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Google Acquires Softcard Technology, Inks Deal With Carriers to Pre-Install Google Wallet on Android Devices
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Joint benefit: fraud = 0 due to tokenization; easier refunds.
Merchant benefit: save on receipt printing.
Consumer benefit: no lost/stolen cards; no loss of identity info due to hacking of pos machines; no need to replace cards due to hacking; eventual authentication at ATM and gas pump (speed and security)
If you didn't know this by now, you must be new to the topic.
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That's what I seePay as to be honest.
Your honesty is refreshing, your conclusion is odd.
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Here's howMasterCard views the readiness of certain countries to manage mobile payments.
http://mobilereadiness.mastercard.com/country-comparisons/index.php?c1=US&c2=SG
If you can't beat 'em, buy em.
Apple has been consistently buying up smaller companies and then integrating the technology or software into their system. Or just buying them to eliminate a competitor. There is an article on the front page now about them buying out an audio software company.
GW/Softcard need to have the PIN requirement, because the fingerprint sensor technology does not exist in the fragmented Android market. Apple releases two new phones, the only new phones in the iOS market, and both support NFC out of the box with a secure fingerprint sensor. When Samsung and LG finally catch up with their own versions, the PIN requirement will fall by the wayside.
I have been saying almost since the first rumors about the 6 started coming out that it needed to support NFC. To make the technology relevant and for customers to demand that establishments that accept credit and debit cards also accept contactless payments. I have had a contactless PNC debit card for a few years now, but it only really worked at McDonald's on a wide scale basis because they upgraded their registers and put pin pads right there on the counter. But with the new liability rules kicking in this year, everyone is going to be upgrading their terminals to be in compliance and to reduce their liability. Enableing NFC will be no big deal to them, but it will take customers demanding that they turn it on for it to succeed. The pricing just needs to be there to entice the businesses to offer non-cash payments, even for small transactions like parking meters and soda vendors. I would love to be able to go to a music festival or a concert and be able to buy food, drinks and merchandise without ever getting out my wallet to pay in cash or to hand over a card (and people would probably spend a lot more, too).
To keep Android and Google relevant in this new age, they had to do something to compete with Apple Pay. Otherwise their whole ecosystem is doomed. Maybe not because of yesterday's users, or today's users, but for tomorrow's users. Cash will become a thing of the past. Will greatly reduce the need for armored trucks, federal reserve, bank branches, etc. Just like checks are now pretty much extinct. All the merchants with the technology process them as Electronic Funds Transfers. So no more bad/bounced checks - they will know immediately that you do not have the funds in your account to cover the check and they will deny the purchase.
Apple has been consistently buying up smaller companies and then integrating the technology or software into their system. Or just buying them to eliminate a competitor. There is an article on the front page now about them buying out an audio software company.
GW/Softcard need to have the PIN requirement, because the fingerprint sensor technology does not exist in the fragmented Android market. Apple releases two new phones, the only new phones in the iOS market, and both support NFC out of the box with a secure fingerprint sensor. When Samsung and LG finally catch up with their own versions, the PIN requirement will fall by the wayside.
I have been saying almost since the first rumors about the 6 started coming out that it needed to support NFC. To make the technology relevant and for customers to demand that establishments that accept credit and debit cards also accept contactless payments. I have had a contactless PNC debit card for a few years now, but it only really worked at McDonald's on a wide scale basis because they upgraded their registers and put pin pads right there on the counter. But with the new liability rules kicking in this year, everyone is going to be upgrading their terminals to be in compliance and to reduce their liability. Enableing NFC will be no big deal to them, but it will take customers demanding that they turn it on for it to succeed. The pricing just needs to be there to entice the businesses to offer non-cash payments, even for small transactions like parking meters and soda vendors. I would love to be able to go to a music festival or a concert and be able to buy food, drinks and merchandise without ever getting out my wallet to pay in cash or to hand over a card (and people would probably spend a lot more, too).
To keep Android and Google relevant in this new age, they had to do something to compete with Apple Pay. Otherwise their whole ecosystem is doomed. Maybe not because of yesterday's users, or today's users, but for tomorrow's users. Cash will become a thing of the past. Will greatly reduce the need for armored trucks, federal reserve, bank branches, etc. Just like checks are now pretty much extinct. All the merchants with the technology process them as Electronic Funds Transfers. So no more bad/bounced checks - they will know immediately that you do not have the funds in your account to cover the check and they will deny the purchase.
No, I've been following m-commerce since the term was coined more than a decade ago. But when I take off my telecom hat and put on my consumer hat, I don't see a compelling reason to use Wallet, AP, et al. As I've posted multiple times in this thread, I've encountered fraud so rarely, and had the card issuers take care of it so quickly and painlessly, that it's not a motivation.
