I get that Apple Payin part succeeded because the hardware at retail was already in place, but they also made it more secure and that is one thing that set Apple apart from Google's nfc payment started.
I get that Apple Payin part succeeded because the hardware at retail was already in place, but they also made it more secure and that is one thing that set Apple apart from Google's nfc payment started.
No reason to rehash old discussions but when Google started mobile payments a few years ago they used a very similar "secure element" on a chip within the phone itself just as Apple does now, and similarly as secure as Apple's is now. Now if you wanted to discuss which is more private I'd say Apple's probably is IMO.
The problem was never security. Google did about the same as Apple Pay does now on that front. The bigger problem was the carriers reticence (they had their own mobile payment plans) http://www.theverge.com/2012/12/10/3751538/verizon-google-wallet-galaxy-nexus-secure-element
coupled with a lack of compatible hardware on the retailer side. Both of those problems had been dealt with before Apple Pay was ever ready to launch. Google had crappy timing, poor PR and not enough "muscle". Thank goodness Apple came along with a mastery of all three. Millions of Android users would thank them.
JPM Chase needs to focus on improving it's banking performance than competing with Apple Pay. Let Apple put resources to develop and mature secure payment system and Chase to attract consumers to use Apple Pay but with Chase Visa or Maser card.
"Then there’s the not-so-small issue of security, which Apple went to great lengths to perfect. Android Pay uses tokenization to create virtual representations of your real card numbers, just like Apple Pay. The big difference between the two services is that Apple uses a Secure Element, a physical chip inside your phone, to store your encrypted financial data. Android Pay, like Google Wallet before it, uses Host Card Emulation, storing your encrypted data in the cloud."
They don't anymore, but originally they did. They dropped the requirement for a hardware based secure element (very similar to what Apple now uses) a few years ago to bypass the carriers who were blocking its use. I won't be surprised if they go back to it at some point( now that Verizon and others have bought in to Apple Pay.
I must be missing something here. CurrentC was developed for/by merchants to bypass credit card processing fees from banks and credit card processors by having the merchant directly tap consumers bank accounts. Chase owns Paymentech which is one of the biggest credit card processors there is. Why would Chase and CurrentC be throwing in together?
JPM Chase needs to focus on improving it's banking performance than competing with Apple Pay. Let Apple put resources to develop and mature secure payment system and Chase to attract consumers to use Apple Pay but with Chase Visa or Maser card.
JPMC's credit card division is doing very well. In the entire world, they are the single biggest credit card issuer by amount outstanding, 20% more than #2, BofA. They are the largest issuer of corporate cards in the US. They have the highly rated middle-market rewards card (Freedom) and miles card (Sapphire Preferred). I saw something that their average spend is per card has almost overtaken Amex. On the acquiring side, they are the third largest merchant bank in the world.
No reason to rehash old discussions but when Google started mobile payments a few years ago they used a very similar "secure element" on a chip within the phone itself just as Apple does now, and similarly as secure as Apple's is now. Now if you wanted to discuss which is more private I'd say Apple's probably is IMO.
coupled with a lack of compatible hardware on the retailer side. Both of those problems had been dealt with before Apple Pay was ever ready to launch. Google had crappy timing, poor PR and not enough "muscle". Thank goodness Apple came along with a mastery of all three. Millions of Android users would thank them.
Google Wallet had a SE but didn't do the tokenization Apple Pay does. It suffered from lots of security vulnerabilities. Google it.
Lots of Android phones lacked a SE as you noted. Wallet was thrown on a plate before it was finished. It resulted in an expensive failure.
There's no way to honestly equate Google's premature ejaculation with Apple's successfully birthing a product because it knows how to pace its delivery. Make all the excuses you want: Google failed and Apple knocked it out of the park. Over and over and over: NFC, fingerprint scanners, 4G, high resolution screens. Every time Google sloppily shot first, but then Apple moved in and successfully conceived a new baby.
History in the future won't be written by failures. And the future in the present to being delivered by Apple, not Alphabet.
Google Wallet had a SE but didn't do the tokenization Apple Pay does. It suffered from lots of security vulnerabilities. Google it.
I did. It wouldn't hurt for you to acknowledge the props I give Apple instead of imagining I complained about them. I certainly had no problem giving Apple credit for putting all the pieces together (and noting millions of Android users thank them for that ).
Also wouldn't hurt you to acknowledge Google was on the right track afterall. It just took better timing, connections, and a company like Apple to put the finishing touches on it, something Google couldn't do 5 years ago.
"Then there’s the not-so-small issue of security, which Apple went to great lengths to perfect. Android Pay uses tokenization to create virtual representations of your real card numbers, just like Apple Pay. The big difference between the two services is that Apple uses a Secure Element, a physical chip inside your phone, to store your encrypted financial data. Android Pay, like Google Wallet before it, uses Host Card Emulation, storing your encrypted data in the cloud."
