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Apple in Talks With Credit Card Companies Over Payment Solution, Could Launch Mobile 'Wallet' This Fall
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People will quite happily hand over their card to a complete stranger serving in a shop, who can then skim it. Revealing their card number, 3 digit code on the read and signature.
But offer people a more secure way of carrying out their transactions, that involve a fingerprint and they go crazy.
It cannot come quickly enough for me. Now I just need to find way to keep my thumbs more secure.
But offer people a more secure way of carrying out their transactions, that involve a fingerprint and they go crazy.
It cannot come quickly enough for me. Now I just need to find way to keep my thumbs more secure.
Because I haven't seen anything on the market (from any hardware manufacturer on any OS) which combines a secure area, fingerprint authorisation and payment system all combined in a neat package.
Best example for me is the first iPhone, it did nothing we hadn't seen before. But the way if brought together lots of different technologies and ideas that we'd seen on numerous other products into one tight little package was brilliant.
I don't really care if it's Apple, Google, Samsung, Microsoft, whoever. But I really like the idea of a nice streamlined payments solution. Whilst things like Google Wallet exist I don't think we've seen a truly great solution yet. Hopefully someone figures it out and everyone can follow their lead making purchasing things easier, faster and safer for all smartphone users over existing widely accepted methods (namely credit/debit cards secured with a signature or 4 digit pin).
If they can figure out a way to pay a merchant over the phone also. I cringe when Im asked for my credit card number AND 3 digit code!
Also, besides getting your card info stolen (which most creditors will reimburse you for any loss), identity theft is a huge problem. You become a victim of that, you are screwed for a long time.
A lot of other places have then too now. That one just popped in my head because I got coupons from them recently. The one bar I use to go too also has them as well for over a year now.
That problem isn't solved by bringing a portable reader to your table. I'm not familiar with the technology and can't recognize legitimate ones on sight, can you?
Skimmers are in essence man in the middle attacks. An iPhone solution would prevent them, because a merchant doesn't need your credit card number. All he needs is a one-time authorization code, which can be acquired out of band directly from your mobile payment provider.
Writing down your card number? Aw that is so cute. You realize no one does that anymore right? They need just a second to pass the card through a device to copy all the information they need off that magnetic strip. If they are good you wouldn't even see them do it as they are handing it back to you.
The 'digital wallet' is the next big thing that will change how people buy and sell things. I will be the first person happy to rid myself of a physical wallet.
Rumors already point to Paypal supporting TouchId in IOS 8/iPhone 6.
Thus the competition for transaction $$ will begin.
Rumors already point to Paypal supporting TouchId in IOS 8/iPhone 6.
Thus the competition for transaction $$ will begin.