Suggestion for Authenticators

[Madelaine McMasters]

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Sassy Romano wrote:

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Perrie Juran wrote:

 

Merchants are instructed that the "Ask For Photo ID" is not valid, that the card MUST be signed.

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Yes I know and i'm happy to ask for the appropriate store manager and ask if they'd rather validate me via a government issued ID with photo and signature or just accept a scrawl that a card thief had copied.

I don't mind not purchasing.  I've had little challenge to it so far but yes, I know the policy is signed and it's utterly flawed.

As for ApplyPay, Madeline, yes Apple hae finally caught up with the rest of the providers who have been doing NFC for a while.  Again, don't know about the US situation but we've certainly been doing NFC payments using bank cards in the same way for several years.

Having said that, the MiFare Classic NFC card that was widely used wasn't so great for the vendors once it had been cracked.

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Apple Pay isn't really about NFC, which is a very old, very short range (an advantage), wireless link. It's really about tokenizing the transaction (which eliminates the MiFare vulnerability), and achieving scale. Apple Pay's transaction tokenization lowers the fraud coverage costs. And this is how Apple is able to (again, if what I read is correct) undercut other POS transaction providers by shaving a quarter point off the credit provider's transaction fee.

It took an 800lb gorilla to get all the 500lb gorillas to play together. That may be Apple's biggest contribution.

[Sassy Romano]

We will digress probably at this point but Apple has just released a phone with year old technology which is outclassed by competitors.  It's hugely expensive, niche, NOT the largest market sector holder outside the US and as such, the number of ApplePay transactions compared with the sheer numbers of other individual transactions will probably trend this to insignificance.  Let us review the result in a year?

With that, i'm exiting the thread