They don't anymore, but originally they did. They dropped the requirement for a hardware based secure element (very similar to what Apple now uses) a few years ago to bypass the carriers who were blocking its use. I won't be surprised if they go back to it at some point( now that Verizon and others have bought in to Apple Pay.
Actually they never bought into Apple pay, they just did not have a choice since Apple does not allow them access to the phone unlike Android phones where they can load their own software on the phones and block the use of Google pay since they were trying to launch their own pay service.
My only gripe is that Apple didn't include the necessary hardware in the iPhone 5s to enable Apple Pay. I'm not going to buy a new phone or an Apple Watch just to get Apple Pay. That said, knowing first hand the incompetence of Chase, I guess I'll be paying the old fashioned way for some time.
One of the main reasons I'm waiting until the iPhone 7 is released.
The big difference between the two services is that Apple uses a Secure Element, a physical chip inside your phone, to store your encrypted financial data."
That's not true...! Apple does use a Secure Element - but it definitely does NOT store ANY of your financial data - encrypted or otherwise - on the phone itself! It stores the devices unique ID, the token (which is useless by itself) and several other things - but none of it is a users actual financial data.
Chase is my primary credit card issuer, and I like them, but if they show any decreased support for Apple Pay, I'll abandon them in a heartbeat.
same here. I currently have 3 Chase cards in my Apple Pay, but if the fuk with my Apple Pay, I have no issue to ditch them: Amazon Visa, Chase Visa and Chase debit. My Citibank and Barclay cards are waiting in line to.be added beside my 2 American Exp.
No reason to rehash old discussions but when Google started mobile payments a few years ago they used a very similar "secure element" on a chip within the phone itself just as Apple does now, and similarly as secure as Apple's is now. Now if you wanted to discuss which is more private I'd say Apple's probably is IMO.
The problem was never security. Google did about the same as Apple Pay does now on that front. The bigger problem was the carriers reticence (they had their own mobile payment plans) http://www.theverge.com/2012/12/10/3751538/verizon-google-wallet-galaxy-nexus-secure-element
coupled with a lack of compatible hardware on the retailer side. Both of those problems had been dealt with before Apple Pay was ever ready to launch. Google had crappy timing, poor PR and not enough "muscle". Thank goodness Apple came along with a mastery of all three. Millions of Android users would thank them.
did you pull these info out of your asz? Google secured element is nothing like Apple. Also, Apple ain't store any user's financial information anywhere on the phone. I don't know where the hell you get that information from. Google used Virtual card backed by BankCop to authorize the transaction for Google Wallet and then charge back to user's credit cards preloaded on Google Cloud. Apple Pay on the other hand is the process where the credit card issuers directly authenticate the cards at the time you add them to your Apple Pay with unique token codes loaded in NFC chip. Your iPhone stores nothing, but only the face of your card with no number.
My only gripe is that Apple didn't include the necessary hardware in the iPhone 5s to enable Apple Pay. I'm not going to buy a new phone or an Apple Watch just to get Apple Pay. That said, knowing first hand the incompetence of Chase, I guess I'll be paying the old fashioned way for some time.
yes, if only Apple had chosen to go back in time and add it to devices that didn't have the hardware capabilities to use it to begin with. :rolleyes:
yes, if only Apple had chosen to go back in time and add it to devices that didn't have the hardware capabilities to use it to begin with. :rolleyes:
You act as if the missing chips didn't exist before the iPhone 6. Apple could have put the capability in the prior model and utilize it in in a later software release. I am an Apple supporter but sometimes they squeeze the customer too hard. I keep my cell phones for several years and don't flip them. Now that I think about it, when I bought my iPhone 5s I thought that with the fingerprint sensor all the pieces would be in place for some sort of Apple Pay system but such was not the case.
Well since it wouldn't be their financial information that would be stolen when the cloud archive got hacked I can see their viewpoint while not agreeing with it.
Comments
I get that Apple Payin part succeeded because the hardware at retail was already in place, but they also made it more secure and that is one thing that set Apple apart from Google's nfc payment started.
The problem was never security. Google did about the same as Apple Pay does now on that front. The bigger problem was the carriers reticence (they had their own mobile payment plans) http://www.theverge.com/2012/12/10/3751538/verizon-google-wallet-galaxy-nexus-secure-element
coupled with a lack of compatible hardware on the retailer side. Both of those problems had been dealt with before Apple Pay was ever ready to launch. Google had crappy timing, poor PR and not enough "muscle". Thank goodness Apple came along with a mastery of all three. Millions of Android users would thank them.
Yes I saw the link and read the "reviews" although hardly anyone can use it. Here's what I found on the CurrentC website:
BETA ROLLOUT NOW IN COLUMBUS, OH.
Right now we’re previewing CurrentC with the great people of Columbus, OH. Residents, head to the app store to download your sneak peek now.
So I found the answer to my own question... it's been a year and it still hasn't launched yet.
