For those of you who use Apple Pay on a regular basis, and without wishing to be indiscreet, how does an Apple Pay-mediated transaction appear on your bank/credit card statement?
Any news on when Discover Card will join ApplePay?
You should ask Discover.
The problem is that Discover had a NFC contactless payment system trial running for a while, then pulled the plug on it. Thus, they are basically starting from square one.
By contrast, Visa, MasterCard, and AMEX all have rolled out contactless payment systems over the years, which is why many of NFC POS terminals were compatible from Apple Pay on day one, even if the merchant in question did not officially support Apple Pay.
Apple Pay needs a web API to really really dominate payments IMHO.
Apple should come out with an API where supporting web checkout carts can query your phone/pad/keyboard/mouse for fingerprint payment.
I really don't want to install an app from any 1 vendor just because I want to buy 1 or 2 things from them every couple of months.
Take this scenario for instance...
I go to billybobslures.com on my Mac/iPhone/iPad and buy some night crawlers for my fishing trip next week. I go to checkout and click Apple Pay. The iphone/ipad/mightymouse3 asks for a fingerprint. Bam! card charged and shipping info filled out.. done.
Right now I need to install billybobslures' app to use ApplePay. That's just more trouble then it's worth.
Amazon and maybe Fandango are the only web vendors I might consider downloading an app for ApplePay. I mean.. download the Dominos app for Apple Pay pizzas? What if I feel like Pizza Hut today? Another app??!?!
The reason Apple Pay is popular with financial institutions is because of the security. The credit card/debit card isn't passed via the transaction and isn't even stored on the phone. It uses a secured token passed via NFC. That doesn't mean you're scenario isn't possible but the banks would need to get behind it and billbobs.com would need to be able to accept Apples tokens.
For those of you who use Apple Pay on a regular basis, and without wishing to be indiscreet, how does an Apple Pay-mediated transaction appear on your bank/credit card statement?
It appears exactly the same as if you swiped the card. There is nothing different about how the payment gets posted to your account.
When you set up your credit card in Apple pay, your phone contacts the bank that issues your card and tells them your card number and who you say your are. The bank then replies to the phone and verifies that the information is correct and tells your phone a certain formula to use to creat one time use credit card numbers that will be tied to your account. From that point on when you make a purchase your iPhone doesn't send out your actual credit card information, it uses the formula that you bank gave your phone to come up with a new one time use credit card number, and sends that new number to the POS system you are using the phone at. The POS system then uses that one time use number to contact your bank and your bank sees that one time use number, figures out what formula it is using, and then sees who's account is really being charged. Then they actually charge that purchase to your real credit card account number, and mark the one time use credit card number so it can never be used again for a purchase (they do keep track of it in case you need to make a return though). This isn't exactly how it works, but I believe it is a simplified version of pretty much what happens. It is kind of like how some credit cards companies will let you login to your account and get a one time use number to use at a website you aren't 100% confident in giving your real number to, except it is all pretty much transparent to you once you get your card set up in Apple Pay.
The main thing is the company you are buying something from never actually sees your real credit card number, it only sees the one time use number. If someone at that company steals that one time use number, or if their system gets hacked and the hacker gets the number, it is worthless since if they try to use it for another purchase again it will be rejected.
Apple Pay needs a web API to really really dominate payments IMHO.
Apple should come out with an API where supporting web checkout carts can query your phone/pad/keyboard/mouse for fingerprint payment.
I really don't want to install an app from any 1 vendor just because I want to buy 1 or 2 things from them every couple of months.
Take this scenario for instance...
I go to billybobslures.com on my Mac/iPhone/iPad and buy some night crawlers for my fishing trip next week. I go to checkout and click Apple Pay. The iphone/ipad/mightymouse3 asks for a fingerprint. Bam! card charged and shipping info filled out.. done.
Right now I need to install billybobslures' app to use ApplePay. That's just more trouble then it's worth.
Amazon and maybe Fandango are the only web vendors I might consider downloading an app for ApplePay. I mean.. download the Dominos app for Apple Pay pizzas? What if I feel like Pizza Hut today? Another app??!?!
It appears exactly the same as if you swiped the card. There is nothing different about how the payment gets posted to your account.
When you set up your credit card in Apple pay, your phone contacts the bank that issues your card and tells them your card number and who you say your are. The bank then replies to the phone and verifies that the information is correct and tells your phone a certain formula to use to creat one time use credit card numbers that will be tied to your account. From that point on when you make a purchase your iPhone doesn't send out your actual credit card information, it uses the formula that you bank gave your phone to come up with a new one time use credit card number, and sends that new number to the POS system you are using the phone at. The POS system then uses that one time use number to contact your bank and your bank sees that one time use number, figures out what formula it is using, and then sees who's account is really being charged. Then they actually charge that purchase to your real credit card account number, and mark the one time use credit card number so it can never be used again for a purchase (they do keep track of it in case you need to make a return though). This isn't exactly how it works, but I believe it is a simplified version of pretty much what happens. It is kind of like how some credit cards companies will let you login to your account and get a one time use number to use at a website you aren't 100% confident in giving your real number to, except it is all pretty much transparent to you once you get your card set up in Apple Pay.
