If every bank can have it’s own card for payment, what’s the problem with separate apps?
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Australia Considers Case for Opening iPhone NFC Chip to Third Party Payment Systems
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Yes. This is happening even in India. QR codes are being standardised and payments use instant transfer without involving NFC.
Are banks any different from Apple when it comes to business interests? And, banks are regulated.
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Considering Apple Pay took longer to be supported here (in Germany) and is still not supported for all cards, it would probably not have as much of an impact as it would in the U.S. And, if European banks succeed with their plan to launch a competitor to Mastercard, Visa, PayPal etc., it’ll probably become even less relevant. I would rather hope for some progress on QR codes. https://9to5mac.com/2020/07/07/excl...e-payments-for-apple-pay-ios-14-code-reveals/
I was referring to this article. https://9to5mac.com/2020/07/07/excl...e-payments-for-apple-pay-ios-14-code-reveals/
Yes. They do not explain in what way it would compromise security. If Google Pay and Samsung Pay can be secure regardless with NFC on the respective phones being open to developers, what’s different about iPhones?
Banks are also regulated. And, if you do not trust regulatory agencies, you shouldn’t trust anything else either like the water flowing from your kitchen tap, the food at the local supermarket or any medicines at the nearby pharmacy to start with.
Why bother with such an awkward half measure. Just ban all bank accounts and force employers to pay salaries in iTunes gift cards.
Yes. The Octopus card in HK works with iOS. I’m not sure whether they have to pay Apple for the transactions though.
Yes, but people elsewhere don't seem to be bothered too much by that. After all, Amazon's cashierless stores use QR too.
Good, they should force them to open up their hardware. Enough of Apple and their anti-competitive behaviours. They lost out on FaceTime being Zoom, precisely due to such anti-competitive behaviour. It could have been their entry-way to the corporate money they so desperately want.
" its Apple Pay system is stifling innovation in the contactless payment technology space."
HOW? Is this a joke?
Google is not right. They needs another step authentication. It's less secure.
I prefer Apple Pay over other systems - always works.
HOW? Is this a joke?
Google is not right. They needs another step authentication. It's less secure.
I prefer Apple Pay over other systems - always works.
The media, some politicians, and a vocal internet contingent sure has been beating their drums.
And in 55 minutes we are about to find out about how much these three groups banging holes, as you call it, has hurt the ability to add customers.
Keep an eye on Services YoY, you'll just LOVE that one, I'm sure.
I know that in some parts of Europe, Google Pay allows you to tap for purchases smaller than the contactless limit without needing to unlock the phone first. I don't know if that's the case in Australia or not but in my experience, US banks/accounts require authentication for all Google Pay transactions. Personally, I'm not sure it's that big of a security issue given that tapping physical cards already don't require anything if the purchase amount's small enough.
This isn’t specific to Google Pay. It applies even when you use a card. The PIN is not required for payments below a certain limit.
Physical card, sure, but all phone/watch based transactions require biometrics or PIN here; terminals will flat out block your tap and spit out a "see phone" error if you don't unlock your phone first. However, in Europe, Google Pay behaves more like physical cards, which may be what OP was complaining about.
Okay. I didn’t realise the difference as I have never used Google Pay. With Apple Pay, authentication is required regardless of the amount.
Not all banks are evil. Ironically it’s mostly the ‘good’ banks that are left behind. The most environmentally and socially responsible banks are the smallest. They have trouble complying with Apple’s rules. (Apparently, because two of the most prominent responsible banks in the Netherlands are ‘in ongoing talks’ with Apple for years now, without any progress. It’s the big palm oil and gun traffic supporting banks that happily pay Apple’s margins.)
If only I could just port my physical bank card to the NFC chip on my phone, like everyone on android does. That would be great. (And safe. And easy.)
I don’t know, when I got gifted a non-cellular Apple Watch SE suddenly just started paying with it for everything, even when doing groceries after a jog without the phone on me (the thing just works)… that felt damn innovative to me.
Same feeling when using iPhone’s ApplePay some time ago… which also felt damn innovative at the time.
The one secure key per transaction explanation and the need for FaceID/TouchID to allow the tap interaction also feels secure… vs the NFC on traditional plastic credit cards.
So, I would love to hear how was innovation stifled. Maybe let’s start on the iOS side of things (what Android has that apple doesn’t) and then at large scale, what has happened or where we should be instead because from where I’m sitting it feels futuristic sci-fi already.
Of course banks don’t want to pay Apple to use Apple’s service; even if it was free for them to use, they’d still charge customers: it’s what banks do.
Unlike in the US, banking in Australia is dominated by a smaller number of large banks. The big four banks of ANZ, CBA, Westpac and NAB control over 80% of the market. Initially there was a stalemate with Apple, as all four banks wanted direct NFC access to run their own contactless apps, rather than Pay Apple a transaction fee though Apple Pay.
ANZ were the first to break ranks and support the use of Apple Pay with their cards in 2016, but it took until 2019 for the next two banks to agree to Apples terms. The final holdout, Westpac, didn’t come on line until as late as 2020. Current coverage means that almost any Australian user with a bank account should have access to Apple Pay, so any relaxation is more likely to benefit the banks or anyone who wants to use their banking app over Apple Pay for some reason.
Similar in Victoria, the Myki card is the equivalent to the Opal card here, although I believe they use a different format to the backend. Electronic Myki is available on Android, but still nothing on iOS. I keep googling, every six months or so, to see if theres any rumours of an introduction, but still nothing and no clear answer as to whether it’s a technical or a cost issue. We don’t even get the option to use a debit card or tap to pay instead of the Myki card.I'd love if I could for example have my Opal card on my iPhone to tap on/off buses and trains. I can use Apple Pay for it, but then you don't get the benefits of a Opal card
Yes.
Credit cards are a bit of a different beast, but I presume most of us have annual fees, plus interest on monthly balance. VISA and stores handle most liability risk. I believe in case of contactless payment vendors like Moneris there are a combination of fees paid by the store. Apple will be taking a % of that revenue.
Bank debit cards... My wife works at a bank, we keep a high minimum bank balance, and therefore no monthly fees, and unlimited NFC transactions. Most I'm sure if they have a minimum balance have some sort of base fee paid each month. Banks handle disputes directly with users. If ultimately a store is paying same price for a POS NFC terminal, and use fees remain the same, there's a likely sizeable bit of revenue Apple is profiting.
If I was watching every penny I was paying, I would presume it is healthy enough of a cut worth fighting in court to help limit costs. Instead of using our manufactured/secured NFC cards, we are wanting to use your hardware instead... let me pay you Apple, a standard fee for use of that NFC chip not based on transaction amount. Or, argue to a judge nothing. There are third party apps freely using the NFC chip to read/write data already.