Yes, but it is well known that ApplePay is more secure than magnetic strips. I don't know how it fairs against chips, but ApplePay creates a single use token, which I imagine it is more secure than chips, but I don't know for sure.
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Target Says it Has No Plans Underway to Accept Apple Pay in Stores
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Yes, but it is well known that ApplePay is more secure than magnetic strips. I don't know how it fairs against chips, but ApplePay creates a single use token, which I imagine it is more secure than chips, but I don't know for sure.
Apple Pay is an emulation of a standard contactless chip card. Thus it sends dynamic authentication codes which make a transaction unique, just like a chip card does.
The difference is that it is using an account token instead of the real account number, although it doesn't know that. Visa, for instance, could suddenly decide to provision Apple Pay with the actual account number, and it would still work.
Likewise, chip and magswipe cards could be provisioned to use tokens if banks wanted to. In fact, there have been examples of this being done.
As a side note, Samsung's magswipe emulation also uses a token.
That's not what Larry L was saying/questioning and you misconstrued his point. He was saying security measures need to be executed the criminals don't ascertain on how to alter or implement. With everyone adopting the same technology, history repeats itself with the Target Breach, Home Depot Breach, etc. The bandwagon effect will ultimately have all retailers on the same page until another breach occurs, versus not having uniform standards across the board. That's what purportedly lead to the issues to some of these retailers currently experienced using dated technology to begin with. Protecting consumer data has to be ever changing and dynamic, being stagnant leads to complacency.
Second, I question you fully understand how Chip payments operate. Apple Pay and Chip readers are almost one in the same. Both Apple Pay and Chip readers use scrambled cryptic data, meaning if the information is intercepted, it's useless, versus having outdated technology with swiping and exposing the card information.
Lol, McDonalds is okay once in awhile. They're kind of unavoidable on road trips...along with Subway. I was at CVS yesterday afternoon. It definitely took awhile for the card release chime to sound. I almost forgot to count and once I started I got to 20, so it was probably 30 seconds, approximately. It's a newly constructed CVS so I assume they're using new terminals, fwiw.
I can't remember using Apple Pay. I used Samsung Pay a few times because Samsung incentivizes the usage of Samsung Pay. You can rack up a lot of rewards credits for purchases and they're actually useful. It works well, too, and works almost every place that I've tried it. So far.
Payments from smart phones are fun and convenient when they work. Not so much fun if you get a reader that won't work. Then it's embarrassing.
My post clearly says twice "I don't know". Because I don't know how it works.
Not really , I hate Walmart, the crowds, the how they treat their employees, what they do to local business. But they are quite a bit closer, and a little cheaper. But Apple Pay would be the straw that breaks the camels back.
I mean yeah, sure, Apple Pay is likely very very secure. They've been pretty straightforward regarding how their security model works. With that said, you're putting your trust in a private company to provide new technology. A certain amount of vetting is required (not necessarily the extreme kind). Such vetting could simply be letting the technology exist for a while, and observe how the rest of the market is using it. If there's no major hacks within a certain amount of time, then you can try trusting it yourself.
Nice of you to stand up for employees and local businesses by shopping at another store with about the same track record. Granted, only if the other store takes Apple Pay, but still nice. Wait....
Mike
That's because you get cooler NFC type cars or something I'm guessing. We have to insert our card in a reader and leave it there during the credit or debit transaction. Apple Pay is soooo much faster. Probably your card is better than ours too if it's tap to pay as well.
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Totally agree! And on top of that it wasn't mentioned that nobody remembers which stores you have to insert the card with the chip for.
There are a few cards in the US that do that but it's mostly been abolished due to them being seen by people as far less secure than even the magstripe. I don't really see us getting them any time soon in large quantities, if ever.
Shameless plug time. I'm doing the remembering so you don't have to.
Walmart, Target and CVS want to control the total experience and provide in house pay such as CVS Pay or Walmart Pay, which is code for make you use their app and be able to mine you for as much data that they can use and sell as possible. This is their resistance to Apple pay. Apple Pay is about you. They want it to be totally about them, such is what power does.
And too bad privacy aside, all of these apps SUCK MONKEYBALLS! Out of all these Apps, CVS is the worst and it still looks like an outstretched iPhone 4 app in 2017.