Apple announces 'Tap to Pay', lets users take payments on iPhone

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Comments

  • Reply 21 of 31
    GeorgeBMacGeorgeBMac Posts: 11,421member
    Marvin said:
    iOS_Guy80 said:
    Finally! This is a big deal for especially micro entrepreneurs, freelancers, taxis and small shops. Soft PoS will transform their lives as PoS currently requires a separate device either old school or android based with GPRS connection that can be flaky. Will be interesting to see how this takes off in countries where local custom or laws demand a paper receipt.

    Merchant acquisition of card payments is a huge business with quite tasty processing fees. I think Apple is on to a winner and I love how they keep adding incremental revenue services on a continuous basis. Many small rivers make a large torrent over time.
    Apple Pay, Apple Cash card, Apple credit card and now a payment network. Bravo. Bring on Apple Bank.
    An all-digital Apple Bank would be nice but they will likely build on traditional banks. Apple Cash is similar to a bank account, allowing up to $20k balance and uses Green Dot Bank behind the scenes:
    ...
    This way deposits are insured and regulated like a bank but on the outside it looks like a company brand offering the service.
    ...
    These services are much more accessible to people, especially younger people and international workers than traditional banking services. For most people, digital wallets like Apple Cash should be enough to replace a traditional bank account.
    Yes, U.S. economy is centered around the banking system with all of its checks, controls and balances.  It's one of the ways that protects electronic transfers:  Every bank customer is to be "known" by the bank and, if he receives or triggers an improper transfer its possible to track it and "fix" that problem.  (Although the Feds just did the same with Blockchain too and the couple faces 25 years of jail time).
    ... So, creating non-bank, digital transfers carries a lot of unintended consequences.

    And yes, meanwhile, AppleCash, although founded from the banking system, enables "non-bank customers" to transfer cash as if they were part of the banking system.  (My 15 year old grandson uses it instead of cash).
    The only thing it lacks is the ability to transfer funds the old way via check or ACH.

    To be honest, I would rather see more vendors using AppleCash than Tap-to-Pay.  But...  It's also good to see that responsible digital payment systems are growing and maturing.
    It's a matter of time before cash joins WallPhones in the antique shops.  The holdouts will be the criminals trying to avoid scrutiny.



  • Reply 22 of 31
    Two comments:

    1. I built an iOS app named Contact QR Code that displays a QR code with your vCard info.

    2. Brazil now has a free electronic payment system called Pix.
    williamlondonwatto_cobra
  • Reply 23 of 31
    22july201322july2013 Posts: 2,989member
    crowley said:
    Will the same spending limits apply here that currently exist with contactless payments?

    https://en.wikipedia.org/wiki/Contactless_payment#Floor_limit <--

    Presumably.  The limit applies to the card of the person paying, nothing to do with the transaction terminal.
    Well, when I called my card company, they said they don't enforce the limit. They said that's the bank's role. But maybe that's what you meant when you spoke of "the card."
  • Reply 24 of 31
    hmlongco said:
    Nice, but whatever happened to the tap to transmit contact information feature?
    Was that ever a thing on iOS? 
    I had an app called Bump on my first iPhone (3Gs), where you could tap your iPhone on another iPhone to send your contact information between devices. 
    I’ve just Googled it and it was acquired by Google and discontinued on iOS. 
    watto_cobra
  • Reply 25 of 31
    saareksaarek Posts: 1,380member
    Sigh, US only. Just like Apple Cash. It’s such a shame that Apple doesn’t bother to make things like this available to their other big markets like the U.K.
    williamlondonwatto_cobra
  • Reply 26 of 31
    Nice! Now let me just wait 7 years for this feature to eventually come to Finland.
    muthuk_vanalingamwilliamlondonwatto_cobra
  • Reply 27 of 31
    GeorgeBMacGeorgeBMac Posts: 11,421member
    saarek said:
    Sigh, US only. Just like Apple Cash. It’s such a shame that Apple doesn’t bother to make things like this available to their other big markets like the U.K.

