Bank of America promotes iPhone 6 in new TV ads for Apple Pay

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Comments

  • Reply 61 of 75
    geekmeegeekmee Posts: 507member

    <span style="line-height:1.4em;">The bottom line is, there is no cookie-cutter 'standard ratio.'</span>

    Thanks for the education... So the ten times value formula for buyouts is a CNBC oversimplification for TV digestion?
  • Reply 62 of 75
    Quote:

    Originally Posted by Geekmee View Post



    Thanks for the education... So the ten times value formula for buyouts is a CNBC oversimplification for TV digestion?

    You're welcome.

     

    CNBC doesn't just oversimplify: it actively dumbs down serious stuff. (That said, I'll admit to often leaving it on in the background....; but in my defense, I don't pay much attention except to the market movements and to AAPL. :D).

  • Reply 63 of 75
    knowitall wrote: »
    boredumb wrote: »
    Yeah - so much easier that you won't even have to go shopping to find things on your bill!
    It isn't chip cards Apple has to beat - it's ignorance...
    Thanks for demonstrating it.

    I don't know where the hostility comes from, maybe you had a bad day.
    I surely didn't demonstrate ignorance, I just raised a question.
    The issue at hand is that banks and other money institutions in Europe might not be as easy to beat as the ones in the US.
    The reason I say that is that banks are already issuing counter measures.
    That doesn't seem an ignorant statement, it's just reporting a fact and raising an relevant question.


    Your original quote was:
    knowitall wrote: »
    Great.
    In Europe bank(s) are promoting chip creditcards now that support nfc and secure payments with one wave. That seems hard to beat even for Apple.

    I fail to se any question in either of your posts!

    You appear to be attempting to illustrate your superior experience and erudition by telling a question rather than asking a question! ... Many people find this approach condescending and off-putting!

    I suspect that was the effect that you desired.
  • Reply 64 of 75
    pscooter63pscooter63 Posts: 1,059member
    Quote:
    Originally Posted by GTBuzz View Post



    Walmart's Chip processing leaves a lot to be desired. Old Fashioned Swipe & Sign is much faster than Chip Pay and Wait, and Wait, and Wait Some More . . .

     

    The Wally-Worlds in my area tried to enforce chip reading for about ten days, for certain credit cards, back in October.

     

    Not only did transactions take noticeably longer to process... if you happened to insert your card before the cashier finished ringing up your items, the register paused to validate for every item that was scanned, ad nauseum... rather than waiting until the cashier hit "Total" (or Credit, or whatever indicates the end of scanning nowadays).

     

    The final straw (for the store AND me) was the system's seeming inability to allow a non-chip payment, even when the chip system was clearly not ready for prime time.  We're talking the chip-reader equivalent of BSOD, which locked up the entire register until it was rebooted.  It took three different checkout lanes to find one that wouldn't gag.

     

    Shortly after I experienced that, the stores punted, and went back to swipe-and-sign.

  • Reply 65 of 75
    lkrupplkrupp Posts: 9,732member

    Can’t you just see the Fandroids running around with their hair on fire, arms waving frantically and screaming “We had this first, we had this first!” But I don’t recall any Google ads touting Google Wallet let alone ads by major banks announcing the partnership. This is the difference between  real marketing clout and clueless tech.

  • Reply 66 of 75
    Quote:

    Originally Posted by lkrupp View Post

     

    Can’t you just see the Fandroids running around with their hair on fire, arms waving frantically and screaming “We had this first, we had this first!” But I don’t recall any Google ads touting Google Wallet let alone ads by major banks announcing the partnership. This is the difference between  real marketing clout and clueless tech.


     

    That's because Google Wallet is designed to benefit Google by allowing them another source of data to mine. Apple Pay is designed to benefit the consumers AND financial institutions (through better privacy, security and reduced fraud).

     

    What's really funny are all the idiots running around claiming that because Google Wallet uses tokens and Apple Pay uses tokens that they are somehow the same. Or that because they both use NFC that they are the same. All the time forgetting that the complete back-end for Apple Pay is different than existing payment processing methods.

