Monepone

supadav03 said:

chia said:

As far as you know?
You are truly a First Data employee working in the relevant area?

A five minute search on Google using the terms Apple Pay, tokenisation and First Data led me to this First Data Presentation about Apple Pay:

https://www.firstdata.com/downloads/marketing-fs/First-Data-Integrated-Tokenization-Services-Webinar.pdf

The presentation itself declares how "Apple Pay will leverage the global tokenisation standard"

It then goes into great technical detail about how both tokenisation and Apple Pay work.


So why, as an employee, are you not aware of this?
Thank you for your candour.

My comment was not about Apple Pay but about tokenization being used for Samsung NFC payments and not Samsung MST payments. That was my understanding. And while I do work for First Data I am not associated with the department that provides these services. Although, as a whole, we were all shown a presentation on it because First Data was very excited to be associated with these companies and wanted to make all employees aware.

Obviously we all know Apple Pay uses tokenization and encryption, that's basically the #1 reason to use it! For the added security.

FYI, Samsung Pay uses tokenization on both NFC and MST transactions. As of right now Samsung Pay users have the most secure transactions of all the digital wallets because they don't have to worry about whether a retailer has EMV, or NFC. All transactions are tokenized, even on old terminals that don't support EMV or NFC. A  simple google search would tell you that. Meanwhile, Apple Pay and Android Pay users have to hope the merchant either supports NFC or EMV, otherwise they have to do a plain old swipe, which exposes your account data to the merchant, not to mention that annoyance of waiting ten seconds for your chip card to authenticate. That does become quite annoying after a bit. Samsung Pay users don't ever have to even bother with inserting chip cards. I know it's easy to hate on Samsung, but they got their implementation of MST right. They have also indicated willingness to license the technology to third parties, so Apple could possibly integrate this technology into Apple Pay at some point. MST is a game changer here in the US and other countries where NFC and EMV adoption is anemic at best, so keep an open mind about it.

sog35 said:

Samsung Pay: We are accepted at stores that have credit card terminals that are unsafe and easily open to fraud.

besides the point I've read many articles that said loop pay is extremely unreliable. To the point its not even worth using.

That claim is simply not true... Samung pay makes paying at EMV/NFC enabled and non-EMV/NFC terminals more secure because ALL Samsung Pay transactions are tokenized. Samsung Pay uses tokenization and bio-metrics, and is isolated from the OS just like Apple Pay. I've used it at countless places and it works nearly everywhere, and works well. The exceptions have been at gas pumps and ATMs. Gas pumps in particular do not work with Samsung Pay because they perform a pre-authorization for a fixed amount and then a subsequent authorization for the final amount, which tokenized payments do not allow.

As for Loop Pay, it doesn't use tokenization and doesn't work with EMV enabled terminals as of yet. That means LoopPay is as secure as a plain old swipe, but it functions very well as long as you aren't trying to use LoopPay at an EMV enabled terminal. I used LoopPay for several months year before last and it pretty much worked everywhere I ever tried it, including gas pumps.