There have been several high profile breaches lately, people will care now. And I am certain that once CurrentC becomes a thing, Apple, Google, and all the major banks will have PR campaigns reminding us of how we are liable for fraud with CurrentC, and how the same companies who failed to protect our data multiple times now want to have direct access to our checking accounts.
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Apple Pay = No Potential?
- Thread starter VoilaiPhone
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There have been several high profile breaches lately, people will care now. And I am certain that once CurrentC becomes a thing, Apple, Google, and all the major banks will have PR campaigns reminding us of how we are liable for fraud with CurrentC, and how the same companies who failed to protect our data multiple times now want to have direct access to our checking accounts.
Yes, I get it. I think though if enough people have apple pay devices and actually use them it might make a difference. I would even guess that most with nfc on android does not use it. There has to be a real reason to use it, right now I'm betting that reason is very small.
Every time you use a Debit card today it links directly to your checking account.
I think eventually all retail stores will wind up accepting Apple pay too. Why cripple sales by not allowing your system to be used along with other systems. Google wallet and apple pay is already out and available to slot of people.
I highly doubt it. I'm sure there is a way for the retailer to 'turn off' the Apple Pay/Google Wallet etc payment system.
Apple should have spent more time trying to get it into countries that actually use NFC on a regular basis, here in Australia literally every shop has a working nfc terminal , every credit/debit card has a PayPass terminal which used nfc etc instead they spend all there time in a country that still uses signature and the magnetic strip lol
The whole mentality of businesses in America is so up there own arse and don't put the consumer first.
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Apple pay probably sends the exact same data to the nfc terminal as a credit card with an NFC chip has. But it's more secure because to activate the NFC cabilities you need your finger print
The whole mentality of businesses in America is so up there own arse and don't put the consumer first.
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I don't see how , all apple pay is nfc payment chip just like a credit card , but it has a secure element and Touch ID. The actual Touch ID probably has nothing to do with the sending of data to the terminal , it's just used as a secure method to access the data of the card.
Apple pay probably sends the exact same data to the nfc terminal as a credit card with an NFC chip has. But it's more secure because to activate the NFC cabilities you need your finger print
The retailer has no interaction with Apple or Google. The POS sees it like it would see any VISA/Mastercard/AMEX transaction. Right now the only way to block it is to disable NFC altogether.
I wonder if the banks can amend their October 2015 EMV mandate to also require NFC be enabled
apple pay or no apple pay... didn't buy iPhone 6 plus for apple pay...it would be nice if they do support it...but it's not end all or be all if they did fail...
why else did people iPhone 6/plus...apple pay only?
big screen, faster processor, new features...shouldn't we focus on those...?
why else did people iPhone 6/plus...apple pay only?
big screen, faster processor, new features...shouldn't we focus on those...?
I liken apple pay to touchid.
It does one thing but it does it well.
Apple pay may be convenient enough to be useful even if it's not accepted everywhere.
I'll admit that you feel like a fool when you ask the cashier about apple pay and they have no earthly idea what you are talking about.
For now I and probably many others are totally ignoring apple pay. Asking the cashier and actively searching for ways to use Apple pay takes more energy than simply swiping a card. Target is ridiculously fast, for example. I literallys wipe the card and i'm done. no signature, no nothing. Just completely done.
It's as fast as apple pay.
It does one thing but it does it well.
Apple pay may be convenient enough to be useful even if it's not accepted everywhere.
I'll admit that you feel like a fool when you ask the cashier about apple pay and they have no earthly idea what you are talking about.
For now I and probably many others are totally ignoring apple pay. Asking the cashier and actively searching for ways to use Apple pay takes more energy than simply swiping a card. Target is ridiculously fast, for example. I literallys wipe the card and i'm done. no signature, no nothing. Just completely done.
It's as fast as apple pay.
This, so this. Honestly, the average consumer could give a sh** less about security. Most of the time they'll bitch and moan if I ask for an ID when they didn't sign their card.
All they care about is the transaction is quick and easy. hell, they bitch and moan that they have to answer questions at our credit card terminal (too many questions!).
This MCX thing that requires them to open up an app and then find the thing to display a barcode? Hahahahahahah. No frikking way most people are going to hassle with that (that's way more effort than answering a few questions or taking out an ID).
