W3C home > Mailing lists > Public > public-webpayments@w3.org > September 2014

Re: Apple Pay

From: Melvin Carvalho <melvincarvalho@gmail.com>
Date: Mon, 15 Sep 2014 10:48:10 +0200
Message-ID: <CAKaEYh+oTL7qDa1mCnN_yjf1RmvHpD58Jn0j__NSK74W40TrWQ@mail.gmail.com>
To: St├ęphane Corlosquet <scorlosquet@gmail.com>
Cc: Web Payments <public-webpayments@w3.org>
On 9 September 2014 19:57, St├ęphane Corlosquet <scorlosquet@gmail.com>
wrote:

> Apple just introduced Apple Pay in their live event at
> http://live.arstechnica.com/apples-september-9-2014-event/
>
> 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 The magnetic stripe interface is outdated and insecure.
> Most people who have worked on this have started with a self-interested
> business model and worked outwards..
> We've created a new payment process called Apple Pay
> ...
> Apple Pay is built into every iPhone 6 and 6 Plus using NFC, the standard
> for mobile payments.
> A new chip called the Secure Element stores your payment info encrypted
> and securely.
> ...
> Now, with just a touch, you've paid.
> ...
> When you add a new card, we don't store the number, and we don't give it
> to the merchant.
> You get a device-only number protected by the secure element.
> Every transaction generates a one-time code that is used.
> You can suspend payments using Find My iPhone, since it doesn't directly
> use your card there's no need to cancel it.
> ...
> Apple doesn't know what you buy, where you buy it, or how much you paid.
> Cashier doesn't even see your name, credit card number, or security code.
> ...
> Starting in the US with AmEx, MasterCard, Visa.
> Also supported by a number of banks, 83% of all credit card volume in the
> US.
> You can use it in 220,000 stores that already support contactless
> payments, also working with Macy's, Bloomingdale's, Wallgreens, Staples,
> Subway, other stores.
>

Note:
http://www.dumb-out.net/apple-pay-takes-major-hit-wal-mart-best-buy-will-use-system/6515

Wal-Mart and Best Buy announced that they would not be implementing the
scanners necessary for Apple Pay to be used in their stores. Apple Pay uses
a near field communication (NFC) to connect with the latest iPhone to allow
the user to make purchases from the device instead of using a card.

The primary arguments against using NFC is cost. After the Apple keynote
announcement that the new iPhone 6 and Apple Watch would be equipped with
the tap to pay technology, a flood of inquiries came into installers of the
hardware as to the cost of acquiring and maintaining the necessary
equipment required to service these customers. News that each individual
unit would cost around $500 to purchase, not to mention install and
maintain, quickly disenfranchised many retailers that could not afford the
high buy in price for the new technology.


>
> --
> Steph.
>
Received on Monday, 15 September 2014 08:48:40 UTC

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