You almost got it right. Google doesn't share you CC number as you're given a virtual Master Card number and each time you make a payment a token is generated for that sale.
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Many Retailers Hesitant About Offering Support for Apple Pay
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You almost got it right. Google doesn't share you CC number as you're given a virtual Master Card number and each time you make a payment a token is generated for that sale.
While that does sound cool, it's definitely not the norm here in the states. And I definitely don't see it becoming standard any time soon. Maybe in the next few years or so.
Places that accept NFC which accepts Apple Pay, Google Wallet and other will be getting priority for you.
Places don't accept Apple Pay. They accept NFC payments.
You need to stop saying this. It's wrong.
Tokenization happens at a different layer and has nothing to do with the terminal.
Really? Do you all actually think Apple went to all the thousands of retailers and let them in on Apple Pay prior to the announcement? That's probably a good reason why a lot aren't on board yet. And, they have to review their technologies prior to implementing.
Not surprised by this at all, most people don't seem to use NFC systems. One day we'll have them everywhere, maybe.
I didn't read all comments so forgive me if this has already been said, but isn't their saying they won't support Apple Pay just them saying they won't support NFC payments? Or possibly not understanding what Apple Pay is? Sort of analogous to a business saying they won't take credit cards but the headline reading "Acme will not accept Visa."
... All I know is, if 
Pay/NFC takes off, it's going to put a real dent in the bottom line of the 'panhandling' industry.
Does this mean they're going to have to come up with portable NFC systems?
Just my inquiring mind wanting to know.
Pay/NFC takes off, it's going to put a real dent in the bottom line of the 'panhandling' industry.Does this mean they're going to have to come up with portable NFC systems?
Just my inquiring mind wanting to know.
It happened here pretty quick, I live in a smaller town in Utah so maybe were adapting fast. But in the end it is cool and I hope restaurants and businesses move more towards this type of payment system.
It's ok as long as you don't allow fallback to the card number. I think that once the U.S. moves away from our current insecure system, c&p will be a huge hacker target.
The chip cards are difficult to hack, but can still be stolen and used at retailers who use chip and sign.
And even chip-and-pin is vulnerable to that whole Target/Home Depot/DQ/Kmart/Sears thing where the back end transactions get hacked in bulk.
Just sayin'...
You're annoying. It is one click instead of typing Apple every time.
The POS terminal doesn't know it is receiving a token, it "thinks" it is getting a regular CC number. The tokenization is between the secure element in the phone and the CC issuer. If you have a card from a CC issuer that supports
Pay (a prerequisite for being able to set up your CC with Pay on your iPhone in the first place) then it is exactly the same as carrying around a contactless payment enabled CC, except way better and more secure.What do you mean when you say local network?
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Yes.
Ah, OK. Thanks. That's good to know. I'll actually edit my post because I don't like spreading misinformation.
Oh, really. So that 1.5% is coming out of the bank's profit?
The banks are in a line of business where they will pay out more in expenses to operate a service than they make from operating the service?
Of course the retailer is going to pay it. The bank isn't going to give up any money to Apple just because their customer (the retailer) chooses to play nice with Apple.
Ummm, no. NFC and ApplePay are the same thing to a retailer. If Best Buy supported ApplePay, it would mean they support NFC - that includes Google Wallet, ISIS, and anything else available on Samsung/Android phones.
It's 0.15%, not 1.5%. Big difference when you're talking about millions of dollars in transactions.
You got it. But this makes for many more page views and click throughs.
A bit irresponsible I think, because half the comments are asking for clarification, or giving incorrect information.
What happens if you decide to take a vacation outside a major city, your car needs gas, and the only gas station around only takes plastic?
Are you going to buy gas, or will you sit in your car and play with your iPhone until the gas station decides to get a NFC terminal?
By the end of this year, hacking events like Target/HD/DQ/Sears will be a daily occurrence. Retailers will have no choice but to purchase new equipment. Banks will have no choice but to issue secure cards. Those that cannot afford it will not survive in their current form.
A new wave of bank consolidations is coming and this is the catalyst.
It is not an Apple thing. They just brought the water when we were all thirsty.
A new wave of bank consolidations is coming and this is the catalyst.
It is not an Apple thing. They just brought the water when we were all thirsty.
Everyone should call the business of the list that says that they will not accept Pay, ask them if they will accept it, and, if they say that they will not, say, "That's okay. I will shop elsewhere from now on.
This might get them to change their minds.
This might get them to change their minds.