Monkey see, monkey do. What else do you expect?
I think your confused. Have you forgotten that it took apple years to get on board with NFC. Google wallet was around long before apple pay.
Monkey see, monkey do. What else do you expect?
I think your confused. Have you forgotten that it took apple years to get on board with NFC. Google wallet was around long before apple pay.
This is pretty different. It's essentially the same as using the actual cards. I like Apple Pay's token system a lot better.
Since it uses magnetism doesn't this mean it won't work with chip and pin cards? So, Samsung is so scared of Apple that they bought tech that'll be outdated in a couple years?
Samsung wants to own the next Apple Pay but in reality they'll just have another also-ran like Google Wallet.
THere's a funky coil in the add-on case that you place near the read-head of the swipe reader. Clunky but it does have the advantage that it works with almost all swipe readers.
OTOH, that will be of zero advantage come next October when everyone will be using chip cards.
Reminds me of "a day late and a dollar short". But maybe Samsung has new ideas. Maybe.
Exactly -- Loop Pay clones the magnetic strip. So if somebody steals your phone the data for the magnetic strip of your actual credit card is stored on the device.
With Apple Pay, all that is stored on the device are essentially identifying keys that map to your actual credit card on a server somewhere. To invalidate those identifying keys you simply delete them from the server.
This solution affords you none of the privacy offered by Apple Pay and would likely still require a signature or a PIN number.
What's more, I don't think merchants are going to get the "card present" rate from Visa or MasterCard with an app/device that clones the magnetic strip.
Why bother? The EMV liability shift is later this year in the US. It won't make magnetic stripped cards instantly obsolete, but as time goes on I think merchants will give customers the stink eye when they try to use this older technology.
I think your confused. Have you forgotten that it took apple years to get on board with NFC. Google wallet was around long before apple pay.
Yeah but ...
There are two similarities between Apple Pay and Google Wallet
1. they handle payments
2. they use NFC
Beyond that, everything is different. And most especially the security and tracking. Google knows your account info and purchases. Apple knows neither.
So the merchant still gets to store YOUR Credit Card Number on their terminals?Samsung still doesn't get it...
What's more, I don't think merchants are going to get the "card present" rate from Visa or MasterCard with an app/device that clones the magnetic strip.
Would it kill Samsung (or any of the other android vendors) to come up with an original idea for once?
Why are they always trying to play catch-up?
Why not come up with something new?
I believe the card info is stored on the iPhone but is encrypted and inaccessible. It generates tokens to NFC terminals to verify with banks and so no cc info is passed from phone to NFC terminal. But definitely more secure.
So the merchant still gets to store YOUR Credit Card Number on their terminals?Samsung still doesn't get it...
That's would be Google Pay.How exactly does this use a magnetic field? Do you swipe your phone? They should have just done an ApplePay clone that works on NFC.