You must not realize that not every Android phone can use Google wallet. My ATT Galaxy S4 is forced to use ISIS (now called Softcard), which is only even available in a few cities.
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Apple to Collect Fee From Banks for Every Purchase Made with Apple Pay
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You must not realize that not every Android phone can use Google wallet. My ATT Galaxy S4 is forced to use ISIS (now called Softcard), which is only even available in a few cities.
I was using the phrase "swipe" to describe the action of a phone motioning first towards the sensor from my pocket, then back away from the sensor back to my pocket. Pedant.
Actually the S4 should support Google Wallet under KitKat but that's neither here nor there. Likewise, Isis is now available nationwide but that's also irrelevant. My point wasn't availability it was technology. This is the same basic thing - using contactless credit/debit technology that is well defined by EMVco.
But yes you have Google Wallet and Isis both available to you to the best of my knowledge. Definitely Isis.
For business model, Apple Pay is much closer to Isis than to Google Wallet.
This makes a lot of sense to me, but not my area of expertise.
I would think some of the banks would be working with Apple to get a branded AppleCard (that doesn't physically exist).
Gary
So... this means the terminals probably need to be authorized for ApplePay specifically? If so, that sucks. if not, great.
There are lots of terminals in Canada that can use the Visa paywave NFC systems with your credit card, for up to $50. I'd like to think banks wouldn't be involved at all here, and this could just work, just like Android and TD Bank:
http://www.tdcanadatrust.com/produc...tronic-banking/ways-to-pay/mobile-payment.jsp
There are lots of terminals in Canada that can use the Visa paywave NFC systems with your credit card, for up to $50. I'd like to think banks wouldn't be involved at all here, and this could just work, just like Android and TD Bank:
http://www.tdcanadatrust.com/produc...tronic-banking/ways-to-pay/mobile-payment.jsp
do you honestly think that the credit card companies are just going to "share" their profits with Apple without accounting for those profits elsewhere? you're claiming (actually, you're assuming) that it's a 1 for 1 trade-off for the cost savings from reduced credit card skimming from iPhone owners and then the profit they give to apple for each transaction. heads up - credit card fraud isn't just from skimming...there are many other methods out there most of which Apple Pay does nothing for and thus saves nothing for the credit card companies. Apple has assumed the role of the middle man's middle man . any process or interference between two ends of a transaction increases costs. the best thing for the industry wasn't to have Apple step in, in fact this is probably the worst way of doing it. the best way would have been to have all credit card companies come together and decide on a path forward.
i guarantee that the cost will be passed on to the retailers and thus to us. maybe not this year, but it will happen. the first place you will see an impact will be restaurants.
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Apple will be making "bank" (<<<
Since these transactions should be more secure than even 'card present' transactions, banks should be saving more on the backend with reduced terminal hacking fraud ala Target & Home Depot. If anything your bank fees should go down.
i got slapped by the mods for the way i delivered my argument haha
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but the question is are they saving more than the profits they are giving up? if not, the cost will surely be passed onto the retailer through an increase in swipe fees. the business will then pass the cost onto the customer. restaurants operate on such a slim margin as in, that will be the first place you'll see an impact. you might say that restaurants are where a lot of fraud happens...yes...you'll have a rogue waitress here and there skimming numbers but that's not what the credit card companies care about. they care about the massive leaks where hundreds of millions of credit cards are compromised and the potential losses could end up being greater than the entire capitalization of the company...but not to worry, they have insurance for that lol
you're failing to realize that the cost savings from potential credit card fraud is only for people who have iPhones to begin with. what about android users? what about people who still use flip phones. what about the elderly who don't have any cell phone and will give you their credit card info if you say you are their long lost cousin from Nigeria
Playing devil's advocate, there was little reason to do so before. Now, with the ability to buy items or transfer money, there is.
(From the tests with actual body parts that I've read, a chopped finger can work up to an hour, or more if you "juice" it up some to keep the capacitance range correct. I was surprised at how long it could work, considering that so many bloggers had repeated each other's unresearched assertions of a much shorter period.)
Still, it seems a lot less grisly to just lift the victim's prints and make a fake finger instead:
TouchID uses subdermal RF fingerprint sensing dating from the late '90s.
RF sensing was easily fooled back then with artificial fingers. That's why years later, TouchID was hacked within days... as the technique was already documented on the web.
