Opening up apples ecosystem will imo give enterprising criminals more ways and means to do their dirty deeds.
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Apple Offers to Open NFC Payment Technology to Third-Party Developers in Europe
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Considering how the EU finds the iPhone r. “Dominant” platform could mean enterprising criminals find ways to skirt security measures and get bigger payoffs for criminal activity.
What could "criminals" do with third-party app installation support that they can't do with regular, 7-day installation support?
Do you actually have anything to back that up? Considering my evidence shows EU have cut their fraud rate in half while the U.S. have grown.
It's never for the common man. There are multiple companies who take care of electronic payments (online and/or terminals) for merchants, all sitting between customer and banks. All of them want a piece of the pie, and so all charge an amount with each transaction. Banks have to support all of them and thus add some more to the bill we endusers have to pay. In the end it will only cost us more. Opening up the NFC inside the iPhone to other companies will only make it more expensive over time and possibly less safe.
Actually it’s the other way around: opening the NFC will lead many banks to opt out of the big tech’s mobile wallets, thus eliminating one of the men in the middle: the tech company such as apple and/or google.
Nope, the likelihood is they will be able to cutout the card networks who actually takes a large piece of the pie.
Imagine Mastercard, VISA, American Express etc no longer being able to take their 3-5% fee. That’s potatoes compared to the mobile wallets fee of 0.15% that Apple Pay takes.
No. Physical cards will still exist and so the networks will still get their piece of the pie. It won’t be as easy as cutting out the networks just by pulling out of google pay, apple pay, etc.
I think you got this part wrong. Banks don’t have to support them all. Instead all those little merchants companies have to support the banks or more exact use the same basics protocols.
It is surprising still very competitive in the merchant accounts and it is fairly common to see a merchant change their vendor to someone cheaper.
Banks cut doesn’t change but the merchant account fees do so it is how much of a cut do they take and that is the tax we all pay.
If anything limiting Apple was doing was driving up the cost as it reduced the players and forced everyone to pay the Apple tax.
So no other way around. Banks don’t support them all they tell the merchants here is protocols you comply and offer limited if any help.
That is super cute you think Apple is really providing any privacy from the banks. The banks still know where you shop, still know how much you spend and where.
Merchants same answer on that. They get all the info from the card to a single person.
Apple Pay vs normal credit card zero privacy difference.
Super cute you don’t see the benefits of Apple Pay over an app. Obviously the card issuer knows who you are, but the vendor doesn’t have your card details. And sure the vendors can go after the fact and maybe collect information or not, but they are not directly reading the credit/debit card.
So it’s harder to submit a fake transaction.
Don’t say that, there multiple networks in the works that doesn’t use the card networks. EU banks are in the process of having a single network owned by the banks that would remove the need of VISA or MASTERCARD etc in all virtual payments.
Instead of different national systems independent from each other. If all the Banks could use let’s say Swish, and the app could use NFC then the card networks wouldn’t be needed.
This makes no sense at all.
Apple themself is one of the intermediaries that wants its share of the pie. The biggest reason why European payment services providers lobbied to open up NFC access is exactly this: to cut out the middleman (Apple) and its fees. If anything, it will cost consumers less.
Cutting out an additional middleman per se improves privacy - since less information is shared with that middleman. That said…
Apple Pay’s tokenisation indeed does improve privacy between you and the merchant/its PSP, since they can’t track you and your transactions as easily as they can otherwise.
There is, I believe, nothing that would prevent payment service providers from releasing a similar system with similar privacy safeguards. But I’d remain skeptical that someone actually will do it.
That said I trust apple more than the stores I shop at. Eliminating a trusted middleman from a business who would like to make a buck with your PII…
Yeah just going to down this path. Apple pay vs a 3rd party doing it with the CC companies threw an App. Same security would be setup. The security is from the CC NFC protocols and requirements. They will only accept something threw those system that follow their rules which will be the same as low and behold Apple pay. No extra security there.
Plus this was on privacy which par normal for the course when you get caught you move the goal post. For the most part I do write you off as just an Apple fanboy and you will stretch items or block any under rules.
In this case NOT THE SAME THING you move goal post.
Apple Pay tokenisation is security related but zero privacy related. That tokenisation is roughly the same as the NFC on your credit cards use. It is a single use token made up between the phone/card, reader and the network. You need all parts to get anything useful.
We are back privacy vs Apple pay is such a MINOR and I mean MINOR step difference it might as well not be there. They have all the parts to link it all together. This is why if you go to any reader with your Apple Pay same merchant they already linked all your data together. Goes even crazier is you can swap cards and they still can do it. As long as you are using the same issuer all linked up.
So saying privacy is the argument is just a false.
Security vs NFC on your card the only gain is at least it has to use your faceID or pin but that could easily be added to all credit cards but that is a different matter.
And we are back to the fact that THEY HAVE ALL THAT INFO when you use apple pay. Stop repeating that same lie over and over again.
But thank you for proving that your average person buys Apple lies on the privacy on that part. I do give apple credit on their marketing team.
If you believe it’s a lie you can submit a citation and I will gladly retract my statement.
I see what you mean. Still, I don't like what the EU did here. I'd rather would like them to take it on with all men-in-the-middle companies and the fees. I know merchants in my neighbourhood started to ask customers to pay with normal money as much as possible, because of the transaction processing companies ask very high fees per transaction.
They did regulate interchange as one of the highest cost components on consumer payments - that lowered merchant fees considerably.
You clearly never use some of the system or have a clue how it works. Thank you for proving that.
Let’s see use square I have seen it pick up my info at multiple merchants Apple Pay. Even I do I switch cards they show the name and cc info.
It is the exact same info they get off a credit card. No difference.
I am not calling you a liar but I am calling you a fool and an apple fan boy. If I am not mistaken you are self admitted Apple fan boy and can not be objective on Apple. I like Apple but I also know at the end of the day they are huge company and have been abusing their power for a while. I recognize that fact.
If Apple says 1+1=3 I would expect you to argue that it is forest.
I have indeed noticed a difference: when I pay by inserting my card, the voucher from the POS shows my name. That does not appear on the voucher when I use apple pay. To prove it, I am attaching an example showing two vouchers from purchases made on the exact same kind of card reader (an ingenico move 2500 supplied to each of the merchants by BBVA bank in Mexico). Both purchases were made using Apple Card. While the one on the left, which was made using the titanium card, shows my full name below the signature line (covered for privacy purposes), the one on the right made using apple pay only shows the signature line with no name below it. Clearly the merchants aren’t getting the exact same info using apple pay vs the physical card.
That being said, I agree with you that I7guy cannot be objective on Apple. However, I don’t believe he has ever admitted himself to be a fan of the brand, nor do I think he’ll ever do so.
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I’m sorry but your opinion is worth the equivalent cost to post it.
Thank you for taking the time to post this. And to point out that lack of objectivity has nothing to do if one is a “fanboy” or “asperser” or is in the middle. Now back to the show.