As for receipt printing, AP at best simply reduces that, which isn't a huge expense to begin with. It doesn't eliminate receipts because for the foreseeable future, there will lots of people who don't use AP or any other m-commerce service. Credit cards have been around for decades, but many people still pay with cash and even check.
For merchants, I think it's less per transaction so they make a little more profit. For banks, it's WAY more secure than the lame "sign this because I guess if you write in cursive it's you" security we mostly have in the U.S., which doesn't even affect online purchases.
Hopefully every computer, smartphone and tablet sold in about five years will be able to use something like Apple Pay and Google Wallet with biometric security. I've heard horror stories about identity theft, and I want to do anything to make sure those wretched creatures who do that can't get what they want.
Maybe so, but banks and merchants also are wary that Apple, Google or anyone else will get so much market share that they can start demanding a bigger percentage. In the meantime, merchants already have the expense of upgrading their POS terminals and back-office systems to support AP, so that offsets some of the savings, at least in the short term. Plus Apple gets a 15 bps cut.
As for security, my latest Citi MasterCard has a chip. I'm seeing more merchants (e.g., Sam's Club) with POS terminals capable of reading those. My AMEX has had a chip for years, but Petco is one of the few merchants with terminals that support it. I think we'll see more chip-based authentication.
Yup. Some financial institutions are already using mobile phones to verify a cardholder's location in ways that don't involve biometrics. If a transaction is attempted at a location other than where the phone is, it's declined. It's possible to hack a phone to spoof it's location, but some location-based m-commerce technologies now can detect that.
No its not and it does have one feature that is appealing. Google Wallet works with ALL Eurocard, Mastercard and Visa cards!
Apple Pay does not work if your bank is not part of it! most small banks have not joined!
Google also currently loses money on every Google Wallet transaction because they have to use the proxy MasterCard so they're going to need to make the deals that Apple made eventually.
I'm for more security any way we can get it. I'm just glad I'm not worth a darn so people don't really have a good target. You would think at least the chip and PIN system would have taken off here by now. I can only guess all the people with the money found dealing with theft cheaper than making everything more secure until the breaches got big enough with Target, Home Depot and some others.
I really don't think I'll get over how ridiculous signatures are nowadays. They're basically the illusion of any sort of security since you can spend thousands of dollars at Amazon, Best Buy, etc. online without anything more than the credit card number and security code. Really entering that three-digit code on the back of the card is more secure than signing a name.
First the acquisition of softcard, now the new wallet api called android pay. It's a wonder that people still insist that Apple doesn't make other companies actually try to support the products they rushed to market just to be first.
Suddenly the world is talking about nfc, and we've got people acting as if this is all just a huge coincidence. The denial is strong.
Suddenly the world is talking about nfc, and we've got people acting as if this is all just a huge coincidence. The denial is strong.
Same pattern about almost everything.
Apple announce a novelty. Android supporters tell us they have it on their devices since 1945. Apple's product works better and gains attention. Google and Android OEMs rushes to release version 2.0 of their service/feature.
Especially when:
1) Clerks rarely compare the sig to the one on the card.
2) The POS terminals often are at a height and angle that makes signing feel and look as if you have severe arthritis.
Fifteen or 20 years ago, Citi gave cardholders the option of submitting a photo that it then would apply to their card. A great idea, but for some reason, few cardholders took advantage of it, and as far as I know, few or no other issuers offered it.
and EVERYONE is better for it
However, youre slightly off with "apple announces a novelty" in this case.
NFC payments and technology did make its way to Android, Blackberry, and even Windows phone had the hardware capabilities.
this was done almost 2 generations of phones ago for all flagships. and still appeared in some devices 3+ years ago.
I admit that it's been not widely used for one reason or another, and the popularity, AND the better Apple Pay has brought attention back on them.
But Apple was never even on the radar for NFC till recently. But now that they are, it will only mean good things for the entire industry and we shouldn't really give a **** about "who was first"
and EVERYONE is better for it
However, youre slightly off with "apple announces a novelty" in this case.
NFC payments and technology did make its way to Android, Blackberry, and even Windows phone had the hardware capabilities.
this was done almost 2 generations of phones ago for all flagships. and still appeared in some devices 3+ years ago.
I admit that it's been not widely used for one reason or another, and the popularity, AND the better Apple Pay has brought attention back on them.
But Apple was never even on the radar for NFC till recently. But now that they are, it will only mean good things for the entire industry and we shouldn't really give a **** about "who was first"
And every company does this. Apple has followed on the heels of other companies as well.
In fact - as posted in another thread - the resurgence of interest in the smart watch is not Apple's doing (although they will certainly have mass adoption) - but that credit really belongs to Pebble.
Yet another example of why/how these "pissing matches" need to end. Who cares who does it first. And "better" is subjective based on someone's use case.
Just enjoy the tech you have.
