Apple Pay adds BECU, BBVA Compass, others ahead of rumored 'Samsung Pay' launch

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  • Reply 21 of 30
    xixoxixo Posts: 430member

    Quote:
    Originally Posted by Michael Scrip View Post



    I was just pointing out that at the present rate... it will take a long time to get the 500 banks that Apple mentioned.



    50 banks in 3 months... 500 banks in 30 months (?)



    I'm sure the process is becoming more streamlined though.



    I'm just excited for the day Apple drops the motherload of 100 new banks in a single press release. image


     

    Seems like there's back-end infrastructure changes required at the issuing bank to receive the tokenized credit card data that is transmitted in lieu of the real credit card info.

     

    Those processes are fundamental - you test early and often when making a change to the heart of your credit authorization system.

     

    I'm sure Apple, Visa, MC et al have a team ready to provide assistance to member banks, but the banks and Apple will absolutely not rush this.

     

    They also will not spread the ?Pay transition team team too thin, or stress them out, or harangue them ("work faster stupid!")

     

    Haste makes more than waste, it also makes insecure systems. And bad publicity. And liability...

     

    Quote:

    Originally Posted by Robin Huber View Post



    What difference does it make if 400 banks all take Apple Pay when so few merchants do. I've been using my Bank of America MasterCard at the same two or three merchants since day one. If Apple doesn't get better penetration than this before the hoards of copycats start rolling out, it could be trouble. I'd like to see Apple take some if its hoard of cash and underwrite properly equipped NFC terminals for merchants. Or maybe just give them out for free.

     

    There's also back-end infrastructure changes required at the merchant. I've tried to use my iPhone several times at my favorite grocer (small local chain) - the lights on the POS light up (NFC sensor) but the card always comes back declined. When I swipe the same card manually it goes through just fine.

     

    The Passbook app on the phone tells you when charges are approved or declined at an approved retailer, but if I try to pay with it at a non-participating merchant, I never see any warning at all - it's like an arrow uselessly bouncing off an armored car.

  • Reply 22 of 30
    xixo wrote: »
    Seems like there's back-end infrastructure changes required at the issuing bank to receive the tokenized credit card data that is transmitted in lieu of the real credit card info.

    Those processes are fundamental - you test early and often when making a change to the heart of your credit authorization system.

    I'm sure Apple, Visa, MC et al have a team ready to provide assistance to member banks, but the banks and Apple will absolutely not rush this.

    They also will not spread the ?Pay transition team team too thin, or stress them out, or harangue them ("work faster stupid!")

    Haste makes more than waste, it also makes insecure systems. And bad publicity. And liability...

    Yeah... I don't want them to rush.

    I was just noting the speed at which they are adding new banks.
  • Reply 23 of 30
    thrangthrang Posts: 895member
    According to Forbes, Apple has 7 of the top 10 US Banks already signed up, including the top 4 (Chase, Bank of America, Citi, and Wells Fargo) who's combined assets dwarf the three not yet involved (#5 BNY Mellon, #6 US Bancorp, and #7 HSBC)

    Others on the top ten that support Apple Pay are #8 PNC, #9 Capital One, and #10 TD Bank.

    So not bad...
  • Reply 24 of 30
    BECU hasn't been Boeing Employee Credit Union since it was spun off years ago


    It is still Boeing Employees Credit Union. They just opened it up to all Washington State residents and anyone who works directly or indirectly with Boeing.

    Certificate Info:

    Website: www.becu.org
    Owner: Boeing Employees Credit Union
    Verified by: Symantec Corporation

    SSL Client Certificate

    Issued To
    Common Name (CN) www.becu.org
    Organization (O) Boeing Employees Credit Union
    Organizational Unit (OU) IT Network Security
    Serial Number 4A:39:79:94:FC:70:BC:0F:00:74:54:F5:05:81:DF:0A