    I don't think its entirely up to Apple.  There are lots of greedy, grubby, scared little hands involved in getting these payment systems operational.

    If it were only up to Apple these systems would be up and running from day one worldwide.
    watto_cobra
  • Reply 28 of 31
    Beats said:
    brianjo said:
    hmlongco said:
    Nice, but whatever happened to the tap to transmit contact information feature?
    There used to be an app called 'Bump'.  It was awesome. You could use it to easily transfer contacts, photos etc in a very easy way, simply by bumping devices together.  And, what made it even more awesome is that it was totally cross platform. Didn't matter if you had an Android phone or an iPhone. They simply connected.

    But, Google ended up buying the app and simply shut it down. No explanation given.

    Just one more example that shows these companies don't actually care about making products that do what customers want, but they want to make as much money as they possibly can, at every possible angle.  And there's not a thing you can do about it.

    The problem with “bump” is that there’s easier ways to do the same thing.

    For example, I just sent my mom some pictures in less than 30 seconds. I don’t wanna go to her house and bump her phone.
    In the case of sending pictures to your mom in another area, sure, you've already got her contact info in your phone.

    But, bump was great for in person connections where you didn't have that contact in your phone.  If you wanted to send a picture to someone that you didn't have contact info for OR didn't want to SHARE contact info with, but happened to be next to, BUMP was awesome.  
    watto_cobra
  • Reply 29 of 31
    crowleycrowley Posts: 10,233member
    crowley said:
    Will the same spending limits apply here that currently exist with contactless payments?

    https://en.wikipedia.org/wiki/Contactless_payment#Floor_limit <--

    Presumably.  The limit applies to the card of the person paying, nothing to do with the transaction terminal.
    Well, when I called my card company, they said they don't enforce the limit. They said that's the bank's role. But maybe that's what you meant when you spoke of "the card."
    No idea what this even means.  My bank issues my card, the card has the limit.  If you have another company involved that's causing you confusion then that's your problem.  I didn't say anything about the ultimate source of the limit on the card and I don't care about such things, it's irrelevant to your original question.
  • Reply 30 of 31
    crowley said:
    crowley said:
    Will the same spending limits apply here that currently exist with contactless payments?

    https://en.wikipedia.org/wiki/Contactless_payment#Floor_limit <--

    Presumably.  The limit applies to the card of the person paying, nothing to do with the transaction terminal.
    Well, when I called my card company, they said they don't enforce the limit. They said that's the bank's role. But maybe that's what you meant when you spoke of "the card."
    No idea what this even means.  My bank issues my card, the card has the limit.  If you have another company involved that's causing you confusion then that's your problem.  I didn't say anything about the ultimate source of the limit on the card and I don't care about such things, it's irrelevant to your original question.
    So I was right... you were referring to "the bank" when you wrote "the card." I'm glad that's settled. And I'm glad that your post is now clear to all readers. I'm happy I could help you out. We get along so well, don't we?
  • Reply 31 of 31
    crowleycrowley Posts: 10,233member
    crowley said:
    crowley said:
    Will the same spending limits apply here that currently exist with contactless payments?

    https://en.wikipedia.org/wiki/Contactless_payment#Floor_limit <--

    Presumably.  The limit applies to the card of the person paying, nothing to do with the transaction terminal.
    Well, when I called my card company, they said they don't enforce the limit. They said that's the bank's role. But maybe that's what you meant when you spoke of "the card."
    No idea what this even means.  My bank issues my card, the card has the limit.  If you have another company involved that's causing you confusion then that's your problem.  I didn't say anything about the ultimate source of the limit on the card and I don't care about such things, it's irrelevant to your original question.
    So I was right... you were referring to "the bank" when you wrote "the card." I'm glad that's settled. And I'm glad that your post is now clear to all readers. I'm happy I could help you out. We get along so well, don't we?
    You're so weird and irritating.  I said the card, and I was referring to the card.  Who sets the limit is irrelevant, it applies to the card.  You didn't help anything, and crap like this this is the reason we don't get on.
    watto_cobra
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