or Connect
AppleInsider › Forums › Mobile › iPhone › MasterCard acknowledges it needs Apple to bring NFC payments into the mainstream
New Posts  All Forums:Forum Nav:

MasterCard acknowledges it needs Apple to bring NFC payments into the mainstream

post #1 of 64
Thread Starter 
Credit card card companies are working to push consumer payments away from plastic cards and into more secure electronic forms, but a MasterCard representative has acknowledged that getting NFC into Apple's iPhone will be critical in advancing the technology into the mainstream.

In an interview with Fast Company , Ed McLaughlin, MasterCard's head of "emerging payments," noted that "we're rapidly moving to a world beyond plastic," but added that progress in rolling out electronic payments has incremented at a slow pace.

Electronic "tap to pay" systems typically rely on NFC (near field communications), a standardized technology that can enable smartphone users to bring their NFC-equipped phone into proximity with a contactless payment device, such as at a checkout line or on a vending machine or transit turnstile.

MasterCard has worked to roll out its own PayPass system using NFC-equipped cards, in tests that began nearly ten years ago in the US. The NFC cards include an embedded, unpowered chip read by an active reader, but popularity for the system hasn't been enthusiastic.

Visa has its own system it calls PayWave, which it also licensed to Google. At the end of 2010, Google announced NFC support in Android 2.3 Gingerbread, allowing developers to interact with static NFC tags similar to optical reading of barcodes.

The company also launched the Google Wallet initiative last summer, intended to enable NFC-equipped smartphones to make purchases at a variety of merchants as an alternative to carrying a credit card, working with both PayWave and PayPass.

Apple needed for Critical Mass

Austin Carr, who interviewed McLaughlin, noted in his report that in speaking to merchants who had installed Google Wallet devices, none could report that anyone had ever used the system, with one explaining that it was installed "because Google gave it to me."

Getting buyers to actually use NFC is, McLaughlin explained, "a combination of having a critical mass of the merchants, which is what you're seeing right now, and getting devices into the hands of consumers."

He added, "I don't know of a handset manufacturer that isn't in process of making sure their stuff is PayPass ready," and when asked if that included Apple, he backtracked, "Um, there are...like I say, [I don't know of] any handset maker out there. Now, when we have discussions with our partners, and they ask us not to disclose them, we don't."

When pushed to say whether "the contactless payments industry needs Apple to hit critical mass," McLaughlin answered, "Well, anytime someone with a major base moves forward, it advances what you're doing. So of course."

At CES earlier this month, Bill Gajda, Visa's Global Head of Mobile Product told Fast Company, "I can't tell you when Apple is going to put NFC in the next version of the iPhone, but we've had discussions with them around the PayWave standard and they've asked to look at our specification and certification process so that when they decide to do something those lines of communication are open."

Apple's electronic payments strategy yet to unfold

The report also noted that "Visa's hoping to make itself the go-to point for this solution, so 'handset manufacturers don't have to do a deal with 26,000 banks.'"

Unlike individual banks that issue cards through Visa, MasterCard or other credit card agencies, Apple has the ability to bill users' transactions to their own accounts, as it already does with iTunes and the App Store.

This could result in Apple becoming an alternative to MasterCard, Visa or eBay's PayPal for handling electronic payments outside of its own, broadening its relationship with customers outside of online and retail transactions to also cover their other purchases.

Google had originally negotiated to partner with eBay to handle its Google Checkout/Wallet service, but during negotiations with its PayPal executive Osama Bedier, Google offered him a job instead and abandoned plans to partner with eBay, using Bedier to build a competing system for Google instead, using his knowledge of eBay's future plans.

PayPal subsequently sued Google over misappropriation of trade secrets and breach of fiduciary duty, and banned Google Wallet as a form of payment on eBay.
post #2 of 64
Need Apple? Personally, retailer support is more important. What's the point of NFC if I can only use it on certain few retailers, regardless whether I have an Apple device or not? Have everything, including public transportation, ATMs, vending machines, retailers, grocery stores, ticket booths, all use the same standard, then NFC will gain traction. Until then, it's easier to swipe my credit card.
post #3 of 64
Quite readily agree to both of you. If Apple implement it then retailers have to provide it. Still, retailers need to follow McDonalds; always in the forefront. Maybe other American fast food joints, donut places and ice cream parlours need to take heed and follow. No, not the gym!

Can't see Motorola or Samsung provide such an influence, despite their effort to win into people's heart and mind (see prev news).
post #4 of 64
What?! This can't be done on the back of Samsung Galaxy and Tab alone???

