Limited to 25 dollars? Maybe with a student card but typical cards have a 50 dollar limit for tap paying and "black" cards have a limit of 100. I am not sure you should be bragging about a possible security flaw in the American implementation if you have no limit on payPass. The limits are not a technical limitation but rather for consumer fraud protection.
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TD Bank to Soft Launch Apple Pay on December 16, Full Launch Coming Mid-January
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Ok but this article says no. Apparently there's no incentive for the banks to get onboard.
http://www.itbusiness.ca/news/2015-predictions-apple-pay-will-stay-out-of-canada/52535
Nope. This is simply a requirement of how ApplePay shines. The whole "one time use number" requires bank support. This really is a feature.
It's not so much rolling int the retailers to be "on board" most NFC retailers do accept Apple Pay; it's more of a marketing ploy of whether or not they advertise it. Most companies aren't budgeting that kind of thing, while on the flip side some companies (with CurrentC = doomed to fail) are marketing against and preventing it.
The two systems are not equivalent in security. Would you want your full card information stored on a Google server?
I know that, and I never said that Google Wallet has the same security measures as Apple Pay. I'm talking about some conveniences that Google Wallet has over Apple Pay. The concept of convenience vs security is an important one that should be addressed on a holistic level. Still, you can't argue that Google Wallet in general "just works" (lol) with any credit or debit card (i'm sure there are rare exceptions), while Apple Pay requires the issuing bank to actively support it.
In regards to storing cc number on Google's server... Well, i have direct deposits at my work, automatic payments on Tmobile and Verizon, a monthly subscription at Audible...you get the point. Sometimes you just can't avoid it all..you gotta pick your fights.
Question for Canadians
I am a heavy user of Apple Pay in the States. I love it and I love the security especially. I almost exclusively shop at retailers who support Apple Pay and I hunt down retailers who do. But for many US citizens the security is not a big deal for them because they are covered by the fraud protection. Of course, that is indirectly passed on through higher rates and higher merchant fees. But the cost is not direct. So they swipe away.
In October of 2015 the liability shift in the US is supposed to happen where the liability shift is supposed to transfer from the bank/card issuers to the merchants. This will necessitate adoption of new POS terminals and better coverage of NFC. Although most small businesses that I patronize and I talk to know nothing of this.
The lack of pain points for credit cards also applies to Chip and Pin. Who wants to memorize a PIN if you can just swipe. Esp
In the land of Chip and Pin and NFC, is the consumer more directly at fault for fraud or is it the merchant or is it a combination? The merchant fees are less for credit card processing but who pays for fraud.
And who do the credit card companies make the consumer part of the fraud equation. Thanks for any edification.
I am a heavy user of Apple Pay in the States. I love it and I love the security especially. I almost exclusively shop at retailers who support Apple Pay and I hunt down retailers who do. But for many US citizens the security is not a big deal for them because they are covered by the fraud protection. Of course, that is indirectly passed on through higher rates and higher merchant fees. But the cost is not direct. So they swipe away.
In October of 2015 the liability shift in the US is supposed to happen where the liability shift is supposed to transfer from the bank/card issuers to the merchants. This will necessitate adoption of new POS terminals and better coverage of NFC. Although most small businesses that I patronize and I talk to know nothing of this.
The lack of pain points for credit cards also applies to Chip and Pin. Who wants to memorize a PIN if you can just swipe. Esp
In the land of Chip and Pin and NFC, is the consumer more directly at fault for fraud or is it the merchant or is it a combination? The merchant fees are less for credit card processing but who pays for fraud.
And who do the credit card companies make the consumer part of the fraud equation. Thanks for any edification.
That's only at the merchant side. The virtual card still ultimately charges a real card, for which we get reward points for the amount.
Some card banks do not get the merchant name, though, which means we might miss out on any extra merchant specific rewards.
