Re: Apple Pay - Security Description

On 2014-10-03 11:21, Ricardo Varela wrote:
> I may be missing something here. In my understanding what Apple has done is a (very smart, I give them that) EMVCo compatible implementation. The underlying capabilities are still Visa, Mastercard, AMEX et al, plus the bank network (eg: "the traditional payment industry") - I mean, even the spec was created by them
>
> My two cents: I still think its a bit difficult to have lots of groups continue pushing to "create an alternative" over structures that are not working yet, instead of "create a layer over what already works" and then "add an alternative implementation with the alternative". For innovation purposes, yes of course is a good thing, but for practicality/adoption/create momentum, not so much. Apple is big enough that they COULD have done an alternative and chose to do this instead - I may be wrong but maybe its a good thing to check why?

My core message is that it only works well because it is Apple, nobody else (of any significance) have implemented tokenization.

Creating a Decentralized and Webby version of their scheme would be great but there's (AFAICT) no push behind that, so for Secure AND Convenient payments our alternatives are super-providers like Apple, Google, PayPal and Alibaba.

Anders

>
> Saludos!
>
> ---
> ricardo
>
>
> On Fri, Oct 3, 2014 at 6:44 AM, Anders Rundgren <anders.rundgren.net@gmail.com <mailto:anders.rundgren.net@gmail.com>> wrote:
>
>     http://m.tuaw.com/2014/10/02/apple-pay-an-in-depth-look-at-whats-behind-the-secure-payment/
>
>     It is pretty clear that the traditional payment industry is YEARS after Apple.
>     The missing link is a way combining Security AND Decentralization.
>
>     The latter is something the "Super-Providers" have no reasons to bother
>     about since they don't need it.
>
>     So what's the problem then? The only people interested and *prepared* challenging
>     the super-providers represent economically and politically insignificant entities.
>     In addition, this lot is *highly divided* making alternatives poorly funded and marketed.
>
>     I'm a pessimist?  Well, where is your "brave" bank who gladly sinks a couple of million
>     bucks in a risky high-tech project that their competitors can also use?
>
>     Anders
>
>
>
>
> -- 
> Ricardo Varela - http://twitter.com/phobeo
> "Though this be madness, yet there's method in 't"

Received on Friday, 3 October 2014 09:50:37 UTC