And in this case, wider adoption for NFC payments is a good thing for everyone
Every company does do this. Apple does it tons. It's just bizarre that people don't give Apple credit for what they do, and instead talk about who had it first like the fail of a fingerprint sensor on the atrix and the ridiculously unused mobile payments.
Just give credit where credit is due. Apple rarely does things first, they also rarely do things worse.
the argument really only happens (that I pay attention to) when someone makes some bold, ridiculous and non factual claim.
EG
"Apple invented mobile payments"
or
"Apple invented the smartphone"
(don't repond to these guys, i'm just using examples)
stating a fundamentally untrue statement is just... fanboyish. if it's said in ignorance, i can forgive, and I'm willing to inform (not to be arrogant, just because I believe everyone has the right to truth).
But it's scary when despite getting factual information, there are a handful of regular posters on the board, who will, despite facts, still claim you are wrong.
guess thats what happens in an echo chamber for a certain specific manufacturer, but being wrong, is still being wrong.
but you are right. who cares overall, we are all benefiting from the constant competition these companies have. Nobody should want to see any of them fail.
I agree if someone says Apple invented these things that they should be corrected and possibly laughed at. That's rare though.
Most of what you see here is people saying Apple actually improved upon existing technology and make it mainstream (which they very often do to the point where it's expected of them), and then some android person finding some obscure schematic from the 80s to show that Apple wasn't the first. It's silly and as fanboyish as it gets.
The denial is ridiculous.
I do too but it's hard to do it here. I have an ipad that's why I'm here but my phone is a g3. I can honestly say I don't see Apple fans registering on android forums I'm a part of just to bash. It's crazy how much the reverse happens here.
you should see the android central comment section. the Forums aren't so bad, but there are lots of Apple fanboys who troll there. it happens everywhere these days.
People seem to grow emotional bonds to their technology. And they must prove to themselves, by way of proving to everyone else that the products th ey purchased are the best.
its a form of Cognitive Dissonance. The need for re-assurance thatwhat they purchased, with the belief it's the best option, is in fact, the best option. (Whether or not it's true).
Apple is a master of marketing and master of helping, through rhetoric, corporate policy and their public face at helping support this image. Other companies in the world do it too, so it's not a unique thing.
Car companies do it as well. Those commercials allover TV aren't just to showcase new cars. They're to convince the person who already bought the item, that they did in fact, buy the best truck/car.
Cognitive Dissonance is an interesting phenomenon. I recommend everyone (especially fanboys from both camps) read up on what it is, as it often explains the fanboy syndrome.
I'm more of a hardware agnostic guy when it comes to tech though. I Buy the right tool for what I want to do. Currently, I'm running Macs, i-devices, Windows devices, Unix devices, Android devices and even have BEoS installed somewhere for fun. We live in such an advanced, sci-fi world right now, that religious adherance to a corporate tech company seems like an injustice to myself. There's so much out there, why would I limit myself to just one companies products and miss out on everything else wonderful in the industry
I'm on androidcentral, droidforums.net, comment at droidlife, even xda and rootzwiki rarely. I'm not saying Apple fanboys don't go there but here it's like a disease.
It's sad as hell really that these android users have nothing better to do. It's rare for me to see it on the Android forums. If you look at my post history I was gone for a few months because I was posting solely on android sites. In that time maybe five or six random Apple trolls, not exaggerating
Here they're like residents and you pretty much know who they are lol.
My whole thing is again give credit where it's due. It's beyond stupid to say that because Apple didn't do it first that their contribution is moot.
Fanboys are on both sides, yes but good lord android fanboys are the most annoying people on the planet!
I'm not trolling. You are just incorrectly assuming. But if you want to think people troll when they do not, your loss. I explained myself to you already. I shall do no more.
And please don't incorrectly assume anyone else is a troll when they are not. Two wrongs do not make a right.
Bank of America still offers it on their debit cards actually even though they've gone chipped. Of course, it's a bad idea to use debit cards to make purchases for other reasons.
The novelty was referred to Apple ecosystem...and EVERYONE is better for it
However, youre slightly off with "apple announces a novelty" in this case.
NFC payments and technology did make its way to Android, Blackberry, and even Windows phone had the hardware capabilities.
this was done almost 2 generations of phones ago for all flagships. and still appeared in some devices 3+ years ago.
I admit that it's been not widely used for one reason or another, and the popularity, AND the better Apple Pay has brought attention back on them.
But Apple was never even on the radar for NFC till recently. But now that they are, it will only mean good things for the entire industry and we shouldn't really give a **** about "who was first"
You just demonstrated that: yes nfc and mobile payments were on Android flagships since a while, still nobody used it and even Google wasn't able to have it works on many carriers.
Now it's all about Google Wallet, and you know why ? Because of Apple pay.
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Lol, only here I can read something like "the resurgence of interest in the smart watch is not Apple's doing but that credit really belongs to Pebble".
Pebble. Seriously.....
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Absolutely right.