The only people who are going to bother doing that are people who like gadgets. Hell,that would be me. And I already discovered with apps that let you keep your loyalty cards on them that apps that require me to turn on my phone, find the app and open it, and then find the card with the barcode I need is way longer than just either putting in a phone number or letting them scan a physical card. So even I had to succumb to the fact it was awkward to use my phone for that and it was better to do it the "old fashioned" way. Also, these kind of people probably are more likely the kind of people who pay attention to how secure a payment method is... and they aren't going to like that it wants bank account info. And anyone who is smart isn't going to like that they want your SSN (hell f**ing no. No one is getting my SSN unless they truly need it. If I'm applying for credit with them or starting a job with them. Otherwise, f* off, you don't need it and it is illegal to even require it for anything else. I've had my ID stolen and if you think credit card fraud is a hassle, trying to clear your ID after it is stolen. It is impossible without a lawyer and sueing the credit companies who are not going to be bothered with fixing your report unless you are going to sue them. Or hoping time eventually will wipe it off which is eventually what I did cause I don't have the money for a lawyer).
Nope. That's why CVS and Rite Aid have to shut off their entire NFC system. There is no way to differentiate Apple and Google transactions from any credit card transaction.
Except that they can't.
CurrentC will use ACH debit transactions. The law provides essentially zero consumer protections for ACH, and the banks have no way to put the liability on the merchant since there is no contract/agreement for it.
Now, what WOULD escalate this quickly is for MC/Visa/AMEX to tell the MCX merchants that if they do not support NFC transactions by a certain date that their agreements to accept the cards will not be renewed... Can't accept credit cards at all? THAT would get some immediate attention.
(Well, OK, there's Discover and Diner's Club, I suppose, but still...)
I'm not an NFC expert or anything of the sort but I find it very difficult to believe that a merchant is FORCED to allow people to use their iPhones or androids to pay for stuff.
Thanks for the info. If their is no consumer protection using ACH, why would any consumer want to use that system? It would be safer for the consumer to swipe their debit and credit cards and not change what they are doing. I'm sure the merchants will not really mention that to their shoppers, except in very small print in the agreement. Sounds like most of those Current C agreements were made in 2011/12 and are locked for 3 years, so most could still dump this idea in 2015.
Every major iPhone release has had a buzzworthy "wow" feature to it, something a bit unexpected to the average consumer.
Ask yourself, without Apple Pay, what would be compelling about the iPhone 6? It's thinner and faster, that's good. But is there something there that makes you go "cool, that's really awesome"?
Whether or not Apple Pay works over the long-term doesn't matter; what matters is that it's helped sell 30M iPhone's in a month which is really all it was intended to do.
BJ
Ask yourself, without Apple Pay, what would be compelling about the iPhone 6? It's thinner and faster, that's good. But is there something there that makes you go "cool, that's really awesome"?
Whether or not Apple Pay works over the long-term doesn't matter; what matters is that it's helped sell 30M iPhone's in a month which is really all it was intended to do.
BJ
If alot of people want to pay with Apple pay, the retailers will have no choice but to accept it. As with any payment method.
Retailers may want to pay less in credit fees, but their main business is still selling and making money, and they can't do that if we cant pay them.
Not sure though if one phones payment method is really that important though. I don't know anyone in real life but myself who has an iPhone, so i dunno.
Retailers may want to pay less in credit fees, but their main business is still selling and making money, and they can't do that if we cant pay them.
Not sure though if one phones payment method is really that important though. I don't know anyone in real life but myself who has an iPhone, so i dunno.
There is an impression being given that the Merchants system CurrentC will link to your bank account and that is not already happening with existing Debit cards.
Not quite. Merchants are being "encouraged" to accept EMV chip+sign payments by Oct 2015 by virtue of liability for fraudulent charges shifting to the acquirer from the issuer as of then. The acquirers will most likely either charge merchants higher rates for swiped card payments or implement some other encouragement method.
Either way, merchants who don't have EMV capable terminals will have an incentive to install new terminals and many of those will have NFC capable hardware built in. It is possible the acquirers will also create an incentive to keep NFC turned on in those terminals thereby allowing contactless payments such as Apple Pay or Google Wallet. How this will unfold remains to be seen AFAIK.
Also, fuel selling companies (aka gas stations) have an October 2017 deadline for liability shift largely due to the higher infrastructure change requirements. A lot of gas pump terminals are apparently wired in a way that doesn't support the EMV terminals and thus will need to run new cabling as well.
(acquirers are the companies merchants use to handle credit card payments and deposit them in the merchant's accounts, acquirers connect to the Visa/MC/Disc/Amex networks to then route charges to the issuing banks)
They aren't being forced, at least not yet. They have the option to turn off contactless payment, just like they have, to stop ApplePay and Google Wallet from being used.
I think most people are aware that their debit card transactions come out of their bank accounts.
But there is a big difference between swiping a debit card, and using a system where you have to provide all your banking information, your SSN, your DL # and where you have absolutely no protection except the goodwill of your bank if the system gets hacked.