Re: Apple Pay

On 9 September 2014 19:57, St├ęphane Corlosquet <>

> Apple just introduced Apple Pay in their live event at
> 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 The magnetic stripe interface is outdated and insecure.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.

Coinapult's response :)

> --
> Steph.

Received on Wednesday, 10 September 2014 16:03:37 UTC