The phone holds on to a credit card number and some extra information. What service is happening here? Is Apple doing something meaningful every payment?
So it doesn't generate a second card number like other things I've used?
But anyway it sounds like the answer to my question is no, Apple is not doing anything meaningful per payment. They play a role in setting up a card and that's it. Is that accurate?
Of course they are, passed on as increased prices for everyone, which is exactly the problem. Sure the banks here would like these fees gone, but it also hurts society in general.
The phone holds on to a credit card number and some extra information. What service is happening here? Is Apple doing something meaningful every payment?
The phone doesn't store your card number. Apple brokers a token at setup, secures it on-device, and manages it afterward (suspend, re-issue).
So it doesn't generate a second card number like other things I've used?
But anyway it sounds like the answer to my question is no, Apple is not doing anything meaningful per payment. They play a role in setting up a card and that's it. Is that accurate?
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A service for whom? It has already been paid for by the users when they bought the iPhone.
Users aren’t paying the fee though
Of course they are, passed on as increased prices for everyone, which is exactly the problem. Sure the banks here would like these fees gone, but it also hurts society in general.
1 reply →