"secure cloud-hosted network." Yeah, you know, like the one Target and Home Depot used.
So once one server is hacked they get 50 million card numbers. Whereas they would have to hack 50 million separate iPhones to get the same reward, which so far as been unhackable.
Smart move.
Why not. Each phone is so insecure....like low hanging fruit. You know hackers are just salivating.
The funny thing is, that when you get to... "pull out my iPhone, unlock the screen" that's the extent of ApplePay with TouchID. The same motion and amount of time it takes to unlock the screen is the same it takes to authorize payment.
Well, you’ve got it wrong. You do not have to unlock the screen to use ?Pay. I know because I have actually used it. I placed my (screen locked) iPhone 6 near the NFC terminal at my local Panera Bread. The ?Pay screen appeared and all I had to do was place my finger on the TouchID button. It was a single motion transaction, no unlocking, no app launch, nothing other than touching my finger to the TouchID button.
But while CurrentC is an exclusive program, retailers who wish to stop working with MCX do not pay any fines...
I bet MCX will return their sign up fees, too. No?
I guess we'll see which retailers decide to ride it out, and which ones decide to cut their losses. (Since only a few have been called out, I don't expect many of the latter-- if any abandon ship at all.)
Quote:
"CurrentC does not collect any information from any other apps, or health information stored in the mobile device," Davidson said."
The problem comes in when they start getting information about where you shop, what you buy, your SSN, your DL and your health information. Now these people have enough information to track your friends and family as well. This is in addition to unraveling the protections associated with protecting your direct banking account information with a Credit Card or Debit Card. A hacker can wipe you out with one swoop.
Well, you’ve got it wrong. You do not have to unlock the screen to use ?Pay. I know because I have actually used it. I placed my (screen locked) iPhone 6 near the NFC terminal at my local Panera Bread. The ?Pay screen appeared and all I had to do was place my finger on the TouchID button. It was a single motion transaction, no unlocking, no app launch, nothing other than touching my finger to the TouchID button.
Please read the post... I never said you have to unlock the screen... I said the same motion, as in placing your finger on the Home Button.
Correct me if I'm around, but isn't he misinformed with how secure the data is on the device? Isn't the Apple pay stuff stored on the same secure chip with the fingerprint info? Basically to use it you'll need the fingerprint of the owner of the phone. That doesn't seem particularly hackable
Minor detail: I believe that the Apple Pay stuff is stored in a part of the NFC chip (secure element"). The fingerprint data is in a different place and is in the CPU - if I remember correctly. Same effect though - you need a fingerprint or device password to get at the payment token.
and what about the email i got about a security leak on that cloud. am i supposd to trust their cloud with my financials knowing they are getting hacked before they even launch
Obviously, the stupid part of this is the contract requiring merchants not to accept anything else. One would think a merchant would want to take as many forms of payment as they can, for the convenience of the customer.
"secure cloud-hosted network." Yeah, you know, like the one Target and Home Depot used.
So once one server is hacked they get 50 million card numbers. Whereas they would have to hack 50 million separate iPhones to get the same reward, which so far as been unhackable.
Smart move.
yep. they just sent out a noice they were hacked. but no worries its only email addresses. they dont get that "just email addresses" still opens up accounts to password cracking, phishing etc, which exposes finanacial info.
Slightly off topic but relevant. I happen to be watching the CNBC financial channel right now and they are discussing the ?Pay/CurrentC kerfuffle. The guest being interviewed is Osama Bedier, former PayPal exec and the inventor of Google Wallet. The interviewer is pressing him hard about why Google Wallet has not taken off but ?Pay is stirring up everything. He is avoiding the issue and talking about timing and how he expected Google Wallet to take from 2-5 years to be ubiquitous. When asked again what ?Pay did right that Google Wallet didn’t he said Apple’s system had better market timing, whatever that means. Anyway he sounded a lot like Eric Schmidt when Schmidt predicted that developers would be Android first and iOS second or not at all within six months. That was almost three years ago by the way.
NEWS FLASH from CNBC! CurrentC just announced it has been hacked in the last 36 hours and that customer test data has been compromised. More to follow.
Every swipe of your actual credit card appears as a notification on your phone (if set appropriately). This will help reduce fraud further by allowing detection of cloned credit cards. Also works with iTunes purchases. May do so with other online purchasing.
That is far more secure than an exposed debit card or bank account. You have instant feedback.
The funny thing is, that when you get to... "pull out my iPhone, unlock the screen" that's the extent of ApplePay with TouchID. The same motion and amount of time it takes to unlock the screen is the same it takes to authorize payment.
