with its current estimates of working on 90% of existing hardware...that is a hell of a lot more places then those that take ApplePay
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Samsung Acquires Apple Pay Rival LoopPay
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Except as usual Apple is obtaining more success in a few months than Google in a few years....
I'm fine with it
Personally, I'm all in favor of competition and bringing awareness to the demise of the physical wallet.
Personally, I'm all in favor of competition and bringing awareness to the demise of the physical wallet.
ONE person uses. it. And Just want to point out it's not available anywhere but the US with NO plans to expand. Apple pay is expanding.
Millions of people have Google Wallet... but statistically no one uses it.
http://www.theguardian.com/technology/2014/sep/25/google-wallet-apple-pay-nfc
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And this is nothing about who's ball is bigger... Apple's tech is just way better on this one.
I said "no one copied" - not "Apple didn't copy".
I know you want me to be some troll so you can argue - but I'm not. NO ONE copies a general idea. Individual implementations stem from that idea and can have varying degrees of impact on the industry as a whole.
Again, slowly.....
NO
ONE
COPIED.
Who cares about S3 NFC payment capabilities? Nobody.
Who cares about Apple pay? A lot of people in a very few months.
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Yes, and it was a totally gimmick.
I was referring ONLY to Google pay. And I mentioned the Japanese and Scandinavian companies that have had it for years.
Nothing to do with time Having known at least 10 people who've had their card clones / stolen (I am one - see above) a token / fingerprint system is way more secure.
Of course they get the card present rate. No one knows it isn't the real card in the chain. That said, it won't work once EMV gets fully enabled. You'll just get a message asking for the card to be inserted and you'll need to use the real card.
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 deliveringPay.
... 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.
Without disagreeing with your comment, I will add that Apple's "wait" had two other very important aspects. First is that it waited for EMV to do "tokenization", which is critically important to AP. The second - perhaps fortuitous and accidental - is that the change to chip cards (mandated by EMV) happens by next October. So most POS terminals will have to be upgraded or replaced by then, and the overwhelming scheme is to include NFC capability as part of that upgrade/replace scenario. Google didn't have that years ago when it rolled out its Wallet - there were some NFC-enabled stores but not that many. But with Apple making its move a year before the change deadline, it provided a lot of rationale for vendors of POS systems to push NFC as part of the replace/upgrade package, and for companies to buy it. They already had to upgrade/replace (with few exceptions) so adding the NFC "thingie" into the package seems like an easy sell. After all, for many companies the major cost is not the hardware but the fact that you have to go around and touch every piece of equipment. The last thing they want to do is to have to do that twice.
Coming back to your original point - Samsung's reaction is interesting. Buying LoopPay is an obvious play - except that its core mechanism has only about six months to live. Samsung does some unusual things but this doesn't seem to be one of them. There's obviously something else in the company that S finds valuable. Maybe technology-under-development, maybe customer base, maybe something else. But there has to be something else - the basic LoopPay stuff is too short term.
I guess we'll see "in the fullness of time"
Wanna see why LoopPay sucks compared to ApplePay? Go watch some YouTube videos of LoopPay in action.
People are fumbling around trying to get the magnetic reader to recognize the magnet loop. People are handing their phones and fabs to the person at the register to press this button to get it to work. The experience is just poor.
And the security is bad in its current form... no fingerprint? No tokenization? Stores your stripe information online?
It's just a really awkward "solution".... or more like HACK.
People are fumbling around trying to get the magnetic reader to recognize the magnet loop. People are handing their phones and fabs to the person at the register to press this button to get it to work. The experience is just poor.
And the security is bad in its current form... no fingerprint? No tokenization? Stores your stripe information online?
It's just a really awkward "solution".... or more like HACK.
Actually yes, NFC payments did exist...the thing Apple did was take an insecure method of payment, add a fingerprint reader for secure payments and on top of that, add payment tokenization so your credit card number is even further protected.
Not a big deal right? You make it sound like Apple cut a chip out of a credit card and stuck it in the iphone enclosure.
Looppay won't take off because of the lack of security. People recognize the benefit of tokenization unless they have Samsung colored glasses on.
Breath breath..This wasn't directed to you.
I mentioned post #21 as a reference of how people generally feel about how "samsung copies" in this thread.
I worked on various programmes for global payments for a number of years, in fact my team and I predicted that a non-bank player (we specifically mentioned Apple) would come along and disrupt the status quo. Your point is spot on, but in fact it's the underlying architecture of the whole Applepay proposition that is the real disruptor in the payments business. It is so different to what other payment service providers are currently offering and so different to what the card companies business model relies on that it could, especially if Apple licence it for use on other platforms, completely disrupt the business.
To be clear, I spent more than a year (and a lot of time and resource of my client) in looking strategically at the global payments business as a whole (of which consumer transactions are just a part) and the model Apple has come up with is genuinely revolutionary - to the extent that when it was announced even I was surprised by the thinking behind it. The technology is a part of it, it is the underlying payment business methodology which is impressive. The banks and card providers must have been a tad shocked and will, almost perforce, eventually do business with Apple globally.
