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A Comprehensive Outline of the Security Behind Apple Pay
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From my understanding the watch will enable Apple Pay for any connected phone. IE older ones too.
Excited
I'm actually pretty excited about this.
Sadly, we in the US have been left far behind by the chip and PIN model adopted in over 80 countries and in use for more than a decade in many.
When I travel to the UK, people there look at my magnetic strip cards from America like I just stepped out of a 1980s time machine, and shake their heads.
Even the cards in the US that are starting to get chips are just a poor copy of what the rest of the world is using. Our chip cards are "chip and signature" which is just a cop out.
With this push though, Apple stands to drive the next generation of more advanced payment options, since there are certain banking regulations forcing changes in 2015.
If they can grab some big retailers (and they already have quite a few) this could be huge. Maybe we can finally have a comprehensive payment system that is far more secure that the terrible and obsolete system we have now.
I'm actually pretty excited about this.
Sadly, we in the US have been left far behind by the chip and PIN model adopted in over 80 countries and in use for more than a decade in many.
When I travel to the UK, people there look at my magnetic strip cards from America like I just stepped out of a 1980s time machine, and shake their heads.
Even the cards in the US that are starting to get chips are just a poor copy of what the rest of the world is using. Our chip cards are "chip and signature" which is just a cop out.
With this push though, Apple stands to drive the next generation of more advanced payment options, since there are certain banking regulations forcing changes in 2015.
If they can grab some big retailers (and they already have quite a few) this could be huge. Maybe we can finally have a comprehensive payment system that is far more secure that the terrible and obsolete system we have now.
I'm in.
Carefully reading the original article link on tuaw.com made me understand how this whole
Pay works. Good stuff. Cant' wait to use it. It's been a long time coming!
Carefully reading the original article link on tuaw.com made me understand how this whole
Pay works. Good stuff. Cant' wait to use it. It's been a long time coming!Not to deny your comment, but could you please provide a reference? The way I read Visa's reference, it is more recent than chip cards.
But if there's evidence to the contrary then I'll gladly accept it.
What i would like to know is what are Apple's plans for the rest of the modern world? There are countries out there that have contactless payments for credit cards in place for quite a while now. Whats the hold up on allowing Apple pay there? e.g Personally, I'm talking about Canada.
Come one Apple bring Apple pay here. Its the only reason why ill go back to Iphones..
Come one Apple bring Apple pay here. Its the only reason why ill go back to Iphones..
That's been my impression as well, but so far I haven't seen anything definite on it. Well, since I won't be getting a 6 this year in any case, I'll just hope that's true and look forward to the watch coming out next year.
The framework is different. The actors differ slightly. The security methodology is not. I could link you references, but the good documents are behind paywalls I'm afraid.
I am still unclear how Apple pay will work.. Will Apple strictly disallow the feature to be enabled on non US iphones?
Or the setting will be there but simply wont accept non US bank credit card?
I NFC payment system didnt reply so much negotiations between banks, carriers etc... its the main reason why it never took off here in Canada even though feature was on most Android phones for ever.. But greedy cell phone carriers and "strict" banking regulation prevented it.
Or the setting will be there but simply wont accept non US bank credit card?
I NFC payment system didnt reply so much negotiations between banks, carriers etc... its the main reason why it never took off here in Canada even though feature was on most Android phones for ever.. But greedy cell phone carriers and "strict" banking regulation prevented it.
Agreed. This won't replace cash anymore than credit cards have. As for being a cashless society already, I probably use cash at most once per month. I can basically count the number of times I use cash per year using both hands.
Canadian banks and payment processor networks.
Until they embrace and implement the EMV tokenization technology that
pay is using, you won't be able to use it.
Well, in a way it does. For me, credit cards/bank cards already replaced cash. So this is just an extension of that. I never use cash. Ever. Deposit my checks into the bank each week. Never see the cash. Cards are so much easier. This is going to be EVEN easier than cards. Can't wait.
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I'd like to see clarification that the
A single pin number isn't secure enough to give free access to 'all' your cards.
Pretty sure you can replace the pin with an actual password.
In the UK we've had contactless payment via our bank account cards for a few years now.
I rarely ever carry cash, every shop, self service machine or restaurant has a card machine.
The only time I have to go to an ATM to withdraw cash is either to pay for a taxi or... or... nope I nearly always use my card!
Until they embrace and implement the EMV tokenization technology that
Are you serious? Canada is lightyears ahead of the US in that department.
Do you mean physically hacking off a finger or hacking off a finger or hacking off a finger..?
No, a merchant doesn't have to sign up for
If a merchant supports contactless card payments (PayWave, ExpressPay, PayPass), they can accept payments from your iPhone 6.
Well, I'm skeptical. Were this the case, why would Apple have gone to all the effort to "sign up" Macy's, McDonalds, Panera and the others ?? It could just have said that Visa and MasterCard were signed up and everyone else came along for free.
But Apple did not say that. Maybe I missed something ?? I am under the impression that merchants do need some updated software in their own back office systems. But I may be wrong here.
p.s. I fully agree about the need to replace terminals before Oct 2015, and the impact of EMV terminals
This is one of the big reasons I decided to purchase the 6 even though I was very happy with the 5s. I love using square but have been concerned about the security, and PayPal want to debit my bank. I am really looking forward to Apple Pay. Hope it takes off well.