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Apple Announces 'Apple Pay' Mobile Payment Solution, Enabled at Over 220,000 U.S. Merchants
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Because Apple didn't sort out a deal with Discover, of course.
That's the huge difference between this and Google Wallet. THIS is like the old-school Google Wallet of 2012. Participating cards only, stored in the secure element (QUIT SAYING SECURE ENCLAVE THAT IS DIFFERENT) on the phone. Looks like this might use tokenisation as well, but I didn't see that mentioned. Still, this is old-school. Cards physically being stored by participating banks. Same as ISIS (SoftCard).
Google Wallet is different. Google Wallet acts as a merchant aggregator and provides a cloud-based, host card emulation solution. It's much more technologically advanced in many ways.
It also, necessarily, has to operate at a loss (Google loses the processing spread the networks and participating virtual card provider bank takes). Google Wallet isn't heavily promoted because it's more an experiment than it is a viable business. They learn some info and have something to show off - and it provides great marketing data. But it loses money by design. Something both Apple Pay and ISIS/SoftCard do not.
Copyright isn't a problem for Pandora, Spotify.... and the countless other streaming services available outside the US that iTunes Radio mimics.
Apple did it correctly with getting deals with major credit card companies to waive fees. It was the fees merchants were getting socked with that made NFC not take off properly in the US.
Guttered this isn't coming to the UK any time soon, but honestly, doesn't surprise me seeing as features promoted with the 5S launch still haven't materialised
Features? iTunes Radio is one. What else did they not bring?
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This.
Also Apple Pay wont have a limit for the contactless payment (£20 in UK).
So the new iOS has payment abilities to store my credit cards but it sounds like that is for when I'm physically at a store. 99% of my 'shopping' does not involve going to a physical location but is over the web via my laptop computer or in a few cases over my landline phone. There is no cellphone service around here. I never shop via my iOS device. I very rarely shop in person. I would rather just give my credit card number to the sales person over the phone or web. I've almost never had a problem with fraud and in the extremely few cases the credit card company took care of the issue. That's what you pay the fees for.
Any source for that "Apple waiving fees and Google not"?
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Google also don't have a limit. Do you people really know what are you talking about?
Just an update, Apple is NOT using tokenisation from their own page - http://www.apple.com/apple-pay/ - they are using a virtual account number, just like Google, though with bank participation. What makes no sense is how this can work WITHOUT Apple knowing what you purchase. Who holds these virtual account numbers? Apple isn't making something clear.
P.S. if you look closely it says Apple doesn't SAVE details of your transactions. So it sounds like they are providing virtual accounts, just offering a better privacy policy than Google. In which case - who cares? And the only reason for using the secure element instead of HCE then is so transactions can occur without a data connection (Google Wallet needs a data connection in its current iteration).
P.S. if you look closely it says Apple doesn't SAVE details of your transactions. So it sounds like they are providing virtual accounts, just offering a better privacy policy than Google. In which case - who cares? And the only reason for using the secure element instead of HCE then is so transactions can occur without a data connection (Google Wallet needs a data connection in its current iteration).
No they don't but "Apple did it FURST!"
It is like that Simpsons episode of Southpark.
"And when you make a purchase, the Device Account Number alongside a transaction-specific dynamic security code is used to process your payment. "
Doesn't that means that they are using tokenization?
this is the most important feature announced today - i hope apple doesn't make NFC payments proprietary as in the registers don't work with non-apple NFC.
Finally we can all hope NFC payments will jump start in the US.
BTW, google wallet has been doing this with PIN for a long time now. You can do this with most 4.3+ android phones that support SE SIM's as well. Sure it's not built in but it's the same concept sans fingerprint ID.
Finally we can all hope NFC payments will jump start in the US.
BTW, google wallet has been doing this with PIN for a long time now. You can do this with most 4.3+ android phones that support SE SIM's as well. Sure it's not built in but it's the same concept sans fingerprint ID.
This is pretty unexciting - much like the rest of the announcements today.
NFC payments have existed elsewhere in the world for several years. This is an evolution from chip and pin - which the US never implement on credit cards.
In essence, Apple is now a bank. Give them all of your money. Done.
NFC payments have existed elsewhere in the world for several years. This is an evolution from chip and pin - which the US never implement on credit cards.
In essence, Apple is now a bank. Give them all of your money. Done.
Yes there is, it also just said in the stream 220,000 payment places with NFC already in the USA, Apple are adding to it. For some reason (I will guess because your banks have been stingy) the USA don't seem to have NFC enabled bank cards so it isn't that popular (step in Apple).
Here in Canada NFC contactless payments has been in most of the shops for the past 1-2 years. I can use my bank card and tap (as most people do), or use Google Wallet on my phone (nobody does that), or use my banks Android app and tap (pay from my bank account, oh just like Apple saying they have the USA banks enrolled).
See the "Mobile Payment" here as an example: http://www.tdcanadatrust.com/produc...anking+App+-+BMM:+td++pay++mobile:p4850898423
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I would imagine the virtual card number works the same as the virtual numbers that some banks issue today, for example Bank of America's "ShopSafe" feature. The virtual numbers are linked to your "real" credit card account and are processed directly by the bank. So there is no need for Apple to get involved in the transaction.
As for the "dynamic security code", it's probably a one-time code that is generated uniquely for each transaction, instead of using the static CVV/CV2 (the 3-digit code from the back of your card) that is used in online credit card transactions.
I think privacy is really the strongest feature of Apple Pay. No additional tracking by a middleman like in Google Wallet, and the virtual card numbers apparently don't have your real name attached to them, which would also make it harder for merchants to link purchases to a personal profile they might already have for tracking purposes.
No, that is a standard feature of EMV and even contactless magnetic stripe data. For contactless MSD it works by rotating the presented CVV. It is not tokenisation.
Do you know more detail about this? According to Wikipedia, the chip in MSD cards "cryptographically generates a code which can be verified by the card issuer's systems". Sounds to me like it uses an algorithm similar to TOTP etc.
I'd imagine Apple Pay does exactly the same: When you first set up a card in Passbook, the bank generates the virtual card number and a seed for the OTP-algorithm, which are then stored in the "Secure Element" on the phone. When paying, an OTP is generated by the Passbook app and sent to the POS via NFC along with the virtual card number. The bank can then recalculate the OTP using the same seed and verify it against the account.
So why is it US only? Presumably we won't see this in the rest of the world for months or even years, by which time Google and Samsung will almost certainly have rolled out their products globally. Apple always seems to be playing catchup these days.
Apple Pay will work just in USA when it will launch.
So, again, what "globally" are you talking about?
Apple Announces 'Apple Pay' Mobile Payment Solution, Enabled at Over 220,000 ...
They never claimed that. You are inventing things.
Replace the amex/visa/mc mag-stripe card only.
They never claimed that. You are inventing things.
Replace the amex/visa/mc mag-stripe card only.