

[onthebottom]

So you are saying apple will succeed not because it's technically superior but because of business wise it managed to convince banks and cc companies to support apple platform?

Yes, NFC is rudimentary technology, it's the business strategy that's been holding back NFC mobile smartphone payments - a wallet, two factor authentication (in this case thumb print) - I think Apple has nailed that with Visa/MC/Amex retailer and banks on board.

 

[George The Curious]

Google Wallet and the Microsoft Wallet both used the same framework. All that was missing is adoption in stores. If stores had the ability to use the NFC functionality of the phones, we could've been doing this for a while already. Given that Windows Phone + Android users outnumber Apple, why is the Apple solution so "innovative" and why are merchants poised to adopt this standard now instead of the one that catered to the larger number of users, and why are consumers so obsessed with this new system as opposed to the one that already existed? Because this one will be adopted and the others weren't? Takes me back to the first question, why wasn't it?

Like it or not apple users tend to spend more, even when they are outnumbered by android. Stupidity is a good word describing it. Merchants reward stupid spontaneous spenders.

 

[onthebottom]

Google Wallet and the Microsoft Wallet both used the same framework. All that was missing is adoption in stores. If stores had the ability to use the NFC functionality of the phones, we could've been doing this for a while already. Given that Windows Phone + Android users outnumber Apple, why is the Apple solution so "innovative" and why are merchants poised to adopt this standard now instead of the one that catered to the larger number of users, and why are consumers so obsessed with this new system as opposed to the one that already existed? Because this one will be adopted and the others weren't? Takes me back to the first question, why wasn't it?

This is a pretty good explanation:

http://www.slate.com/articles/techn...could_succeed_where_google_wallet_failed.html

 

[onthebottom]

Like it or not apple users tend to spend more, even when they are outnumbered by android. Stupidity is a good word describing it. Merchants reward stupid spontaneous spenders.

Yes, Apple users tent to spend much more...

http://www.cnn.com/2013/12/06/tech/mobile/ios-android-mobile-shopping/index.html

 

[WinterHawk]

One issue with NFC payments is security, how to make sure your credit or debit card information isn't copied at the terminal or by someone walking by with a reader. You don't want to be transmitting your credit or debit card information in the clear, so it's going to need some kind of encryption with a rotating, one time encrypted token being used.

Issues that will have to be addressed are how do you keep things in sync with your credit card company. The one advantage for Apple Pay is that it will work with Apple's Passport app, so you only have to create a virtual card once much like you can do with your PC Points card.

There really is no incentive for either merchants or the banks to underwrite this cash grab by Apple, not all merchants have NFC enabled terminals. Would all purchases require you to use a thumb print or PIN number to authorize a payment or will there be a minimum purchase before you have to authorize a payment?