    Period of Validity
    Begins On 11/24/2014
    Expires On 11/25/2016


    whois becu.org
    Domain Name:BECU.ORG
    Domain ID: D10531-LROR
    Creation Date: 1995-07-25T04:00:00Z
    Updated Date: 2014-02-13T18:53:32Z
    Registry Expiry Date: 2019-07-24T04:00:00Z
    Sponsoring Registrar:Network Solutions, LLC (R63-LROR)
    Sponsoring Registrar IANA ID: 2
    WHOIS Server:
    Referral URL:
    Domain Status: clientDeleteProhibited
    Domain Status: clientTransferProhibited
    Domain Status: clientUpdateProhibited
    Registrant ID:2288306-NSIV
    Registrant Name:Perfect Privacy, LLC
    Registrant Organization:BOEING EMPLOYEES CREDIT UNION
    Registrant Street: 12808 Gran Bay Parkway West
    Registrant Street: care of Network Solutions
    Registrant City:Jacksonville
    Registrant State/Province:FL
    Registrant Postal Code:32258
    Registrant Country:US
    Registrant Phone:+1.5707088780
    Registrant Phone Ext:
    Registrant Fax:
    Registrant Fax Ext:
    Registrant Email:[email protected]
    Admin ID:2288307-NSIV
    Admin Name:Perfect Privacy, LLC
    Admin Organization:
    Admin Street: 12808 Gran Bay Parkway West
    Admin Street: care of Network Solutions
    Admin City:Jacksonville
    Admin State/Province:FL
    Admin Postal Code:32258
    Admin Country:US
    Admin Phone:+1.5707088780
    Admin Phone Ext:
    Admin Fax:
    Admin Fax Ext:
    Admin Email:[email protected]
    Tech ID:2288307-NSIV
    Tech Name:Perfect Privacy, LLC
    Tech Organization:
    Tech Street: 12808 Gran Bay Parkway West
    Tech Street: care of Network Solutions
    Tech City:Jacksonville
    Tech State/Province:FL
    Tech Postal Code:32258
    Tech Country:US
    Tech Phone:+1.5707088780
    Tech Phone Ext:
    Tech Fax:
    Tech Fax Ext:
    Tech Email:[email protected]
    Name Server:SDNS53.ULTRADNS.ORG
    Name Server:SDNS53.ULTRADNS.COM
    Name Server:SDNS53.ULTRADNS.NET
    Name Server:SDNS53.ULTRADNS.BIZ
    Name Server:
    Name Server:
    Name Server:
    Name Server:
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    Name Server:
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    DNSSEC:Unsigned
    ]
  • Reply 25 of 30

    FanDroids hate a walled-garden and want an open and free ecosystem - they must hate the idea of ApplePay... lets see how their  on with their credit card information

  • Reply 26 of 30
    "LoopPay works differently than Apple Pay, and it remains to be seen how useful it will remain as the U.S. switches away from magnetic stripes in the coming years. LoopPay uses what it calls "magnetic secure transmission," which "spoofs" a traditional card swipe with magnetic fields when a user holds their device near a payment terminal. Samsung is likely to have chosen this route in order to get a competing solution out as quickly as possible"

    Sounds rock solid. The "getting a solution out as quickly as possible" gives me all the confidence in the world that this will be a success and protect my financial information. Well done Scamsung, well done!
  • Reply 27 of 30
    Quote:

    Originally Posted by Robin Huber View Post



    What difference does it make if 400 banks all take Apple Pay when so few merchants do. I've been using my Bank of America MasterCard at the same two or three merchants since day one. If Apple doesn't get better penetration than this before the hoards of copycats start rolling out, it could be trouble. I'd like to see Apple take some if its hoard of cash and underwrite properly equipped NFC terminals for merchants. Or maybe just give them out for free.



    I agree, getting banks on board is not the problem. Need more large retailers accepting Apple Pay.

     

    Even if I am a member of the 500th top bank, I also have an Amex card or something so that isn't the issue.

  • Reply 28 of 30
    Quote:

    Originally Posted by kellya74u View Post

     

    I have asked many retail cashiers if I can use Apple Pay, & the response I get is, "I don't know what it is" or, " I haven't even heard of it." It would be nice to hand them a business card sized info sheet explaining it, or better yet, to the head cashier/store manager. Apple could assist its Apple Pay users to get the word out by having a PDF download for business cards so that users can print out these info sheets/cards to stick in your wallet or purse.  It would have a brief summary of what Apple pay is & how it benefits businesses by lowering overhead & preventing fraud. It would contain an Apple website for further detailed information on the benefits, designed specifically for the retailers & their banks. Since not everyone is familiar with printing that format, then perhaps 4-up on a sheet of paper that can be cut. I would be glad to do it, as I already spend the time with an often puzzled cashier who may not retain nor pass on the info because he/she wants to check out the rest of the people in line. Getting the info into a store management person's hand can cause discussion at store staff meetings, emails up & down the chain with inquires & responses. At least the store would have a better answer for their customer inquiries such as, "we're looking into it," "it's not for us at this time or, "we use another system."




    I agree, at almost every Subway or McDonald's I go to, they have no idea what Apple Pay is. However, I found that if I say "Can I pay with my phone?" They seem to get the idea and will know what you mean.

     

    Other than that, they need to add the Apple Pay logo to the front of the door, like all other retailers already do with the Visa, MC, Amex logos. That would also help and I've only seen it at a few places.

  • Reply 29 of 30


    BECU hasn't been Boeing Employee Credit Union since it was spun off years ago


     

    BECU was never spun off, it has always been an independent financial institution started by a group of Boeing employees in the 1930's. In 2002, their charter was revised to allow any Washington state resident to become a member, but the initials still stand for the original name.

  • Reply 30 of 30
    noelosnoelos Posts: 118member
    kpom wrote: »
    SPay?

    Is that neutering an animal? Seems appropriate.
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