If you want to use your default card you dont even have to unlock. get it within say two inches of the 'tap' and it will open card and ask for touch id
Comments
CurrentC is an absolute anti-consumer joke. A disaster on wheels.
I'm not so sure about the wheels.
The funny thing is, that when you get to... "pull out my iPhone, unlock the screen" that's the extent of ApplePay with TouchID. The same motion and amount of time it takes to unlock the screen is the same it takes to authorize payment.
Well, you’ve got it wrong. You do not have to unlock the screen to use ?Pay. I know because I have actually used it. I placed my (screen locked) iPhone 6 near the NFC terminal at my local Panera Bread. The ?Pay screen appeared and all I had to do was place my finger on the TouchID button. It was a single motion transaction, no unlocking, no app launch, nothing other than touching my finger to the TouchID button.
I just tweeted this
#mcx This is a joke, right? http://www.mcx.com/blog/answers-to-your-questions/ Secure cloud? Ask Target and HD and everyone else. #SayNOToCurrentC #ApplePay
But while CurrentC is an exclusive program, retailers who wish to stop working with MCX do not pay any fines...
I bet MCX will return their sign up fees, too. No?
I guess we'll see which retailers decide to ride it out, and which ones decide to cut their losses. (Since only a few have been called out, I don't expect many of the latter-- if any abandon ship at all.)
"We're haven't figured out how to do that yet."
The problem comes in when they start getting information about where you shop, what you buy, your SSN, your DL and your health information. Now these people have enough information to track your friends and family as well. This is in addition to unraveling the protections associated with protecting your direct banking account information with a Credit Card or Debit Card. A hacker can wipe you out with one swoop.
Well, you’ve got it wrong. You do not have to unlock the screen to use ?Pay. I know because I have actually used it. I placed my (screen locked) iPhone 6 near the NFC terminal at my local Panera Bread. The ?Pay screen appeared and all I had to do was place my finger on the TouchID button. It was a single motion transaction, no unlocking, no app launch, nothing other than touching my finger to the TouchID button.
Please read the post... I never said you have to unlock the screen... I said the same motion, as in placing your finger on the Home Button.
CurrentC is an absolute anti-consumer joke. A disaster on wheels.
I'm not so sure about the wheels.
Roller skates!
http://wh.gov/icBmj
Correct me if I'm around, but isn't he misinformed with how secure the data is on the device? Isn't the Apple pay stuff stored on the same secure chip with the fingerprint info? Basically to use it you'll need the fingerprint of the owner of the phone. That doesn't seem particularly hackable
Minor detail: I believe that the Apple Pay stuff is stored in a part of the NFC chip (secure element"). The fingerprint data is in a different place and is in the CPU - if I remember correctly. Same effect though - you need a fingerprint or device password to get at the payment token.
and what about the email i got about a security leak on that cloud. am i supposd to trust their cloud with my financials knowing they are getting hacked before they even launch
Obviously, the stupid part of this is the contract requiring merchants not to accept anything else. One would think a merchant would want to take as many forms of payment as they can, for the convenience of the customer.
yep. they just sent out a noice they were hacked. but no worries its only email addresses. they dont get that "just email addresses" still opens up accounts to password cracking, phishing etc, which exposes finanacial info.
Slightly off topic but relevant. I happen to be watching the CNBC financial channel right now and they are discussing the ?Pay/CurrentC kerfuffle. The guest being interviewed is Osama Bedier, former PayPal exec and the inventor of Google Wallet. The interviewer is pressing him hard about why Google Wallet has not taken off but ?Pay is stirring up everything. He is avoiding the issue and talking about timing and how he expected Google Wallet to take from 2-5 years to be ubiquitous. When asked again what ?Pay did right that Google Wallet didn’t he said Apple’s system had better market timing, whatever that means. Anyway he sounded a lot like Eric Schmidt when Schmidt predicted that developers would be Android first and iOS second or not at all within six months. That was almost three years ago by the way.
NEWS FLASH from CNBC! CurrentC just announced it has been hacked in the last 36 hours and that customer test data has been compromised. More to follow.
Every swipe of your actual credit card appears as a notification on your phone (if set appropriately). This will help reduce fraud further by allowing detection of cloned credit cards. Also works with iTunes purchases. May do so with other online purchasing.
That is far more secure than an exposed debit card or bank account. You have instant feedback.
Stupid me! Now, I get it. Cloud. Everything. Secure Cloud ....
Keep in mind that Apple doesnt have your card numbers on the device or in their cloud. thats part of why they cant support double charges etc.
So even if icloud is compromised your info isnt there
If you want to use your default card you dont even have to unlock. get it within say two inches of the 'tap' and it will open card and ask for touch id