How would Apple people use the NFC... They're all waiting in some line, camping out with hours to go before the next release, right Samsung?!
/
/
/

Ten years ago, we had Steve Jobs, Bob Hope and Johnny Cash.  Today we have no Jobs, no Hope and no Cash.

Reply

Ten years ago, we had Steve Jobs, Bob Hope and Johnny Cash.  Today we have no Jobs, no Hope and no Cash.

Reply
post #5 of 64
They also need carriers to agree. Right now AT&T, Verizon and T-Mobile are building their own competing NFC payment system call ISIS.

Verizon has already allegedly blocked Google Wallet on the Galaxy Nexus.
post #6 of 64
<<<Google had originally negotiated to partner with eBay to handle its Google Checkout/Wallet service, but during negotiations with its PayPal executive Osama Bedier, Google offered him a job instead and abandoned plans to partner with eBay, using Bedier to build a competing system for Google instead, using his knowledge of eBay's future plans.

PayPal subsequently sued Google over misappropriation of trade secrets and breach of fiduciary duty, and banned Google Wallet as a form of payment on eBay. >>>
\t
Sounds familiar?! Snake in the grass did the same to Apple with the iPhone.
post #7 of 64
Quote:
Originally Posted by AppleInsider View Post

Google had originally negotiated to partner with eBay to handle its Google Checkout/Wallet service, but during negotiations with its PayPal executive Osama Bedier, Google offered him a job instead and abandoned plans to partner with eBay, using Bedier to build a competing system for Google instead, using his knowledge of eBay's future plans.

PayPal subsequently sued Google over misappropriation of trade secrets and breach of fiduciary duty, and banned Google Wallet as a form of payment on eBay.

Can't Apple lawyers just use this in courts over Google's Android and say to the court it is their "Modus Operandi"?
/
/
/

Ten years ago, we had Steve Jobs, Bob Hope and Johnny Cash.  Today we have no Jobs, no Hope and no Cash.

Reply

Ten years ago, we had Steve Jobs, Bob Hope and Johnny Cash.  Today we have no Jobs, no Hope and no Cash.

Reply
post #8 of 64
I think NFC would be cool on my phone- and I'd use it at grocery stores etc. where would I not use it? Anywhere id have to hand someone my phone (fast food or restraurants). That would be gross.

2012 27" iMac i7, 2010 27" iMac i7, 2011 Mac Mini i5
iPad Air, iPad Mini Retina, (2) iPhone 5S, iPod Touch 5
Time Capsule 5, (3) AirPort Express 2, (2) Apple TV 3

Reply

2012 27" iMac i7, 2010 27" iMac i7, 2011 Mac Mini i5
iPad Air, iPad Mini Retina, (2) iPhone 5S, iPod Touch 5
Time Capsule 5, (3) AirPort Express 2, (2) Apple TV 3

Reply
post #9 of 64
Quote:
Originally Posted by pika2000 View Post

Need Apple? Personally, retailer support is more important. What's the point of NFC if I can only use it on certain few retailers, regardless whether I have an Apple device or not? Have everything, including public transportation, ATMs, vending machines, retailers, grocery stores, ticket booths, all use the same standard, then NFC will gain traction. Until then, it's easier to swipe my credit card.

Retailer support is more important than devices that can utilize it thus making the retailers investment worthwhile? It's the classic chicken and egg scenario that a great deal of technology but as stated in the article it won't become mainstream until there is a technology company with a great deal of mindshare and market presence to make retailers want to add NFC.

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply
post #10 of 64
Quote:
Originally Posted by Andysol View Post

I think NFC would be cool on my phone- and I'd use it at grocery stores etc. where would I not use it? Anywhere id have to hand someone my phone (fast food or restraurants). That would be gross.

You wouldn't be handing your phone over to anyone. NFC is quite good in making your accounts more secure than with plastic.

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply
post #11 of 64
The first thing people have to realize is that PayPass and PayWave etc. have been around since 2005. There are two main factors why critical mass hasn't been reached: a) the merchants do not see a benefit in upgrading and in fact, it's only going to make their lives more complicated and b) credit card issuer pay a higher price for cards. So from MasterCards perspective, it's easy to say that we need NFC in the phones - but the merchant network is the real key here. If merchants really wanted this, they would have made the investment during the last 7 years. The way to get the merchants is to have a vehicle that can drive NFC type payments. As Japan, Singapore, Hong Kong, London and Australia have shown: such a vehicle is the public transport system.
post #12 of 64
Quote:
Originally Posted by Orlando View Post

They also need carriers to agree. Right now AT&T, Verizon and T-Mobile are building their own competing NFC payment system call ISIS.

