It isn't using your card info though, but EMV tokenization. Your phone becomes a second "card" attached to your account, with full chip & pin style tokenization. That is more complicated than simply cloning a card, and needs the bank onboard.
Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Apple Pay Shown to Work Internationally Using U.S.-Based Credit Cards
- Thread starter MacRumors
- Start date
- Sort by reaction score
It isn't using your card info though, but EMV tokenization. Your phone becomes a second "card" attached to your account, with full chip & pin style tokenization. That is more complicated than simply cloning a card, and needs the bank onboard.
Credit transactions actually cost the merchant and Debit transactions cost the Bank. Ummm...However, with the massive fraud that has been going on I can see why a Bank would pay for this feature. They can lower merchant fees with this.
Touch ID.
You lose your wallet, someone can use your contact less payment cards until you report them lost.
You lose your phone, it's a paperweight. And you don't need to cancel any cards you have registered with Apple Pay.
Since you replied to two questions, can you change your post to either "Yes and No" or "No and Yes"?
Sadly?? Seriously, you want them NOT to try to make a profit? That is so.... well I hate to say it but IIWII.... silly and immature. I use Apple products and I own Apple (AAPL) stock. They better damn well try to make a profit!!!
That's Apple's only motivation for Apple Pay. If they cannot produce revenue on each transaction there is no point for the company.
Apple _really_ profits from you buying an iPhone 6 or iPhone 6+, and in two years time buying and iPhone 7, maybe because you liked this feature.
Yes Apple Pay works with any NFC terminal. No retailer is specifically getting new tech to work with Apple Pay. It's a marketing push with stickers to alert buyers that the phones will work at those locations.
Don't get so riled up. Is this the first time you've heard different name for what is essentially the same tech from different companies?
There is one security element that is different from all others so far - Apple doesn't hold on to your information (transaction wise) and the retailer doesn't either.
In Denmark at least with danske bank you can pay for goods max 200 dkk with your nfc card. If it's more you need to enter pin regardless.
Google pay doesn't need the banks to be on board. It's system works differently. Google pay stores the credit cards on its own servers, and sends those credit cards directly to the banks. With Apple pay, Apple sends the banks a different token to the banks and the banks need to interpret it. The banks can't interpret it unless they agree with Apple pay on how to do it.
Do you seriously think that just because a company's HQ is in one country, they don't have to follow specific laws when they operate in another? Also, why should Apple (or anyone else for that matter) do this kind of thing for free? Entitled much?
The bank that issues your VISA card has to support the EMV tokenization standard implemented by Apple Pay.
Even when you buy something in the US, the authorization request goes back to your bank.
This is a deal that Apple has to do with each bank....And no, they can't do it with just VISA and boom its done. That's because the tokens that are issued are tied to cards issued out by guess who - the banks. Apple can't conceivably make deals with banks all over the world in one shot. Relax or let your bank know that you really want this feature.
At least give Apple a chance to show foreign banks not next door that it works and have an easier time getting them onboard.
Last edited:
Visa is not Visa. Visa cards are still issued by individual banks. Ultimately they need to be the ones to support ApplePay's enhanced security in their systems.
Apple is smart. They are trying to find more and more ways to keep people in their ecosystem. If you leave Apple, you lose everything in your iTunes account (apps, movies, games) that you bought from Apple, iCloud access, and now you lose ability to use Apple pay.
None of these force you to keep using Apple products, they are just more ways to help keep customers. Its not evil at all. Customers can still move to a different cell phone provider, if they choose the inconvenience. This is something that Google doesn't have yet.
Well, I haven't known, and it wasn't because of forums. I haven't seen anything shared by Apple or news sites that said it was possible. I also have known nothing about NFC--until Apple Pay discussions started. That's why this is all a little confusing to me.
Since they get their percentage from the bank, I'm guessing that's why some banks don't support it yet. Or am I mistaken?
.
I see where your confusion comes from. If Apple Pay is different, how can it work with existing NFC terminals?
That's because Apple Pay creates one time tokens that are formatted to look like real card numbers and expiration dates to the terminal.
It is made specifically to "fool" existing terminals into thinking it is processing information about a real card, when in reality it processes semi-random numbers which can only be decrypted and associated to a real account at the other end by the payment processors like banks and credit card companies.
Google had NFC payments long before Kit Kat. The original 2011 method used the Secure Element in either the device or SIM.
Google Wallet is as easy to setup as Apple Pay. Photo input of cards, etc. Moreover, any card works, not just ones where the issuing bank has made a deal to pay Apple.
In fact, The first Apple Pay webpage looked astonishingy similar to Google's Wallet webpage. But of course it would, since modern wallets will have similar functionality.
There are many background differences, but to the user they're quite similar, with the exception of being able to use TouchID on an iPhone instead of entering a PIN at some point, although a PIN and/or signature might still be needed above certain amounts, even with Apple Pay.
For device independence, the banks create payment applets that run in a device's Secure Element, which has a Java runtime.
It's all very similar to how SIM cards work, and in fact was derived from them.
As for the tokenization process, the biggest banks can afford to write their own systems to handle those.
Most other banks, credit unions, etc, instead have to license token services from a toekn service provider. This is why it takes a while for them to get signed up.
For example, Visa and Mastercard have set up such paid token services. So have major third party processors.
Many banks are slow. My bank still doesn't support deposits through smartphones when most of the other banks in my area do.