Hands-On First Impressions of Apple's New Payment Initiative, Apple Pay

[slcoss]

Maybe I'm missing something here but...

The secure thing about Apple Pay is having to use your finger with TouchID so no unauthorized persons can use it...

so, how does it work with the Apple Watch? What happens if someone assaults you and steals both your iPhone and Apple Watch. While they have no access to your cards, what stops them from making purchases at the moment?

 

[SilianRail]

Maybe I'm missing something here but...

The secure thing about Apple Pay is having to use your finger with TouchID so no unauthorized persons can use it...

so, how does it work with the Apple Watch? What happens if someone assaults you and steals both your iPhone and Apple Watch. While they have no access to your cards, what stops them from making purchases at the moment?

The Apple watch will recognize you have slightly different heartbeats.

 

[ToomeyND]

Why did the guy from the verge have to be a #$%^ to the uber driver? He could have just cancelled the request!

 

[T-Will]

I wonder if you will be able to scan in Visa gift cards?

 

[captain kaos]

What about ATMs? Guess I'll still have to lug around those bulky debit cards.

CommBank in Australia allows you to get money from an ATM with you phone now.

 

[Ray2]

that anecdote has nothing to do w/ this payment system. nobody at apple can know what your cc number is since it's on your phone in the new chip, only, and not on apple's servers. nor does apple log your transaction history. when using it a unique, temporary cc number is issued to the merchant, so they dont have it, either.

more secure than using a normal cc in every way.

I think you're missing the fact the people that use this capability will have iPhones and iWatches. They will have an iTunes account. That account will have their, very likely same, credit card info stored on Apple's servers. The problem that exists today and caught me, will continue to exist. Nothing to do with POS systems or neat new gadget tech. There will be credit card numbers stored on servers.

 

[applegeek97]

AT LEAST last 4 digits of the credit card will be unencrypted on the merchant end in order for them to print a receipt that you can match with the credit card monthly statement/bill.

Didn't I hear something about some type of Apple Pay rewards program ? Or was that just a rumor?

I think a rumor... But I hope it's real.

 

[jeremiah256]

If all you have to do to add your card to the Apple Pay system is to take a picture of your credit card, what's preventing your waiter or bartender from doing the same thing with your card? It sounds like it just got a lot riskier to use your credit card in public.

Apple's deal with the card companies allow them to verify that the card you took a picture of belongs to you via your unique device number stored on your phone. Card (John Smith - verified by bank as a valid card) + Device (John Smith - verified by Apple as owning the device attempting the purchase) = Apple Pay. Touch ID adds another layer of security in case someone steals your phone.

 

[SactoGuy18]

Actually, they kind of did mention this by saying Apple Pay will only be available in the US for now.

That could mean Apple may offer an update for Apple Pay specifically to handle refillable prepaid NFC mobile payment systems such as Mobile Suica and Rakuten Edy.

 

[caesarp]

Maybe I'm missing something here but...

The secure thing about Apple Pay is having to use your finger with TouchID so no unauthorized persons can use it...

so, how does it work with the Apple Watch? What happens if someone assaults you and steals both your iPhone and Apple Watch. While they have no access to your cards, what stops them from making purchases at the moment?

Watch and apple pay works with skin contact. Once you take it off your wrist, won't work for purchases without you activating it again. So thief with watch = no dice.

 

[3282868]

Do people actually read anything?
Your credit card info isn't stored in iCloud.

It was a joke. Relax

Correction on that matter: The accounts were hacked by using law enforcement devices to download their backup's, not just guessing their passwords (which was part of the problem).

 

[AllieNeko]

how so? I would avoid using it until Apple proven their security... with recent iCloud hack... I trust Apple even less... especially with all these private info...

P.S. this is just other thing (along with the watch) that Apple is trying to push iPhone 6 sale... There is absolutely nothing so special about iPhone 6... nothing

So you'd rather use something well known to be completely insecure (the magnetic stripe). I agree physical EMV cards are likely at least as secure, but remember, only Walmart and a few small shops take those now.

 

[MisakixMikasa]

So you'd rather use something well known to be completely insecure (the magnetic stripe). I agree physical EMV cards are likely at least as secure, but remember, only Walmart and a few small shops take those now.

The problem is that you still need to carry around your credit card. Most credit card equipped with chip which helps to improve security.

Apple Pay requires you have iPhone 6, which many of people will buy, but still count as small portion of phone users. It is not like very body in the earth will have iPhone 6. Also, you still need to carry around your wallet, credit card, debit card, since not every store accept Apple Pay.

What we need to do is unified a way across different vendor and OS, so that everybody use same way to pay and every store just need install one types of reader.

 

[AllieNeko]

The problem is that you still need to carry around your credit card. Most credit card equipped with chip which helps to improve security.

Apple Pay requires you have iPhone 6, which many of people will buy, but still count as small portion of phone users. It is not like very body in the earth will have iPhone 6. Also, you still need to carry around your wallet, credit card, debit card, since not every store accept Apple Pay.

What we need to do is unified a way across different vendor and OS, so that everybody use same way to pay and every store just need install one types of reader.

You mean... Like it is?

 

[AllieNeko]

As of today, my local Staples still has contactless disabled and my question was the first the lady had heard of Apple Pay or of them enabling contactless.

 

[scat999999]

To gain acceptance, retail stores have to support it. The same stores that have been too cheap for years to invest in chip and pin card readers. This is going absolutely nowhere. Nice idea but no one is interested in customer convenience or security. Just the cheapest way to do business.

Sometime next year, due to an agreement by the banks and credit card companies, ANY vendor that doesn't upgrade their credit card machine to one that reads the RFID embedded chips on a credit card, will be held completely liable for any fraudulent transactions they process. So they will be updating their hardware anyway. Apple's timing in rolling out Apple Pay was no coincidence. At 15 basis points of the Interlink fee every time Apple Pay is used, over time this may make more money for them than iTunes or the App Store has.

Cook may not be the genius visionary Jobs was, but he might make the company more money.

 

[sblemmy]

Sometime next year, due to an agreement by the banks and credit card companies, ANY vendor that doesn't upgrade their credit card machine to one that reads the RFID embedded chips on a credit card, will be held completely liable for any fraudulent transactions they process. So they will be updating their hardware anyway. Apple's timing in rolling out Apple Pay was no coincidence. At 15 basis points of the Interlink fee every time Apple Pay is used, over time this may make more money for them than iTunes or the App Store has.

Cook may not be the genius visionary Jobs was, but he might make the company more money.

I stopped in my local supermarket yesterday and was pleasantly surprised to see they had upgraded their POS system to include contact-less payments. This isn't a major chain either. They have 17 or so stores that are only located in Central-Eastern Pennsylvania.

Sure, contactless payments have been a dismal failure up until this point (Speedpass, Google Wallet), but this is what Apple does best: find a problem in the IT market and deliver a high quality solution. I expect by the end of 2015, Apple Pay and Google Wallet will be a huge hit with consumers, and Microsoft will be attempting to launch their own digital wallet.

 

[AllieNeko]

and Microsoft will be attempting to launch their own digital wallet.

They have, Apple is the last to this game:

http://www.windowsphone.com/en-gb/how-to/wp8/apps/wallet-faq

I will note that I think Orange France supports this, and may be the ONLY carrier to do so...