Verizon has already allegedly blocked Google Wallet on the Galaxy Nexus.

More reason to stop supporting carrier-controlled phones. Yeah, it's sad seeing Google bowed down to Verizon for the Nexus, which is Google's own dev phone.
post #13 of 64
I'm gonna have my wallet wherever I go normally. I don't see it being any more convenient than using a credit card.

The only places this would matter are at the beach, a pool, hockey practice, etc. but for 95% other times, the whole card-swipe is pretty good.
post #14 of 64
Quote:
Originally Posted by AjbDtc826 View Post

I'm gonna have my wallet wherever I go normally. I don't see it being any more convenient than using a credit card.

The only places this would matter are at the beach, a pool, hockey practice, etc. but for 95% other times, the whole card-swipe is pretty good.

So you're saying you have your phone with you more than your wallet so why not just use your phone for a more secure and protected transaction process?

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply
post #15 of 64
Quote:
Originally Posted by AjbDtc826 View Post

I'm gonna have my wallet wherever I go normally. I don't see it being any more convenient than using a credit card.

The only places this would matter are at the beach, a pool, hockey practice, etc. but for 95% other times, the whole card-swipe is pretty good.

NFC could be useful if your phone integrated with purchases to keep you informed of what you were buying and giving you budgeting features. You could also stop carrying a Starbucks card, a Transit pass, and several credit cards, dramatically lightening your wallet.

Apple offers a critical mass that can accelerate a number of enabling technologies. We'll see if the company sees NFC as profitable enough to enter. If it does, it could provide a lot of convenient features, such as being able to reload your transit pass from your account without dealing with a ticket machine -- you could do it through an app, or your company could recharge your account for you centrally.

There's several things to be sorted out however, including getting everyone to use the same interoperable standards and accounting, which is one of the problems NFC is trying to address.
post #16 of 64
Quote:
Originally Posted by Corrections View Post

NFC could be useful if your phone integrated with purchases to keep you informed of what you were buying and giving you budgeting features. You could also stop carrying a Starbucks card, a Transit pass, and several credit cards, dramatically lightening your wallet.

Apple offers a critical mass that can accelerate a number of enabling technologies. We'll see if the company sees NFC as profitable enough to enter. If it does, it could provide a lot of convenient features, such as being able to reload your transit pass from your account without dealing with a ticket machine -- you could do it through an app, or your company could recharge your account for you centrally.

There's several things to be sorted out however, including getting everyone to use the same interoperable standards and accounting, which is one of the problems NFC is trying to address.

I already lighten my wallet load by about 40 cards with CardStar. It's not perfect, for various reasons, but it's better than carrying 40 additional physical cards around with me.

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply
post #17 of 64
The google wallet that I have on my galaxy nexus is one of the biggest reasons i can not use the iphone. I love this feature its extreamly convient and fast(when the merchant knows what they are doing). I can not wait until the iphone supports this. Hopefully i would see it popping up at more then a half dozen places.
post #18 of 64
Quote:
Originally Posted by SolipsismX View Post

You wouldn't be handing your phone over to anyone. NFC is quite good in making your accounts more secure than with plastic.

So I go to Chick Fil-a and the NFC device is outside the drive through window? or there is one at every table at every restaurant. Just saying- you can't use NFC exclusively even if it was offered everywhere- unless you give your phone up at some point. Germs...

2012 27" iMac i7, 2010 27" iMac i7, 2011 Mac Mini i5
iPad Air, iPad Mini Retina, (2) iPhone 5S, iPod Touch 5
Time Capsule 5, (3) AirPort Express 2, (2) Apple TV 3

Reply

2012 27" iMac i7, 2010 27" iMac i7, 2011 Mac Mini i5
iPad Air, iPad Mini Retina, (2) iPhone 5S, iPod Touch 5
Time Capsule 5, (3) AirPort Express 2, (2) Apple TV 3

Reply
post #19 of 64
Quote:
Originally Posted by SolipsismX View Post

I already lighten my wallet load by about 40 cards with CardStar. It's not perfect, for various reasons, but it's better than carrying 40 additional physical cards around with me.

Same here. Love that app.

As for all this near-field card business, I have no interest in it.

Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

Reply

Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

Reply
post #20 of 64
Quote:
Originally Posted by pika2000 View Post

Need Apple? Personally, retailer support is more important. What's the point of NFC if I can only use it on certain few retailers, regardless whether I have an Apple device or not? Have everything, including public transportation, ATMs, vending machines, retailers, grocery stores, ticket booths, all use the same standard, then NFC will gain traction. Until then, it's easier to swipe my credit card.

Or it could make more retailers jump on the NFC bandwagon if Apple is in the game? Knowing that Apple users are willing spenders I wouldn't hesitate to join in if I were a retailer.
post #21 of 64
Quote:
Originally Posted by SolipsismX View Post

I already lighten my wallet load by about 40 cards with CardStar. It's not perfect, for various reasons, but it's better than carrying 40 additional physical cards around with me.

Who the hell has 40 cards? (besides you)..
post #22 of 64
This is a scary new world. I like tech as much as the next guy but this is going too far in my opinion. Next step imbedded NFC chips in your hand.

Life is too short to drink bad coffee.

Reply

Life is too short to drink bad coffee.

Reply
post #23 of 64
Quote:
Originally Posted by Andysol View Post

So I go to Chick Fil-a and the NFC device is outside the drive through window? or there is one at every table at every restaurant. Just saying- you can't use NFC exclusively even if it was offered everywhere- unless you give your phone up at some point. Germs...

Fast food restaurants should have them at every register, including the drive through, so you can get it with the 8" of the NFC receiver, but you have a point about sit-down restaurants. I expect the future will have waitstaff with handheld devices but when it first become standard I would expect most sit-down restaurants to still do kiosks where they take your card/phone. Having a way to turn on NFC for x-many minutes but locking the phone immediately might be needed or simply forcing certain businesses to change their policy might be in order.


Quote:
Originally Posted by SpamSandwich View Post

Same here. Love that app.

I love the concept more than I love that particular app. IOW, I think there is a lot of improvement that could be made despite being a great space saver. I find that app slow to load and because some stores have older, less sensitive scanners I would like an option that would just put the numbers in a large font to make it easy for the clerk to type in on their end.


Quote:
Originally Posted by Wurm5150 View Post

Who the hell has 40 cards? (besides you)..

I figure a lot of people do. AAA, various grocery stores, various drugs stores (like CVS and Walgreens), movie theaters, AppleInsider Gold Card, etc.

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply
post #24 of 64
Quote:
Originally Posted by pika2000 View Post

More reason to stop supporting carrier-controlled phones. Yeah, it's sad seeing Google bowed down to Verizon for the Nexus, which is Google's own dev phone.

They did not. Google has an agreement with Sprint for Wallet in the US which runs out in the Spring. However the Galaxy Nexus on Verizon supports it just fine. No special permissions required. I use it a bunch. I never thought I'd be into the whole NFC thing but it really is quite handy and seamless. Especially if you go the prepaid card route. Great when I go for a run and want to stop for a drink or a snack. Except since my iPhone has more of my music, juggling is annoying.

I hope Apple gets on board soon. I'd like to answer "Is there an iPhone app for that?" while in the checkout line with a yes.
I'm not a pessimist. I'm an optimist, with experience.
Reply
I'm not a pessimist. I'm an optimist, with experience.
Reply
post #25 of 64
Quote:
Originally Posted by mstone View Post

I like tech as much as the next guy but this is going too far in my opinion.

Why do you feel that way?

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply
post #26 of 64
Quote:
Originally Posted by pika2000 View Post

Need Apple? Personally, retailer support is more important. What's the point of NFC if I can only use it on certain few retailers, regardless whether I have an Apple device or not? Have everything, including public transportation, ATMs, vending machines, retailers, grocery stores, ticket booths, all use the same standard, then NFC will gain traction. Until then, it's easier to swipe my credit card.

The point is that retailers will come on board when Apple is on board. Apple brings tens of millions of users on board almost instantly with the release of a new model iPhone, users who have decent spending power. That will motivate retailers not Android OEMs or always-trying-to-get-something-for-nothing Google.

Credit cards are great for online purchases, cash is great offline, as a retailer I offer discounts for cash - less money for the banks. Spending cash opens up the opportunity for discounts too with smaller retailers, 2 - 3%, that's what the card companies charge, worth it on a $100+ buy.