Meanwhile... Apple Pay continues to grow.
http://www.macworld.com/article/2927428/how-google-took-a-page-from-apple-to-secure-android-pay.html
"Then there’s the not-so-small issue of security, which Apple went to great lengths to perfect. Android Pay uses tokenization to create virtual representations of your real card numbers, just like Apple Pay. The big difference between the two services is that Apple uses a Secure Element, a physical chip inside your phone, to store your encrypted financial data. Android Pay, like Google Wallet before it, uses Host Card Emulation, storing your encrypted data in the cloud."
JPM Chase needs to focus on improving it's banking performance than competing with Apple Pay. Let Apple put resources to develop and mature secure payment system and Chase to attract consumers to use Apple Pay but with Chase Visa or Maser card.
JPMC's credit card division is doing very well. In the entire world, they are the single biggest credit card issuer by amount outstanding, 20% more than #2, BofA. They are the largest issuer of corporate cards in the US. They have the highly rated middle-market rewards card (Freedom) and miles card (Sapphire Preferred). I saw something that their average spend is per card has almost overtaken Amex. On the acquiring side, they are the third largest merchant bank in the world.
No reason to rehash old discussions but when Google started mobile payments a few years ago they used a very similar "secure element" on a chip within the phone itself just as Apple does now, and similarly as secure as Apple's is now. Now if you wanted to discuss which is more private I'd say Apple's probably is IMO.
The problem was never security. Google did about the same as Apple Pay does now on that front. The bigger problem was the carriers reticence (they had their own mobile payment plans) http://www.theverge.com/2012/12/10/3751538/verizon-google-wallet-galaxy-nexus-secure-element
coupled with a lack of compatible hardware on the retailer side. Both of those problems had been dealt with before Apple Pay was ever ready to launch. Google had crappy timing, poor PR and not enough "muscle". Thank goodness Apple came along with a mastery of all three. Millions of Android users would thank them.
Google Wallet had a SE but didn't do the tokenization Apple Pay does. It suffered from lots of security vulnerabilities. Google it.
Lots of Android phones lacked a SE as you noted. Wallet was thrown on a plate before it was finished. It resulted in an expensive failure.
There's no way to honestly equate Google's premature ejaculation with Apple's successfully birthing a product because it knows how to pace its delivery. Make all the excuses you want: Google failed and Apple knocked it out of the park. Over and over and over: NFC, fingerprint scanners, 4G, high resolution screens. Every time Google sloppily shot first, but then Apple moved in and successfully conceived a new baby.
History in the future won't be written by failures. And the future in the present to being delivered by Apple, not Alphabet.
Also wouldn't hurt you to acknowledge Google was on the right track afterall. It just took better timing, connections, and a company like Apple to put the finishing touches on it, something Google couldn't do 5 years ago.
The Google system reportedly does not use a Secure Element but rather host card emulation, storing all the information in the cloud.
http://www.macworld.com/article/2927428/how-google-took-a-page-from-apple-to-secure-android-pay.html
"Then there’s the not-so-small issue of security, which Apple went to great lengths to perfect. Android Pay uses tokenization to create virtual representations of your real card numbers, just like Apple Pay. The big difference between the two services is that Apple uses a Secure Element, a physical chip inside your phone, to store your encrypted financial data. Android Pay, like Google Wallet before it, uses Host Card Emulation, storing your encrypted data in the cloud."
Host Card Emulation is actually Mastercard and Visa's own standard (http://www.sequent.com/host-card-emulation/). So they evidently consider it sufficiently secure.
Actually they never bought into Apple pay, they just did not have a choice since Apple does not allow them access to the phone unlike Android phones where they can load their own software on the phones and block the use of Google pay since they were trying to launch their own pay service.
One of the main reasons I'm waiting until the iPhone 7 is released.
That's not true...! Apple does use a Secure Element - but it definitely does NOT store ANY of your financial data - encrypted or otherwise - on the phone itself! It stores the devices unique ID, the token (which is useless by itself) and several other things - but none of it is a users actual financial data.
Either Chase executives don't get "lucky" enough after Ashley Madison's mess ... or CurrentC's boss give really good head!!
yes, if only Apple had chosen to go back in time and add it to devices that didn't have the hardware capabilities to use it to begin with. :rolleyes:
You act as if the missing chips didn't exist before the iPhone 6. Apple could have put the capability in the prior model and utilize it in in a later software release. I am an Apple supporter but sometimes they squeeze the customer too hard. I keep my cell phones for several years and don't flip them. Now that I think about it, when I bought my iPhone 5s I thought that with the fingerprint sensor all the pieces would be in place for some sort of Apple Pay system but such was not the case.
Host Card Emulation is actually Mastercard and Visa's own standard (http://www.sequent.com/host-card-emulation/). So they evidently consider it sufficiently secure.
Well since it wouldn't be their financial information that would be stolen when the cloud archive got hacked I can see their viewpoint while not agreeing with it.