Early Apple Pay Reception Tepid Outside of United States

[djbuddha]

In terms of loaning the card - you could just add your card to your wife's wallet on her phone.

I'm suspecting Apple will have device transfers of funds soon - when that happens, you'll be able to more easily give funds to the kids or babysitter (hopefully a little easier than e-mailing funds today). Me, I'd like them to give the option to tap iPhones / Apple Watches to transfer funds.

Canadians won't see the device fund transfers anytime soon. I'd be shocked if we got that update when Apple rolls it out. It'd be nice though lol.

 

[SteveW928]

The point is, no currently used method is really secure. However, they're considered "good enough", especially if the convenience to the user is high, which allows for more purchases

No kidding. I always get a kick out of many corporate or government 'security' efforts. A while back, I needed to get a pin so I could log into my CRA (tax) account. While setting up the account, they have you jump through a bunch of hoops, putting in info that was mostly an inconvenience to me, but would only slow down a crook a slight bit. Then, after all of that, they have me answer those 5 Q&A account unlock type things... i.e. What was your favorite pets name?

If you actually do that, they've just undone their security. And, it's surprising, often, how easy it is to get access to change account info just calling on the phone and giving some info that's readily available. When you have a hole in your security big enough to drive a semi though, what's the point?

(BTW, if you get asked those kind of questions, be sure to answer them with long, random strings and put them in your password manager. You are using a password manager, right? Never answer them with real answers! And, when it comes time to actually use them, it will annoy the service agents when you read your random 20 character 'answer' to them. What is your favorite pet's name? A: y1jp2y2bND11451L42f7 )

 

[fischersd]

Canadians won't see the device fund transfers anytime soon. I'd be shocked if we got that update when Apple rolls it out. It'd be nice though lol.

Why would you think that? I'd expect only the debit / Interac option to be available (there's no merchant to charge, so if you did this with a Visa/MC, it would be the same as a cash advance - usually meaning interest charges start immediately).

The reason this took so long for the banks to get on board was that they were haggling with Apple over how they were going to share the transaction fees. Amex got an early jump/exclusivity as they charge more than Visa/MC, so it was a lesser "pill for them to swallow" with giving Apple a couple of points.

I'd expect device or iMessage transfers to get the same sort of charges that e-mail transfers do today (depending on your account, that could be included in your monthly fees already...I know it is on mine).

 

[andyyardley]

Your first point is filled with inaccurate fail. Apple doesn't charge merchants or customers for its fee. The fee is a whopping 0.0015% of the transaction value, it is paid by the issuing bank and not charged to the customer. The delay accrues to many things, banks having to pay the fee, banks having to get certified by Apple to meeting their contract obligations, some banks not seeing the point (this changes as customers leave or charges on previously used cards begin dropping a sign customers have moved off the bank credit card) and big banks like Barclays (or retailers like Walmart) pursuing the chimeric wet dream of displacing credit cards with a proprietary payment system.

Yeah i'm not entirely sure what I wrote there I think I hacked up that sentence while writing it and didn't re-read it. I did mean to say that Apple charge the issuer a % of the transaction and that the issuer flags the tokenised card number when they issue it so they know to pay Apple when it's used.

My understanding however was that Apple in the US were taking a 15 basis point cut (0.15%) of the total transaction value and not 0.0015% as you say.

I agree with the reasons for the delays.

 

[djbuddha]

Why would you think that? I'd expect only the debit / Interac option to be available (there's no merchant to charge, so if you did this with a Visa/MC, it would be the same as a cash advance - usually meaning interest charges start immediately).

The reason this took so long for the banks to get on board was that they were haggling with Apple over how they were going to share the transaction fees. Amex got an early jump/exclusivity as they charge more than Visa/MC, so it was a lesser "pill for them to swallow" with giving Apple a couple of points.

I'd expect device or iMessage transfers to get the same sort of charges that e-mail transfers do today (depending on your account, that could be included in your monthly fees already...I know it is on mine).

I'd hope you're right, it'd be nice. I just know how Canada is slow to expand on new technology generally. We got Apple Pay, but still waiting on in app purchase support (not counting AMEX here) is one example of this type of behaviour within corporate Canada. Email transfers shouldn't have such a fee attached and they still do. It'd be really nice if they did implement device transfers, but I'm definitely not holding my breath.

 

[iGeek2014]

One thing that's irritating me (not that it really matters) at the moment is Lloyds Bank.

My Club Lloyds Visa Debit had verification by phone or SMS.

My Classic Account needs verification by phone call as did the Choice Rewards MasterCard/American Express.

Fair enough it's only a quick call but when you attempt to add your card(s) to Apple Watch and need to call again? Annoying.