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Posts by plovell

"secure cloud-hosted network"   Yeah. Right. I guess he wants us to forget about the recent hacks on Target, Home Depot and JP Morgan Chase.   Let's see - the MCX database will contain - bank debit details and authorization - social security number - driver license info (presumably including birthdate)   Am I alone in thinking that this database would be a big, fat, juicy target for hackers bent on identity theft?
I believe you can use a debit card. It's just credit cards that are excluded AFAIK.
It will be interesting to see WalMart's sales for the quarter when they stop taking credit cards. Very interesting.
Sure. But Apple does not want to run production plants like this. That's not their speciality, and it's why they did a deal with GTAT. And if Apple did acquire GTAT it would also take on the liabilities. There's no good reason to do this.
Tom: it is true that no charges have been filed and, unsurprisingly, no evidence has been made public (other than the SEC fillings). So it is then a stretch to accept your assertion "indicates it's unlikely that the trades were illegal". It is true that there is nothing public but that is quite normal. My reading of the scant available evidence is that the sales plan was filed with the SEC after the production problems had become apparent. We don't know how much "bad news"...
This is not my experience with iPhone 6 and iPad Air 2. Both are solid.  Both were updated USB/iTunes.
Maybe.  But allow me to put on, for a moment, my Devil's Advocate hat. The cost to the merchant (i.e. the "fee") is the same for an Apple Pay transaction and a credit-card transaction in the store. If the retailers are really wanting to push back on the fee then why are they still accepting credit cards? Why don't they insist on cash or debit ??  I tend to agree with you - eliminating the fee is a major goal. But they've done a terrible job of execution on that...
I can't think of a way for banks to know (possibly because lots of details about CurrentC are not yet known). But I'm getting the feeling that it will be a train wreck in slow motion. Prepare the popcorn.
Well, yes and no. But today, mostly no. Not because of the "no PIN" part but because the cards we're using today don't have chips. So all the info is stored unencrypted and unprotected in the magnetic stripe. And today's PayPass/paywave cards have the same unprotected info available through NFC/RFID to anyone with a reader. That is why I do not use them - the info can be read at a distance of about three feet and then written onto a mag-stripe card, and used in a store (no...
 Chip+PIN typically uses a slot reader for "full" transactions, including the PIN. Many (all?) of the cards can also be used contactless (i.e. tap-to-pay) but they aren't "full" transactions as far as I know (i.e. if you tap then you don't enter a PIN). It's true that these would no longer work but a standard card-in-the-slot transaction will work fine even without NFC.
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