And I had a digital account disappear, just like the movie, the bank said the account never existed. It took communications with eight levels of bank personnel over several weeks before it was sorted, the first seven levels kept telling me I hadn't had an account that I'd been using for several years. Eventually they said it was a software glitch, whatever, don't keep all your eggs in one basket.
post #27 of 64
NFC "More Secure"?!!

Wow... maybe they need to take a closer look at the goal.
post #28 of 64
Quote:
Originally Posted by SolipsismX View Post

You wouldn't be handing your phone over to anyone. NFC is quite good in making your accounts more secure than with plastic.

How do you figure? Nice article over on /. today about the problems.
post #29 of 64
Quote:
Originally Posted by SolipsismX View Post

I expect the future will have waitstaff with handheld devices ...

They already do it everywhere in Europe now for chip-and-pin.
post #30 of 64
Quote:
Originally Posted by aaarrrgggh View Post

nfc "more secure"?!!

Wow... Maybe they need to take a closer look at the goal.

Quote:
Originally Posted by aaarrrgggh View Post

how do you figure? Nice article over on /. Today about the problems.

Quote:
Originally Posted by aaarrrgggh View Post

they already do it everywhere in europe now for chip-and-pin.

RFID is not NFC.

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

 

Goodbyeee jragosta :: http://forums.appleinsider.com/t/160864/jragosta-joseph-michael-ragosta

Reply
post #31 of 64
Quote:
Originally Posted by SolipsismX View Post

Why do you feel that way?

I like to tip my hair dresser with a fiver, the box boy with pocket change and the beggar on the street with a single. The closer we get to all electronic payments the more these less priveleged among us will suffer. That among other objections. I'll elaborate later.

Life is too short to drink bad coffee.

Reply

Life is too short to drink bad coffee.

Reply
post #32 of 64
Quote:
Originally Posted by mstone View Post

I like to tip my hair dresser with a fiver, the box boy with pocket change and the beggar on the street with a single. The closer we get to all electronic payments the more these less priveleged among us will suffer. That among other objections. I'll elaborate later.

Somehow I doubt that. I don't carry cash currently and likely never will. NFC will do nothing except make my current cashless lifestyle easier. I add tips for my barber on my credit card payment and would do the same on an NFC payment. The future beggar on the street can wait for the next person in the line of cars the same as the ones do now. There will always be those who carry cash or like to wear their tinfoil hats and are against NFC or other electronic payment methods.

That, or instead of carrying around a homeless vet sign, the beggar on the street can go find a job?

15" MB Pro Early 2011 (2.0 i7 8GB RAM 240 SSD); ATV 3; iPad 3 (32GB, VZW Black); iPhone 4S (16GB AT&T Black); Airport Extreme (2011)

Reply

15" MB Pro Early 2011 (2.0 i7 8GB RAM 240 SSD); ATV 3; iPad 3 (32GB, VZW Black); iPhone 4S (16GB AT&T Black); Airport Extreme (2011)

Reply
post #33 of 64
Quote:
Originally Posted by Beauty of Bath View Post

The point is that retailers will come on board when Apple is on board. Apple brings tens of millions of users on board almost instantly with the release of a new model iPhone, users who have decent spending power. That will motivate retailers not Android OEMs or always-trying-to-get-something-for-nothing Google.

Credit cards are great for online purchases, cash is great offline, as a retailer I offer discounts for cash - less money for the banks. Spending cash opens up the opportunity for discounts too with smaller retailers, 2 - 3%, that's what the card companies charge, worth it on a $100+ buy.

Why? It's not like consumers are champing at the bit to spend their cash if only there were another payment scheme available.

Do you think a retailer, on installing the new iOS NFC payment system, could expect to see an increase in revenue? I don't think so.

The only decent NFC value proposition noted for consumers and retailers isn't even in payments but loyalty schemes. It's hardly compelling.

I don't think it's a great idea to bank on cutting merchant service fees either. It's unlikely that Apple, the company that charge 30% for everything running through its ecosystem, will decide to undercut banks on fees.
post #34 of 64
Double post.

15" MB Pro Early 2011 (2.0 i7 8GB RAM 240 SSD); ATV 3; iPad 3 (32GB, VZW Black); iPhone 4S (16GB AT&T Black); Airport Extreme (2011)

Reply

15" MB Pro Early 2011 (2.0 i7 8GB RAM 240 SSD); ATV 3; iPad 3 (32GB, VZW Black); iPhone 4S (16GB AT&T Black); Airport Extreme (2011)

Reply
post #35 of 64
Quote:
Originally Posted by ZachB10 View Post

Somehow I doubt that. I don't carry cash currently and likely never will. NFC will do nothing except make my current cashless lifestyle easier. I add tips for my barber on my credit card payment and would do the same on an NFC payment. The future beggar on the street can wait for the next person in the line of cars the same as the ones do now. There will always be those who carry cash or like to wear their tinfoil hats and are against NFC or other electronic payment methods.

