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Re: Apple Pay

From: Mountie Lee <mountie@paygate.net>
Date: Wed, 10 Sep 2014 17:03:37 +0900
Message-ID: <CAE-+aYKcimiymjaQzNP3M2vgG_L5Mk55_gzqjkQ7gsrEMhTBHg@mail.gmail.com>
To: Adrian Hope-Bailie <adrian@hopebailie.com>
Cc: Stuart Langridge <sil@kryogenix.org>, Kingsley Idehen <kidehen@openlinksw.com>, "public-webpayments@w3.org" <public-webpayments@w3.org>
Hi.

some more comments (question?)

who take charge of risk?
who verify customer signature(or PIN) is equivalent to card's?

maybe Apple can verify card holder identity with their internal resources,

I think the risk level is different from iTunes'



On Wed, Sep 10, 2014 at 4:05 PM, Adrian Hope-Bailie <adrian@hopebailie.com>
wrote:

> So, lets do some grade A speculation:
>
> I suspect that this is all built on standardised technology but given an
> Apple shine.
> For the system to work at "220,000 stores that already support
> contactless payments" this would have to be the case.
>
> Likely it is a combination of HCE (i.e. provision the phone's secure
> element over the air) and the use of the tokenisation spec already
> published by EMVCo (http://www.emvco.com/specifications.aspx?id=263).
> I wouldn't be surprised if Apple had a hand in developing that
> tokenisation spec with the networks.
>
> What is interesting is that Apple are therefore working with issuers
> primarily (whose cards are stored in iTunes), not acquirers.
> They don't yet manage the full payment life-cycle end to end although one
> can assume this will come soon when payments start being made from one iOS
> device to another.
>
> They haven't invented anything new (even if the US market thinks they
> have).
> Apple very seldom do invent anything new. All of their revolutionary
> "inventions" have been brilliantly executed versions of something that
> already existed in some form or another.
> However, we should not underestimate the power of the Apple brand coming
> into our world.
> They have just made contactless and mobile payments cool, even for the
> folks that are completely non-technical.
>
> Note:
> This is still debit-pull card based payments but apple is providing the
> complicated bits like the token store (or off-loading it to the card
> networks).
> That said, once users are used to using their phones to pay moving to a
> push-based mechanism becomes that much easier and will be key to P2P
> payments.
>
> On 10 September 2014 05:35, Mountie Lee <mountie@paygate.net> wrote:
>
>> Hi.
>> for the Apple Pay mechanisms,
>>
>> will it be correct as following?
>>
>> 1. real credit card information is stored at Apple side (same to iTunes
>> way)
>> 2. when user try to pay at store, a token (which is generated by apple,
>> virtual credit card format?) is pass to merchant.
>> 3. merchant send the token to their processor/acquirer
>> 4. the participating banks will verify the token with Apple
>> 5. settle money to merchant.
>>
>> does Apple Pay always need connected environment?
>>
>> regards
>> mountie
>>
>>
>> On Wed, Sep 10, 2014 at 7:31 AM, Stuart Langridge <sil@kryogenix.org>
>> wrote:
>>
>>> On Tuesday, 9 September 2014, Kingsley Idehen <kidehen@openlinksw.com>
>>> wrote:
>>>
>>>> On 9/9/14 1:57 PM, Stéphane Corlosquet wrote:
>>>>>
>>>>> Quoting:
>>>>> Our mission is to replace your wallet, starting by focusing on
>>>>> payments.
>>>>> ...
>>>>> Digging for your cards is antiquated.
>>>>> The magnetic stripe interface is outdated and insecure.
>>>>>
>>>>>
>>>> Yep!
>>>>
>>>> Just need to take a look at their APIs and other technical details.
>>>>
>>>> Apple is an important player in this space, for sure.
>>>>
>>>> Bear in mind that the antiquated magnetic stripe interface has already
>>> been cast aside in most places that aren't the USA. Here in the UK we've
>>> had contactless payment for years; it is not an exciting revolution, and we
>>> should be wary of presenting something that (frankly) drags the US into the
>>> 21st century as a thing that is super-important, because everyone else
>>> already has it.
>>>
>>>
>>>
>>> --
>>> New Year's Day --
>>> everything is in blossom!
>>> I feel about average.
>>>    -- Kobayashi Issa
>>>
>>
>>
>>
>> --
>> Mountie Lee
>>
>> PayGate
>> CTO, CISSP
>> Tel : +82 2 2140 2700
>> E-Mail : mountie@paygate.net
>>
>>
>


-- 
Mountie Lee

PayGate
CTO, CISSP
Tel : +82 2 2140 2700
E-Mail : mountie@paygate.net
Received on Wednesday, 10 September 2014 08:04:28 UTC

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