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Samsung Acquires Apple Pay Rival LoopPay
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YOU TRUST A ANDROID DEVICE lol
I wouldnt trust ANY android app or device with my credit card info... THATS just a bad idea. The security of EVERY android device is pathetic...... BAD IDEA!!
I wouldnt trust ANY android app or device with my credit card info... THATS just a bad idea. The security of EVERY android device is pathetic...... BAD IDEA!!
So what's the purpose of the encrypted storage on the iPhone that's specifically for Apple Pay?
This strikes me as a very useful and convenient transitional technology to use during the next 6-12 months. As long as it works nearly every time, easily and securely, coupled with a fingerprint reader as quick and safe as Apple's, it's not a bad thing. Hopefully Samsung can back the idea up with really solid hardware and software. (It's not forward-looking and won't benefit online shopping the way Apple does, though.)
Agreed. And no chip-style processing which will be important come October.
AP will be fine but swipe and swipe-emulation will be hurting.
First - Apple didn't come up with mobile payments
Second - why anyone would be against this is silly. The more adoption of mobile payments - the better for all.
Apple is usually not the first on a technology, but when they get there they nail it. Yeah, took years to include NFC - but for a technology this you-can't-screw-this-up important, they waited (and prepared!) for years for a confluence of events before delivering
Pay.Sure there was NFC "wallets" before. None of them went anywhere.
Now, because Apple nailed it with one product, none of the competitors will go anywhere. A magnetic-field sled? really? even if built into the phone, it's maintaining compatibility with exactly what Apple is well on its way to replace outright, akin to announcing support via a USB floppy-disk when Apple ditched floppies entirely in favor of CDs, thumb drives, and AirDrop.
There's a difference between biding your time while others screw things up, vs scrambling to catch up to someone else's big win. To use the analogy: Sure Google was moving the puck, but not getting anywhere with it; Apple spent the NFC game skating to where the puck would be and could make a winning shot with it; Samsung saw Apple hit the puck and now is diving to block it, but is too far from the goal to stop it.
At least in the U.S. and most of Europe, this magnetic-only technology will be obsolete by the end of the year with credit card providers using chips if the merchant wants to protect itself against fraud.
Maybe this is good for some countries, but from my perspective, it seems that Samsung just bought some obsolete technology.
Edit:
The more likely scenario is that Samsung bought the people who implemented the technology to get a jump start on getting into the credit card provider industry. Still, seems to be a bad move on their part.
Maybe this is good for some countries, but from my perspective, it seems that Samsung just bought some obsolete technology.
Edit:
The more likely scenario is that Samsung bought the people who implemented the technology to get a jump start on getting into the credit card provider industry. Still, seems to be a bad move on their part.
Late perhaps, but as usual they brought the party with them.
It won't be long before ApplePay is the dominant mobile payment solution. It's already gained far more traction than any service before it.
So Samsung has fingerprint reading technology that presumably provides a worse user experience than an ominous dimple on the back of a motorola cellphone and they plan to beat ApplePay by pairing it with obsolete payment tech.
The compelling aspect of ApplePay is NFC and generation of new security code, making it a true innovation in mobile payments in terms of form factor and security.
They'll market it by stating it reduces what you need to carry, and then make their next phone the size of a surfboard.
And in regards to the loyalty cards etc... There's an app for that.
The compelling aspect of ApplePay is NFC and generation of new security code, making it a true innovation in mobile payments in terms of form factor and security.
They'll market it by stating it reduces what you need to carry, and then make their next phone the size of a surfboard.
And in regards to the loyalty cards etc... There's an app for that.
The problem is this something that a proliferation of "standards" doesn't help. The more adoption of incompatible mobile payment standards "standards" mean more cruft at the point of sale, more breakdowns, and more customers dumping it all in favor of obsolete-but-works "plastic".
It keeps the Device Access Number secure so it can't be cloned onto another device.
Different devices (e.g. an iPhone and an iPad) get individual DANs but I'm sure that hackers would like to clone them. The secure storage prevents that.
As long as the device can handle the transaction - doesn't much matter. They don't need to standardize on "one."
Card readers now take all types of credit cards. Would you really want one swiping device per credit card? No different.
Havent had the chance to use Apple Pay myself, but the implementation and the technology is better no doubt. i love the idea of touchID combined with NFC payment that goes directly to my card without google or especially samsung's middleware.
But Samsung buying loop pay isn't doing a "copycat" or "me too" thing here. They're expanding their existing NFC based payment portfolio by adding additional application and products to their existing library.
the people screaming "copying" are playing their ignorance card pretty loudly.
And Apple is not late to the party... The others arrived before it was ready to begin, when the metaphorical speakers were still being set up, and the caterers were still placing the plate settings. Apple's timing, as usual, is exemplary, and entirely consistent with their roadmap, if you look at the steps taken to enter mobile payment - a path begun (and dare I say rumoured) before either Samsung or Google rushed to market with sub-par offerings.
Hey guys, remember CurrentC?
It's still coming, unfortunately. It's in pilot testing in several Target stores.
Invokes visions of some frat boys throwing a lame party in a hotel room, then complaining when [insert favorite superstar here] shows up in the next room, throws open the doors & bar, and invites everyone word can get to - and the frat boys complain "hey, we had a party going here FIRST!"
So this is a non-starter in the UK, pretty much? We're a chip and pin country.. I can't remember the last time I saw someone swipe.
Also, isn't loop pay a big security risk for car details being stolen? I've heard of too many peoples cards being double swiped when handed over- once on the reader for payment, again on a detail stealing reader.
Wouldn't this loop pay make that easier? If it's blasting the info, surely another reader just nearby (under a counter in a petrol station, or under the desk at a festival merchandiser), can just grab those details too?
I come uneducated on loop pay. Only really heard about it a short while ago, and didn't bother to read into how it works.
Also, isn't loop pay a big security risk for car details being stolen? I've heard of too many peoples cards being double swiped when handed over- once on the reader for payment, again on a detail stealing reader.
Wouldn't this loop pay make that easier? If it's blasting the info, surely another reader just nearby (under a counter in a petrol station, or under the desk at a festival merchandiser), can just grab those details too?
I come uneducated on loop pay. Only really heard about it a short while ago, and didn't bother to read into how it works.
No, but they are ready to launch the next generation BitCoin.
They are going to call it Samsung 2BitCoin.
Agree with the bolded.
It's not that people are against this particular move - I just think its somewhat hard to understand given the tech here seems to be on its way out and Samsung hasn't shown any initiative to get something of their own off the ground (regardless of whether or not they have a mobile payment solution prior, how many people know what its called and how many people use it?).
Google Wallet and ApplePay are the future. Android OEMs just need to get on board with GW - but then they don't get their piece of the pie.
Like it or not, when Apple enters an arena, everyone else stops, looks and adjusts. Apple is rarely first but they almost always make the biggest splash and affect the industry the most.
So the DAN is not the token, it is just the device version of the cc number? Then that part of the phone generates the token which is read by the NFC terminal, verified with the bank which verifies with the DAN on the iPhone? Fair enough. But does that mean you can't be in Airplane mode or somewhere with poor phone coverage?