     

    This is the reason why Apple Pay requires banks to get on board since they need to change their back-end to handle Apple Pay tokens. Merchants don't have to do anything if they have an NFC terminal. However, the data that gets transferred over NFC (and the processing of that data) will be different from a tap & pay card, a Google Wallet phone or an Apple Pay iPhone.

     

    This is also why Google Wallet works with ALL cards since it's using an older system that's already well established. Yet this is one thing people claim is superior about Google Wallet. You know what else works with all cards? A card imprinter and paper charge slip. Doesn't mean it's better.

  • Reply 67 of 75
    Quote:
    Originally Posted by jameskatt2 View Post

     



    Apple Pay is even more secure than chip credit cards.  

     

    In fact, the contents of the chip can be read straight from your card at a distance by hackers, allowing them to steal your ID and card.  This is why you have to get RFID shielding wallets to protect your cards from being read.

     

    Also, since anyone can use your chip credit card after stealing it, it isn't as secure as Apply Pay which requires your fingerprint.

     

    Once Apple Pay gets a foothold in Europe, it will take over Europe. Easily.




    Not that easily.  Apple Pay growth is limited by hardware, which is how many iPhones Apple is able to make within a period of time.  That's Apple Pay's first restriction.  Apple simply won't be able to build and distribute iPhones fast enough.  Besides, unless Apple can get hundreds of millions of Europeans to dump their Android smartphones, growth will be slowed tremendously.  I'm not sure AppleWatch can do Apple Pay on its own.  It may require an iPhone with a Secure Enclave chip to do Apple Pay transactions.

  • Reply 68 of 75
    solipsismysolipsismy Posts: 5,099member
    Not that easily.  Apple Pay growth is limited by hardware, which is how many iPhones Apple is able to make within a period of time.  That's Apple Pay's first restriction.  Apple simply won't be able to build and distribute iPhones fast enough.  Besides, unless Apple can get hundreds of millions of Europeans to dump their Android smartphones, growth will be slowed tremendously.  I'm not sure AppleWatch can do Apple Pay on its own.

    That's a silly statement since ?Pay is NFC from the retailer's PoV.
    It may require an iPhone with a Secure Enclave chip to do Apple Pay transactions.

    Of course it can. If it couldn't then they wouldn't have stated the iPhone 5 and 5C could be used with it for ?Pay.
  • Reply 69 of 75
    22july201322july2013 Posts: 2,684member
    I could have written a better closing line to that commercial:

    "If you visit our website, we will give you "99" other reasons to "86" your old payment system."
  • Reply 70 of 75
    boredumbboredumb Posts: 1,418member
    Quote:

    Originally Posted by knowitall View Post

     
    Quote:

    Originally Posted by boredumb View Post



    Yeah - so much easier that you won't even have to go shopping to find things on your bill!

    It isn't chip cards Apple has to beat - it's ignorance...

    Thanks for demonstrating it.




    I don't know where the hostility comes from, maybe you had a bad day.

    I surely didn't demonstrate ignorance, I just raised a question.

    The issue at hand is that banks and other money institutions in Europe might not be as easy to beat as the ones in the US.

    The reason I say that is that banks are already issuing counter measures.

    That doesn't seem an ignorant statement, it's just reporting a fact and raising an relevant question.

    The "ignorance" reference is to the notion that other methods are easier - they clearly aren't -

    or that they might be remotely as secure - they again clearly aren't.

     

    These are factual points, so attempting to dismiss them as unwarranted "hostility"

    is a rather disingenuous defense, I think.

  • Reply 71 of 75
    knowitallknowitall Posts: 1,648member
    solipsismy wrote: »
    So chip and pin is a benefit in those case, how?
    I suppose it would be since very few retailers accept credit cards.
    1) Since ?Pay works via NFC with local retailers any retailer that supports NFC can support ?Pay. In fact, they have to go out of their way to have NFC and then not support ?Pay.