The main thing is the company you are buying something from never actually sees your real credit card number, it only sees the one time use number. If someone at that company steals that one time use number, or if their system gets hacked and the hacker gets the number, it is worthless since if they try to use it for another purchase again it will be rejected.
Thank you very much for the detailed reply - can't wait for Apple Pay to come online in Belgium!
Comments
For those of you who use Apple Pay on a regular basis, and without wishing to be indiscreet, how does an Apple Pay-mediated transaction appear on your bank/credit card statement?
Any news on when Discover Card will join ApplePay?
You should ask Discover.
The problem is that Discover had a NFC contactless payment system trial running for a while, then pulled the plug on it. Thus, they are basically starting from square one.
By contrast, Visa, MasterCard, and AMEX all have rolled out contactless payment systems over the years, which is why many of NFC POS terminals were compatible from Apple Pay on day one, even if the merchant in question did not officially support Apple Pay.
Apple Pay needs a web API to really really dominate payments IMHO.
Apple should come out with an API where supporting web checkout carts can query your phone/pad/keyboard/mouse for fingerprint payment.
I really don't want to install an app from any 1 vendor just because I want to buy 1 or 2 things from them every couple of months.
Take this scenario for instance...
I go to billybobslures.com on my Mac/iPhone/iPad and buy some night crawlers for my fishing trip next week. I go to checkout and click Apple Pay. The iphone/ipad/mightymouse3 asks for a fingerprint. Bam! card charged and shipping info filled out.. done.
Right now I need to install billybobslures' app to use ApplePay. That's just more trouble then it's worth.
Amazon and maybe Fandango are the only web vendors I might consider downloading an app for ApplePay. I mean.. download the Dominos app for Apple Pay pizzas? What if I feel like Pizza Hut today? Another app??!?!
The reason Apple Pay is popular with financial institutions is because of the security. The credit card/debit card isn't passed via the transaction and isn't even stored on the phone. It uses a secured token passed via NFC. That doesn't mean you're scenario isn't possible but the banks would need to get behind it and billbobs.com would need to be able to accept Apples tokens.
For those of you who use Apple Pay on a regular basis, and without wishing to be indiscreet, how does an Apple Pay-mediated transaction appear on your bank/credit card statement?
It appears exactly the same as if you swiped the card. There is nothing different about how the payment gets posted to your account.
When you set up your credit card in Apple pay, your phone contacts the bank that issues your card and tells them your card number and who you say your are. The bank then replies to the phone and verifies that the information is correct and tells your phone a certain formula to use to creat one time use credit card numbers that will be tied to your account. From that point on when you make a purchase your iPhone doesn't send out your actual credit card information, it uses the formula that you bank gave your phone to come up with a new one time use credit card number, and sends that new number to the POS system you are using the phone at. The POS system then uses that one time use number to contact your bank and your bank sees that one time use number, figures out what formula it is using, and then sees who's account is really being charged. Then they actually charge that purchase to your real credit card account number, and mark the one time use credit card number so it can never be used again for a purchase (they do keep track of it in case you need to make a return though). This isn't exactly how it works, but I believe it is a simplified version of pretty much what happens. It is kind of like how some credit cards companies will let you login to your account and get a one time use number to use at a website you aren't 100% confident in giving your real number to, except it is all pretty much transparent to you once you get your card set up in Apple Pay.
The main thing is the company you are buying something from never actually sees your real credit card number, it only sees the one time use number. If someone at that company steals that one time use number, or if their system gets hacked and the hacker gets the number, it is worthless since if they try to use it for another purchase again it will be rejected.
Apple Pay needs a web API to really really dominate payments IMHO.
Apple should come out with an API where supporting web checkout carts can query your phone/pad/keyboard/mouse for fingerprint payment.
I really don't want to install an app from any 1 vendor just because I want to buy 1 or 2 things from them every couple of months.
Take this scenario for instance...
I go to billybobslures.com on my Mac/iPhone/iPad and buy some night crawlers for my fishing trip next week. I go to checkout and click Apple Pay. The iphone/ipad/mightymouse3 asks for a fingerprint. Bam! card charged and shipping info filled out.. done.
Right now I need to install billybobslures' app to use ApplePay. That's just more trouble then it's worth.
Amazon and maybe Fandango are the only web vendors I might consider downloading an app for ApplePay. I mean.. download the Dominos app for Apple Pay pizzas? What if I feel like Pizza Hut today? Another app??!?!
You mean like https://stripe.com/apple-pay ?
Thank you very much for the detailed reply - can't wait for Apple Pay to come online in Belgium!