Apple Pay picks up 39 new banks, credit unions in run-up to Apple Watch

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  • Reply 20 of 33
    paulmjohnsonpaulmjohnson Posts: 1,380member
    Quote:

    Originally Posted by John.B View Post



    The problem isn't on the banking side, its on the retailer side.



    It's not on the banking side if your bank supports it.

     

    HSBC, the second biggest bank in the world, still don't support it.

     

    Fuckers!

  • Reply 22 of 33
    misamisa Posts: 827member
    mac_128 wrote: »
    Merchants are being forced into upgrading their terminals by the credit card companies or otherwise bear the brunt of fraud charge. By October every merchant will have an ?Pay compatible terminal or be on the hook for fraud charges.

    That's mostly true. Small sellers that are using Square/Square Register don't have EMV/NFC capable card readers. Paypal Here does offer a EMV unit... in Europe, but not Canada. Square has a preorder for their chip reader, but it lacks a pinpad so I really don't know if that's kosher for PCI compliance, but I guess we will see. (If Paypal wants to get the leg up on Square, they would release their EMV reader now, to everyone.)

    All other alternatives for small business are a huge joke. Nobody who sells their products at conventions/food trucks wants to be paying monthly for a service that they only need for 3 months out of the year. The running joke around here is that "Square, you'd love to use it, but the Convention center is either a concrete bunker", second to "You'd love to use Square, but you're at a convention outside the area you signed up for."
    sog35 wrote: »
    I guess it depends.  Here in Austin a ton of people use ApplePay at WholeFoods.  The first week it was implemented the cashier even said to me that its really taking off.

    Bottom line is the prime motivation for the merchants is if they want to provide great customer service.  If they don't care (like Walmart) the added cost no matter how small is not worth it.  For those POS stores they can die and mine data from people who will always buy the cheapest no matter how crappy the quality of product or service is.

    Target, Bestbuy and Walmart in Canada (at least the ones I've been to, Target's leaving pretty soon) have their own branded POS systems, so they'd have to make more significant changes. On the plus side the equipment manufacturers have been selling the exact same EMV/NFC equipment to their Canadian stores.

    The U-scan self-checkouts that Safeway and Superstore/Loblaws have here in Canada were retrofitted with EMV/NFC readers, and they're already on a second generation of them. The first generation of NFC supporting equipment was notoriously flaky.
  • Reply 23 of 33
    mac_128mac_128 Posts: 3,428member
    Quote:

    Originally Posted by Misa View Post





    That's mostly true. Small sellers that are using Square/Square Register don't have EMV/NFC capable card readers.

    As you point out, Square has a pre-order for the chip reader. I also seem to recall reading they were going to offer EMV/NFC compatibility. However, the latter is not part of the credit card company mandate, the chip reader is. But the PIN is a part of the mandate, right? So if Square doesn't use it, then who's on the hook for the fraud charges? I'm sure the merchants won't want to be, and I doubt seriously the Square can afford to be. And for an extremely successful Apple-centric startup, I can't imagine they wouldn't want to enable ?Pay as quickly as possible. It shouldn't cost Square anything, right? The banks pay the transaction rate to Apple, right? 

  • Reply 24 of 33
    gatorguygatorguy Posts: 20,593member
    mac_128 wrote: »
    As you point out, Square has a pre-order for the chip reader. I also seem to recall reading they were going to offer EMV/NFC compatibility. However, the latter is not part of the credit card company mandate, the chip reader is. But the PIN is a part of the mandate, right? So if Square doesn't use it, then who's on the hook for the fraud charges? I'm sure the merchants won't want to be, and I doubt seriously the Square can afford to be. And for an extremely successful Apple-centric startup, I can't imagine they wouldn't want to enable ?Pay as quickly as possible. It shouldn't cost Square anything, right? The banks pay the transaction rate to Apple, right? 
    Can't the PIN be entered on the keypad just as you would at the check-out counter? Perhaps I'm not understanding something.

    EDIT: Did some quick reading and answered my own question. The keypad and reader must be separate. Got it. By the way I learned something else too, what EMV stands for: Europay, Mastercard, Visa
  • Reply 25 of 33
    wookie01wookie01 Posts: 38member
    I suspect that the 4-5 top banks in Australia would cover 95% of people. As for retailers most already accept NFC. So hope they hurry up and sign a few deals otherwise I'll be missing out on one of the main functions of my apple watch (given I'm still on an iPhone 5 :))
  • Reply 26 of 33
    maclvr03maclvr03 Posts: 188member
    maltz wrote: »

    ... I started card shopping and found Citi's Double Cash card, which supports ApplePay and has 2% cash back on everything instead of Discover's 1%.  Now I use Citi's card for almost everything, and only use the Discover for the 5% stuff.

    Is there an annual fee on that card?
  • Reply 27 of 33
    maltzmaltz Posts: 134member
    Quote:
    Originally Posted by maclvr03 View Post





    Is there an annual fee on that card?



    There is not.

     

    Citi® Double Cash Card

  • Reply 28 of 33
    john.bjohn.b Posts: 2,720member
    Quote:

    Originally Posted by Dr Millmoss View Post

     
    Quote:
    Originally Posted by John.B View Post



    The problem isn't on the banking side, its on the retailer side.

     

    Quote:
    Originally Posted by Robin Huber View Post



    The problem is on the retailer side all right. Not enough of them. Even those who are officially on board are glacially slow to employ. Apple needs to offer incentives, especially to smaller businesses: underwrite or give them the hardware free.

     

    It's both. None of the four cards I carry in my wallet are supported yet.


     

    I feel your pain.  I just want people to understand that, the day their banks do get off dead center and offer support for Apple Pay, the opportunities to actually make use of it is still pretty slim.   (Don't get your hopes up.)

  • Reply 29 of 33
    dr. xdr. x Posts: 173member
    Quote:

    Originally Posted by Dr Millmoss View Post

     



    Discover is one of the big fish we have to know Apple wants on board. We can only guess at why some banks are signing onto Apple Pay and others are not, but it's fair to assume that money has a lot to do with it. Harder to explain is why many of the large banks only partially support Apple Pay. What's up with that? Obviously Apple has made a big push for credit unions, but conspicuously absent from the list are hundreds if not thousands of community banks. If Apple has any sort of plan to bring them into Apple Pay, then it isn't working.


     

    I just spoke with Discover about an account question and also asked about Apple Pay and they said that by the end of the year we would see Discover Card on board but hopefully sooner.

  • Reply 30 of 33
    dr millmossdr millmoss Posts: 5,403member
    Quote:

    Originally Posted by Dr. X View Post

     

     

    I just spoke with Discover about an account question and also asked about Apple Pay and they said that by the end of the year we would see Discover Card on board but hopefully sooner.




    Interesting. I wonder what takes six+ months work out.

  • Reply 31 of 33
    dr. xdr. x Posts: 173member
    Quote:

    Originally Posted by Dr Millmoss View Post

     



    Interesting. I wonder what takes six+ months work out.


     

    I wonder the same thing as other credit cards like Visa, MasterCard, and American Express were read at the start.

  • Reply 32 of 33
    maltzmaltz Posts: 134member
    Quote:

    Originally Posted by Dr. X View Post

     

     

    I just spoke with Discover about an account question and also asked about Apple Pay and they said that by the end of the year we would see Discover Card on board but hopefully sooner.




    Well, that is the first time I've ever heard any kind of date, so there is that, but... the end of the year?!?  That's even after the October EMV deadline (which they already support - I have a Discover card with an EMV chip in it).  Oh well, as I've said... I've moved on.

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