    2) There is a finally a solution that will drastically reduce the billions lost to fraud each year. The banks are already convinced. They were convinced before we ever heard about it.

    Bank cards with pin are accepted universally in Europe, add nfc and you don't need creditcards anymore.
    Some retailers have new terminals that support nfc but most of them don't, this can differ per country, so I don't know how many support it in Europe but my estimate is that it will take years to make an impact.
    Fraud reduction is a big plus, but selling yourself (and a fixed percentage per transaction) to Apple might not be a very good idea.
    The fact that European banks introduce an AP alternative is a strong indication that they think in a similar way.
    Another point I mentioned before is that the iPhone is a minority phone over here, several large countries have 10% or less.
  • Reply 72 of 75
    knowitallknowitall Posts: 1,648member
    boredumb wrote: »
    The "ignorance" reference is to the notion that other methods are easier - they clearly aren't -
    or that they might be remotely as secure - they again clearly aren't.

    These are factual points, so attempting to dismiss them as unwarranted "hostility"
    is a rather disingenuous defense, I think.

    It's a fact that the method I mentioned is easier.
    I didn't mention at all that this method was as secure, you make things up (your reading skills are below par).
    Calling someone ignorant without argumentation is hostile by any account, so this was a correct remark.
  • Reply 73 of 75
    solipsismysolipsismy Posts: 5,099member
    knowitall wrote: »
    Bank cards with pin are accepted universally in Europe, add nfc and you don't need credit cards anymore.

    Why would people give up credit, fraud protection, and convenience for debit cards?
    Some retailers have new terminals that support nfc but most of them don't

    Did you know that most people in the world selling goods only accept fiat money?
    this can differ per country

    Shocker¡
    so I don't know how many support it in Europe but my estimate is that it will take years to make an impact.

    The same thing was said by people decades ago when magnetic stripe cards were starting to gain transactions.
    but selling yourself (and a fixed percentage per transaction) to Apple might not be a very good idea.

    Wow! You're still spreading the FUD. Shame on you. :no:
    The fact that European banks introduce an AP alternative is a strong indication that they think in a similar way.

    Nope.
    Another point I mentioned before is that the iPhone is a minority phone over here, several large countries have 10% or less.

    And? That has absolutely nothing to do with the adoption of NFC over the next several years.
  • Reply 74 of 75
    knowitallknowitall Posts: 1,648member
    solipsismy wrote: »
    Why would people give up credit, fraud protection, and convenience for debit cards?
    They don't have to, you just made that up. I indicated that a lot of people in Europe don't have a credit card.
    Did you know that most people in the world selling goods only accept fiat money?
    And?
    Shocker¡
    It's clear you don't want to have a conversation.
    The same thing was said by people decades ago when magnetic stripe cards were starting to gain transactions.
    And when they introduced the 'chip knip' which disappeared last year (after 15 years promotion by the banks).
    Wow! You're still spreading the FUD. Shame on you. :no:
    Shame on you for interpreting it this way.
    Nope.
    It is.
    And? That has absolutely nothing to do with the adoption of NFC over the next several years.
    Your right it hasn't, but it has to do with the adoption of AP; why put in te effort for 'zero' clients.

    The point I was trying to make is that the situation is very different in Europe.
    I have indicated why that is the case.
    It's a bit of information people in the US might not have and I thought that might be interesting to hear.
    It's clear you and some others don't accept that information or my opinions, and that's fine.
  • Reply 75 of 75
    knowitallknowitall Posts: 1,648member
    Your original quote was:
    I fail to se any question in either of your posts!
    That's your problem then.
    You appear to be attempting to illustrate your superior experience and erudition by telling a question rather than asking a question! ... Many people find this approach condescending and off-putting!
    So you do kind of admit that it was a question? (I added the question mark so you can recognize it.)
    I suspect that was the effect that you desired.
    Wow, I think you are projecting a lot. Stick to the facts.
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