> It points to Google's Android, which supports multiple wallets and does not collect a fee from card issuers for contactless payments. It suggests Apple would not be able to continue to charge "substantial fees" if it were forced to support other mobile wallets on Apple devices.
This described supporting multiple wallets, which I don’t care about. I don’t want multiple wallets, I want one wallet.
Another alternative (in the US, at least) is tapping a piece of plastic instead of your phone and not inviting any of the tech giants into your transactions at all. What an unforced error, to shovel more of your data at them needlessly.
> is tapping a piece of plastic instead of your phone and not inviting any of the tech giants into your transactions at all.
Apple doesn't see individual transactions when Apple Pay is used at retail stores' tap-to-pay terminals. The secret card payment token is sent from the phone to the credit-card's issuing bank and bypasses Apple servers. In this way, using Apple Pay is more secure and private than plastic cards because the real card number details remains hidden from the merchant.
The iPhone does contact Apple servers to add a new card to the digital wallet. Apple servers then contacts the issuing bank to get the secret token the bank generates and then puts it in the digital wallet. Conceivably, the "add a new card to digital wallet" could also have been done without Apple in the middle but it would require a much more convoluted, less secure, and more user-hostile workflow to do it. (e.g. the end user would have to know what bank endpoint to contact, manually enter the long and cryptic digits of the secret token, or maybe scan a QR code on a computer screen that's vulnerable to interception and phishing.)
Importantly, this provides a degree of protection from compromised PoS terminals. Ever since I switched to nearly exclusively using Apple Pay for physical shopping I’ve had no unauthorized charges, whereas back when I was still tapping, inserting, or swiping my card I’d need to call and get a card or two replaced almost every year.
Yeah. But this is the US. This is all we’ve got. Having the central bank do it would be communism, and that’s bad. I learned about it from Saturday morning cartoons.
yea, feels like tech giants do not have access to this already? they know where you are and what you do every second of every day, keeping away from ( while they know I was a target ) what was the amount on my receipt is really giving it to them :)
There is already apple wallet where i can put any of my banking cards…
Not "any". The bank themselves need to partner with Apple Pay and presumably pay Apple the percentage cut from the article.
if apple wallet works on android and I have a choice, that's competititon
if apple wallet requires apple phone, and google wallet require android phone, that not competition.
competition is good. no competition should be regulated out of existence.
I have used both but I dont know the difference
How does it work on Google Wallet?
Article says Google wallet works just like Apple Pay, except they don’t charge a 0.15% fee.
Do you mean this part?
> It points to Google's Android, which supports multiple wallets and does not collect a fee from card issuers for contactless payments. It suggests Apple would not be able to continue to charge "substantial fees" if it were forced to support other mobile wallets on Apple devices.
This described supporting multiple wallets, which I don’t care about. I don’t want multiple wallets, I want one wallet.
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Why shouldn’t Apple be able to make money for the service they created?
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Another alternative (in the US, at least) is tapping a piece of plastic instead of your phone and not inviting any of the tech giants into your transactions at all. What an unforced error, to shovel more of your data at them needlessly.
> is tapping a piece of plastic instead of your phone and not inviting any of the tech giants into your transactions at all.
Apple doesn't see individual transactions when Apple Pay is used at retail stores' tap-to-pay terminals. The secret card payment token is sent from the phone to the credit-card's issuing bank and bypasses Apple servers. In this way, using Apple Pay is more secure and private than plastic cards because the real card number details remains hidden from the merchant.
The iPhone does contact Apple servers to add a new card to the digital wallet. Apple servers then contacts the issuing bank to get the secret token the bank generates and then puts it in the digital wallet. Conceivably, the "add a new card to digital wallet" could also have been done without Apple in the middle but it would require a much more convoluted, less secure, and more user-hostile workflow to do it. (e.g. the end user would have to know what bank endpoint to contact, manually enter the long and cryptic digits of the secret token, or maybe scan a QR code on a computer screen that's vulnerable to interception and phishing.)
Importantly, this provides a degree of protection from compromised PoS terminals. Ever since I switched to nearly exclusively using Apple Pay for physical shopping I’ve had no unauthorized charges, whereas back when I was still tapping, inserting, or swiping my card I’d need to call and get a card or two replaced almost every year.
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All EMV transactions (including Apple Pay in a tap to pay scenario) don’t give the retailer the full card number.
don’t be silly, apple displays me exact amount on the screen, in plain fucking text, after each transaction - that’s crazy you wrote this
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That is much better, but you're still paying visa/mastercard some percentage fee for a service which should be provided by e.g. the central bank.
Banks in the Netherlands used to have their own system for 30 years. It was free. It worked.
But it was too much work and didn't make the banks money so now we are also left to the American Visa parasite.
Yeah. But this is the US. This is all we’ve got. Having the central bank do it would be communism, and that’s bad. I learned about it from Saturday morning cartoons.
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yea, feels like tech giants do not have access to this already? they know where you are and what you do every second of every day, keeping away from ( while they know I was a target ) what was the amount on my receipt is really giving it to them :)