That, or instead of carrying around a homeless vet sign, the beggar on the street can go find a job?

Sorry Zach I just realized I was living in an parallel universe that wasn't connected to your elitist cashless society. Whatever... I can accept your payment to support my charitable organizations in what ever method you wish to contribute. We accept credit cards, PayPal, wire transfer, cash, check, chickens, etc, please pm me for available participation programs.

Life is too short to drink bad coffee.

Reply

Life is too short to drink bad coffee.

Reply
post #36 of 64
Quote:
Originally Posted by Firefly7475 View Post

Why? It's not like consumers are champing at the bit to spend their cash if only there were another payment scheme available.

Do you think a retailer, on installing the new iOS NFC payment system, could expect to see an increase in revenue? I don't think so.

The only decent NFC value proposition noted for consumers and retailers isn't even in payments but loyalty schemes. It's hardly compelling.

I don't think it's a great idea to bank on cutting merchant service fees either. It's unlikely that Apple, the company that charge 30% for everything running through its ecosystem, will decide to undercut banks on fees.

Retailers want to take your money as fast as possible, what they look for are shorter queues and speedier transactions meaning lower staff cost per transaction. Some shoppers leave their prospective purchases if queues are too long, at busy times retailers are limited by transaction speed and it is not always possible to predict when busy times will occur. Even when entirely predictable volume of prospective sales can overwhelm systems, think getting a beer at the Superbowl interval, thousands wanting to spend their money in a tiny time slot. Whether NFC does speed things up and achieves critical mass remains to be seen but many retailers believe they have to be in on it just in case it does take off and they then risk being left behind by the competition.

I'm not saying it's right or wrong just pointing out that's how things work.

Use cash and there are no merchant fees, doesn't work online of course.
post #37 of 64
Quote:
Originally Posted by Beauty of Bath View Post

Retailers want to take your money as fast as possible, what they look for are shorter queues and speedier transactions meaning lower staff cost per transaction. Some shoppers leave their prospective purchases if queues are too long, at busy times retailers are limited by transaction speed and it is not always possible to predict when busy times will occur.

From what I've seen NFC on a phone is actually slower than exisitng solutions (specifically chip-and-pin and chip/RFID with auto-approval under a pre-determined floor limit).
post #38 of 64
Quote:
Originally Posted by SolipsismX View Post

I already lighten my wallet load by about 40 cards with CardStar.

Off topic... that app is a nice example of the different platform UI's.

post #39 of 64
Quote:
Originally Posted by SolipsismX View Post

Fast food restaurants should have them at every register, including the drive through, so you can get it with the 8" of the NFC receiver, but you have a point about sit-down restaurants. I expect the future will have waitstaff with handheld devices but when it first become standard I would expect most sit-down restaurants to still do kiosks where they take your card/phone.

Kiosks in restaurants are rapidly being replaced with handheld units since credit cards are switching to using chip-and-pin. The old method of handing the waiter your card doesn't work when you still need to input a PIN to authorize payment.
post #40 of 64
Quote:
Originally Posted by SolipsismX View Post

Retailer support is more important than devices that can utilize it thus making the retailers investment worthwhile? It's the classic chicken and egg scenario that a great deal of technology but as stated in the article it won't become mainstream until there is a technology company with a great deal of mindshare and market presence to make retailers want to add NFC.

Merchant support was already everywhere... In Canada. I was using my Mastercard Paypass up until Dec 20th. When I came back in Janurary 2012, suddenly no stores Paypass worked anymore. So I had to start using the chip+pin EMV instead. I'm not sure what gives, but I imagine either something is about to change with those contactless payment pads, or I was just an early adopter of the PayPass and they changed it so currently issued cards no longer work.

If I had the contactless payment available by just swiping the phone, I could just leave everything at home but the phone. The only places off hand that didn't have Paypass were full service restaurants (eg not McDonalds.
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: iPhone
  • MasterCard acknowledges it needs Apple to bring NFC payments into the mainstream
AppleInsider › Forums › Mobile › iPhone › MasterCard acknowledges it needs Apple to bring NFC payments into the mainstream