That said, in my view, for what it's worth, Apple will/must eventually roll this out to other platforms under licence, this is one thing they would be foolish to try to keep for themselves.
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Congratulations! You found loophole in looppay...
TBH though, I don't see this as per copying payment from one to another... but more of 'OMG, ApplePay is successful, let's create another SamsungPay system to be in the news again'...
Lloyd - I'll agree that Google Wallet was a good move into mobile payments. It's unfortunate that it was not more successful, but it wasn't (*)
But please don't equate Google Wallet and Apple Pay. There are certainly many things in common but there are also many significant differences. The two are NOT the same. Let me enumerate a couple of the more significant ones ...
1. you paid for things three years ago with GW/NFC. And Google knows exactly what those things are. Apple has no info about AP transactions because those transactions are between you/merchant/EMV/bank. Apple is NOT an intermediary, as Google is in the GW scenario
2. Google has your credit card info. Apple does not (I assume here that Apple does not capture your CC info as you register your card. Although this would be possible, Apple says that it does not and no researchers have suggested otherwise. So I'll stick with my assumption). Nor does Apple have your purchase history, as does Google. So here we have two items that Apple did NOT copy from Google - thankfully.
3. your actual credit card number (known as Primary Account Number - PAN) is not stored anywhere on your iDevice or on Apple's servers. It is transmitted to the card provider (EuroPay/MasterCard/Visa -- EMV) as part of the registration process (see (2) above but this is NOT stored on your device. Instead, the Device Access Number (DAN) is stored instead. It's a device-specific credit card look-alike number but can't be used on an actual card.
(*) part of the lack of success is that NFC wasn't deployed more widely. Apple's skate-to-where-the-puck-will-be strategy is noting that the adoption of chip cards will cause almost almost all the POS terminals in the U.S. to be upgraded or replaced to comply with these EMV requirements. Unfortunately for Google, it was too early to the NFC party.
Apple doesn't come up with 'new' things either.
TouchID, for example, wasn't an Apple invention. Apple purchased AuthenTec who developed the technology, and then Apply put it into their phones.
Samsung is doing exactly the same thing with Loop. Also, Google Wallet is already available on Samsung, they're just looking to provide more options.
I'd say that implementing a mobile payment system that doesn't rely on NFC is a great idea - considering that no countries outside Australia have implemented it universally and already phased out swiping and signing completely.
I like 's idea of innovation: watch what Google does, follow, copy every feature, then repeat.
Please tell the class where got the crazy idea for a Notification Center? Rich notifications? Virtual split keyboard? VIP mail classification? Widgets? Quick access apps on the lockscreen? Swipe keyboards. Word predictions when typing? My personal fav, "Hey, Siri" which was a direct ripoff of OK Google.
Samsung has copied a lot, but don't think for one second that Apple hasn't done the exact same things to others. iMessage was a complete and utter BBM ripoff!
Wow the amount of fake Apple orgasms is unusually high in this thread. Though I have to be thankful since I've always wanted to see a thread that got as crazy as this one.
I think what most people here are ignoring is that Apple Pay - as 'popular' as it's gotten, isn't widely accepted everywhere. Both have their pros and both have their cons. LoopPay - at it's current stage - only uses a 4 digit pin to protect the credit card information on the device. Samsung has adapted fingerprint recognition into their latest flagship devices. With the acquisition of LoopPay, isn't it obvious that the next iteration of Samsung phones (maybe the S6 - but as a firmware update maybe?) that access to LoopPay will be through the fingerprint reader rather than a pin number.
AS for EMV at the end of the year - I'm actually interested in how Samsung will tackle this. LoopPay mentioned that they were working on something, and I'm genuinely curious how far LoopPay will actually go.
I think what most people here are ignoring is that Apple Pay - as 'popular' as it's gotten, isn't widely accepted everywhere. Both have their pros and both have their cons. LoopPay - at it's current stage - only uses a 4 digit pin to protect the credit card information on the device. Samsung has adapted fingerprint recognition into their latest flagship devices. With the acquisition of LoopPay, isn't it obvious that the next iteration of Samsung phones (maybe the S6 - but as a firmware update maybe?) that access to LoopPay will be through the fingerprint reader rather than a pin number.
AS for EMV at the end of the year - I'm actually interested in how Samsung will tackle this. LoopPay mentioned that they were working on something, and I'm genuinely curious how far LoopPay will actually go.
i'm sure LoopPay is working on their next iteration of their system. Samsung, being a such a big company as it is, is likely to have done their due diligence prior to paying the company. What company big or small will buy IP if it is obsolete in 6 months.
As for the fake Os, it's probably the lube that was included with their iphone purchase, compliments of Cook.
Sorry, dude. If you think that Apple Pay and Loop or Google Wallet are the same then you need to bone up on your technology.
They are not. Not even very close. Read the recent posts for details. If you're still puzzled then post again with questions - I'm happy to answer questions (limited tolerance for trolls - I hope you're not one)