OTOH, sometimes that can help, as it can avoid carve-outs where certain merchants do not get awards. E.g. Citibank does not usually give awards for purchases at Walmart / Target, but with Google Wallet being the proxy merchant, they would not know to hold the award back.
There's no magic involved. Our real card info is stored in a token vault somewhere in both cases, whether it's run by Google or the CC bank.
Since neither the banks nor Google have been hacked, it's not a worry to me. Heck, they're probably both using a third party token service... maybe even the same one... such as First Data.
If I was to worry about something, it'd be that Mint and Paypal have far more important account info stored away!
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The incentive should merely be that it's easier for me to make purchases.
I have a wallet and a phone right now. When I'm out with just my phone, I can't make purchases. I do this all the time, like when I'm going cycling. I make a mental note not to buy anything, and for the whole time I'm riding until I get home, I don't bother walking in anywhere, even if halfway through my ride I decide I want something. ApplePay would definitely make it easier for me to change my mind part way through. That's money that I'm spending on my credit card, so that's money for the bank.
The other incentive is first-mover advantage. If TD is first on the market, there are people that will switch to TD to take advantage of it. When you've got basically no banking competition, differentiating yourself is hard. Quite a lot of people stick with the bank that their parents' used. Getting people to switch is tough.
TD is notoriously behind in technology. Their banking app in Canada is by far the worst piece of crap of any bank. They're also trying to push their own mobile payment system. I doubt that they'll be at the forefront of ApplePay.
Given previous experience, I'd expect CIBC to get there first. However, I joked with the manager of my bank who I have a good relationship that I'd be leaving him if Scotiabank isn't the first to come out with ApplePay. He joked back that "in that case, you'll be banking with us for a long while". I don't know if he meant that Scotiabank would be getting ApplePay first or if the service wouldn't be coming to Canada in a long time, period.
Given previous experience, I'd expect CIBC to get there first. However, I joked with the manager of my bank who I have a good relationship that I'd be leaving him if Scotiabank isn't the first to come out with ApplePay. He joked back that "in that case, you'll be banking with us for a long while". I don't know if he meant that Scotiabank would be getting ApplePay first or if the service wouldn't be coming to Canada in a long time, period.
Apple Pay Works Well in Australia - But Not at Apple Store
Australia probably has a higher density of NFC "pay wave" terminals already installed than U S - used with chip and pin credit cards here.
These work perfectly at stores and even vending machines everywhere. I LOVE IT. Of course you have to have a US credit card and set "region" in Settings to United States.
Sad that since Apple Stores here do not have NFC technology, you cannot use APPLE PAY at an APPLE STORE.
Australia probably has a higher density of NFC "pay wave" terminals already installed than U S - used with chip and pin credit cards here.
These work perfectly at stores and even vending machines everywhere. I LOVE IT. Of course you have to have a US credit card and set "region" in Settings to United States.
Sad that since Apple Stores here do not have NFC technology, you cannot use APPLE PAY at an APPLE STORE.
I bank at a small midwestern bank and they have notified us that they will be supporting ApplePay soon. I only use my bank card to get cash out of an atm so I'm not that excited but it's cool they are getting on board.
I tried to add my TD Bank Visa debit card this morning and it got to the user agreement page, I clicked Agree, then it errors out. This was around 6:30AM Eastern Time. I tried again at 7:45AM and it says that my bank does not support Apple Pay, maybe it won't start working until 10AM or 1PM today.
I just tried and it added my TD Visa credit card but then when I call the number to verify its just a prerecorded message about mobile wallets coming soon then disconnects. Will try again later.
Did you have to call a number to activate? I tried and the person had no idea how to activate it???
Just got a push notification saying my card was ready to activate so I called the number and this time it went through, verified my info then the rep said it was activated. When I went back to passbook it is now showing as activated. Looking forward to using Apple Pay finally!
Edit: Above is for my TD Credit card. Trying to add my debit card and I get the terms and conditions screen, I accept but then get the Invalid Card message - "Check the information on your card and try again". The info is exactly how it is on my card.