Researchers back then even found ways to fool sensors that looked for a pulse. I think they were having a bit too much fun at this
You think that's what happens with corporate profit do you? That it's just put under the proverbial corporate mattress? You believe that wealth is just some static pie do you? Your warped view on economics will be a direct cause of a sad and unfulfilling life.
So, _if_ by using Apple Pay, I have to pay more, why wouldn't I choose to use my debit card instead? I'm a legal citizen, so I'm still required to have my ID on me at all times.
My wallet isn't going anywhere.
Or are you saying that every single product and store will have the apple pay tax pre-built in, no matter what?
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Good point. I do see that at gas stations. But what I see is that if you use debit, there isn't a fee, but using credit there is.
So... Gas stations in states where it's legal.
Pre apple pay era.
I guess my point is that _if_ apple pay costs the consumer something, it's not like apple is the first: gas stations are already doing it.
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That's my whole point.
Someone was trying to say, "can't wait to pay the apple tax".
So, what you're saying is, we are already paying it. I'm saying, what's _really_ going to change?
And most people won't notice/won't care, because convenience is something most humans are ready and willing to pay for.
Touch ID is a big upgrade to other the other options I think. You are right about Google Wallet, I didn't realize it's enabled for my ATT S4. I didn't know any changes KitKat brought. Upgrades on Android are pretty lame.
Like I said, you can easily set the PIN timeout on Google Wallet to 24 hours (I don't, for security) - this offsets the convenience benefit of Touch ID quite a bit.
Really?
From their get started documentation it says "How much does it cost to accept Apple Pay?
Apple does not charge users, merchants or developers to use Apple Pay for payments. Your credit and debit transactions will continue to be handled by the payment networks."
See: https://developer.apple.com/apple-pay/Getting-Started-with-Apple-Pay.pdf
From their get started documentation it says "How much does it cost to accept Apple Pay?
Apple does not charge users, merchants or developers to use Apple Pay for payments. Your credit and debit transactions will continue to be handled by the payment networks."
See: https://developer.apple.com/apple-pay/Getting-Started-with-Apple-Pay.pdf
The redistribution, and not just further corporate growth, is an instrumental component on that scale of cash assets in a better economic balance. Apple was never known for significant contributions to specifically the US society. Disney is another good example of non-participation i.e, in local schools where children in Glendale are forced to use outside bathrooms sitting in mobile structures behind iron bars trying to be the new generation of what? The life is better fulfilled when one gives back, not just takes. Good luck to you.
I suspect you really don't know how the banks operate.
Exactly.
Anyone that expects something different is plain naive... and adorable!
Actually, it all gets stuffed into a mattress and then sent to some offshore, tax fee haven. So yeah it's pretty accurate. You gonna say it's not and gets reinvested back into local communities and local jobs like it used to? Thatd be false. Welcome to the year 2014. Where you been?
And, wealth is somewhat static. The more certain people have, the less others have. This notion of unlimited wealth and capital available for all sounds all warm and fuzzy but it's pure nonsense. It is impossible for everyone to be rich. Completely impossible. No matter how hard we all work or what website we get lucky creating and then sell to Google.... There has to be poor people in order for there to be rich people. Period.
This is a quite interesting read.... http://www.creditslips.org/creditslips/2014/09/apple-pay-and-the-cfpb.html
A lighter analysis here... http://www.nakedcapitalism.com/2014/09/apple-pay-just-put-apple-cfpbs-crosshairs.html
Perhaps, we are all wrong about Apple: perhaps it's real aim is to become the first global-techno-financial institution - you know, all that talk about making a dent in the universe and changing the world... dominate the world and get that sweet sweet easy cash, à la Goldman Sachs - bailouts, no regulation, powerless consumers, submissive politicians....
Perhaps that was Steve Jobs vision, to become the ultimate "master of the universe", and the computing thing is just another tool in a bigger scheme...?
Was George Orwell right?!?!?! hahahaha
But seriously, an interesting read.
Cheers!
A lighter analysis here... http://www.nakedcapitalism.com/2014/09/apple-pay-just-put-apple-cfpbs-crosshairs.html
Perhaps, we are all wrong about Apple: perhaps it's real aim is to become the first global-techno-financial institution - you know, all that talk about making a dent in the universe and changing the world... dominate the world and get that sweet sweet easy cash, à la Goldman Sachs - bailouts, no regulation, powerless consumers, submissive politicians....
Perhaps that was Steve Jobs vision, to become the ultimate "master of the universe", and the computing thing is just another tool in a bigger scheme...?
Was George Orwell right?!?!?! hahahaha
But seriously, an interesting read.
Cheers!