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Apple in Talks With Credit Card Companies Over Payment Solution, Could Launch Mobile 'Wallet' This Fall
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Where the heck do you shop? I get asked almost every time I use my credit cards (in person). I'd say 80 to 90% of the time.
I don't know, but I know my mom's credit card number was stolen because a (stupid) website got hacked and must have been storing the credit card numbers in plain text. The more databases you have your credit card number in, the more chances of it being stolen.
Wow, that's not even a joke. That is just horrible. PayPal has to be one of the worst companies ever, and eBay isn't far behind these days. I won't go into that, but let's just say that they have no respect (either) for businesses or sellers. Apple should buy PayPal to kill it dead. That's about it.
I'm not entirely aware of the the ins and outs of the secure enclave architecture, but if I understand it correctly, it seems this could reduce these kinds of attacks dramatically? I know there was a lot of talk after Target and a lot of talk before - going back a decade or more - about how insecure the actual *technology* behind credit cards was/is.
Could they incorporate secure enclave tech in their data centers?
Regarding the next big thing....I think so too. I also think this incorporated into the iWatch/iTime device would be KILLER.
If the iWatch has a secure enclave and finger scanner, couldn't it handle this all on its own and auto-trigger this behavior as a fallback when it no longer senses an iPhone or iPad? Meaning if your iPhone is dead, you could still make purchases without running home to grab your wallet if your iWatch is still alive.
Where does this happen? It has to be years since I have had to pay through something else than a portable/fixed chip card reader...
Wow you are the first person I've ever heard that thinks PayPass, and whatever Visa's name for the tech is (ie. tapping your card), is more secure than Chip + PIN! Neither are perfect as the terminals can be nefariously modified and the servers/databases can be hacked, but PayPass is far less secure.
Another point- I think some of the US posters here aren't very aware of Chip + PIN, based on all the responses about businesses taking your card and coming back with a slip for you to sign. Its ubiquitous in Europe/UK, Australia and Canada. Not sure about Asia, South America, the Middle East and Africa, though.
And to the guy talking about your car running out of gas vs smartphones running out of battery juice, I'm pretty sure more smarthphones die than cars run out of gas on a daily basis. Not that it matters. What it comes down to is that you'll still need to carry your card around. Credit cards have amazing battery life.
go out to dinner?
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I was exaggerating... what I was trying to say was there are numerous things that can go wrong on the way out to purchase something. Saying this will never work with a phone because it might run out of juice is silly.
Zipa's point, I believe, is that in many countries, excluding the US, almost all restaurants have portable terminals that they bring to your table and you insert your chip card, enter your PIN and accept the payment. If they don't have portable terminals you go up to the register and pay. The card doesnt leave your posession. Many Americans have no idea of this or how common it is elsewhere, and I've never understood why chips aren't used in the US considering the incredible amount of CC fraud there.
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Is anyone even saying it won't work on a phone? They're saying it'll never be a complete replacement.
With my easy earned money, i'm okay with a little bit of bitcoin.
I took the plunge into bitcoin not too long ago after my curiosity got the best of me- it was actually a post by someone on this site with a link to a bitcoin faucet that put me past the tipping point- and I gotta say, after experiencing bitcoin firsthand and getting a better understanding of how it works, reading this story made me think to myself, "That's a really fast horse Apple is working on".
Yes. Daily. Well, for lunch, but still.
When I'm done eating, waiter brings over the check, I stick the card in the terminal, enter PIN, get receipt, leave.
This is completely not true.chip+PIN is a joke anyway. The PIN is stored ON the card! They're doing you a favor by still wanting a signature.
If you have any doubts about my claim, Google it. I also tried some experiments of my own, but the final nail(s) in the coffin were I received a new card from Amazon (couldn't resist the free $15 credit
I also noticed as soon as I press 'ok' after entering my PIN, it immediately says "PIN OK", but takes a while for it to come back with an approved transaction.
Kind of scary, seeing as I've heard in Europe people were able to have a fake card with a chip on a cable that ran up their sleeve to a device that says "Yup, this random PIN this guy just entered is good!".
The PIN is stored on the card encrypted. No way that anyone can read the PIN in your card. That's impossible. It is possible to verify the PIN offline (this is what you mean), but after 3 false attempts the card blocks itself. So good luck brute forcing a PIN.
Chip + PIN is not a joke, it is very secure and has been a proven to be for many years now.
I'm all for a payment solution, but I would love it if Apple would quit putting an "i" in front of everything and not call it 'iWallet' . For a while now companies have been jumping on that bandwagon with iProducts and frankly the branding doesn't mean anything anymore.
As far as I am aware yes. Every time you pay for anything with a plastic card the car company gets some money.
I believe the UK government a few years ago finally made it legal for UK shops to advertise one price for Cash and another price for credit cards, but I don't think any stores actually took up the offer and actually did that.
I have myself gone into stores when buying something large and asked how much for cash as I have the cash on me now, if they so no discount for cash then I'll get my credit card out and pay by card as the shop will then lose some of the sale price to the card company.
You may have been doing something similar to what the article says, in terms of paying for things with your Google Wallet.
But I doubt you've got a secure area of your phone like the enclave to store sensitive data like fingerprints and financial information. And I doubt you've been authorising you payments with your fingerprint. Especially not all this for several years.
A lot of people overlook the implementation of things. It's one of the reason Apple things sell well.
Theoretically I suppose. It would be cool. But with all the other tech already rumored to be packed into the "iWatch," the mythical beast is starting to seem a little pudgy. We also don't know if the device is going to be a stand-alone or an iPhone accessory. Will it have its own brain or will it be a "dumb terminal"?
Why do you doubt that? "Secure Enclave", which is Apple marketing speak for ARM TrustZone, has been around since ARMv6, if I'm not mistaken.
Exactly. Buy Square. Integrating Square wallet and making it more secure is the way to go. Unless of course has an even better idea. But I like square and use it all the time.
A place called Chili's, and other have them too. You can also play games on them for a price.
http://www.kurtkrake.com/2012/01/mobile-tablet-at-chilis-restaurant-tables.html
The company that makes them
http://ziosk.com