Android Pay, Samsung Pay, Apple Pay, Google Wallet...

[rudeguy]

I don't get the necessity of having all these different mobile wallets. I actually don't get mobile wallets at all. Swiping my CC is much faster than digging my phone out, waiting for NFC to connect, verifying the purchase....

I also look at it from the backend of things. This just adds at least 3 more points for data to be breached: your phone, the mobile payment processor and the provider (Apple, Samsung, Google). If I understand this correctly, the transaction goes: phone > POS terminal > mobile payment server > provider > mobile payment server > customer bank > mobile payment server > POS terminal. With all the large data breaches lately, why would you want to risk your data being with more companies and going through so many different servers?

So what is the appeal here? Do we need every phone maker, service provider and guy on the corner offering mobile wallets? Do we need mobile wallets?

 

[Midwayman]

I like the idea as an option. It allows me to lighten my wallet a bit if I can visualize less used cards. However I dislike the idea of having to hand over my phone to pay for things. Make it combine with things like loyalty cards, membership cards, etc,etc.

For example I have a costco amex that I only ever use there. Its also my membership card to get in. Not having to carry that around for the few times I use it would be nice.

 

[EightySix Four]

I don't get the necessity of having all these different mobile wallets. I actually don't get mobile wallets at all. Swiping my CC is much faster than digging my phone out, waiting for NFC to connect, verifying the purchase....

I also look at it from the backend of things. This just adds at least 3 more points for data to be breached: your phone, the mobile payment processor and the provider (Apple, Samsung, Google). If I understand this correctly, the transaction goes: phone > POS terminal > mobile payment server > provider > mobile payment server > customer bank > mobile payment server > POS terminal. With all the large data breaches lately, why would you want to risk your data being with more companies and going through so many different servers?

So what is the appeal here? Do we need every phone maker, service provider and guy on the corner offering mobile wallets? Do we need mobile wallets?

I personally like paying with my phone but you do have a piece missing, at least with Apple and Google's NFC payment solution. The number they send over the system is not your CC number, in Google's case it is a generated MasterCard number which then links back to them to transfer the funds from your card, to the virtual number, and then it goes through the process. Apple generates a new "token" with each transaction that is effectively the same thing.

 

[razel]

When done right, aka Google Wallet and Apple Pay... it is FAR more secure than U.S. credit cards. There is no financial data to breach. What these system focus on is a unique transaction ID that doesn't directly involve your CC number or personal information. It doesn't transfer your financials or personal info. It's essentially a number that uniquely identifies your order and that both systems have confirmed that you agreed to pay for it.

Unlike your CC number and personals, if you take that data, unencrypt and try to use it, it's useless. Even if you repeat the data to purchase more, it'll ignore it. Of course, my explanation is oversimplified. I wish more places other than McDonalds, Macy's and Staples use it.

 

[Red Storm]

You may not need them, but I find them quite useful. More secure too.

 

[cmdrdredd]

I like doing NFC payments. I wish it was available everywhere. I just hope that all these different methods don't segment the market any.

 

[Suspicious-Teach8788]

NFC payments the way Apple has implemented is pretty awesome. With that said Wallet isn't too far behind but your screen needs to be on. That and the lack of a fingerprint scanner makes Apple Pay far more user friendly.

But on a more serious note, this needs to go further than NFC payments. What about subway and transit cards? That's where my life would be easier and I could lighten my wallet if these things worked. Furthermore, what about an overall digital wallet transformation?

It'd be nice to not have to carry my health insurance card, or AAA card. I already don't and rely on photos of those stored on Drive. Its a risk, but I figure if I'm paralyzed in the hospital, they would give me some time to figure out my insurance.

 

[AznAnarchy99]

I don't think I've seen one person use Apple Pay out in the wild yet.

 

[KentState]

Retailers love it because it makes the buying process much more compulsive. Think about it, you are no longer looking at dollar bills or having to plan out taking a CC with you. 100% of your credit is with you to use at all times.

 

[ChAoTiCpInOy]

Retailers love it because it makes the buying process much more compulsive. Think about it, you are no longer looking at dollar bills or having to plan out taking a CC with you. 100% of your credit is with you to use at all times.

Retailers hate it because they can't track purchases.

 

[Commodus]

Retailers hate it because they can't track purchases.

It's probably more accurate to say that they're split. Some retailers see NFC as a way to encourage shopping for big-ticket items; the stores behind the CurrentC group (and probably others) hate it for the reasons you've mentioned. I just suspect that fighting NFC amounts to standing on the wrong side of history. It'll take over -- it's just a question of how long these companies can hold out.

 

[deputc26]

Anyone have a good explanation of how Samsung pay can work without NFC? The S6 may be thin but you can't swipe it through a cc reader...

 

[zerogear]

Android Pay is a underlying API, Google Wallet will tie into it (so will other Apps)

 

[shabby]

Anyone have a good explanation of how Samsung pay can work without NFC? The S6 may be thin but you can't swipe it through a cc reader...

It simulates the magnetic field, basically tricking the card reader that you swiped your card.

 

[Dulanic]

Much more secure. That's why banks are willing to give a portion of their fees to Apple. Lowers their fraud risk.

 

[deputc26]

It simulates the magnetic field, basically tricking the card reader that you swiped your card.

So you just wave it over the terminal or hover it above or what? Are there any videos of this in action?

 

[antihelten]

So you just wave it over the terminal or hover it above or what? Are there any videos of this in action?

https://www.youtube.com/watch?v=J0xoANgarcE

 

[TuxDave]

I don't think I've seen one person use Apple Pay out in the wild yet.

Used it a whopping 3 times. Each time was pretty awesome though.

 

[Suspicious-Teach8788]

Has anyone compared Apple Pay and Google Wallet in depth? I noticed all the videos of Apple Pay tell you to just point the front of the phone to the terminal.

As a Google Wallet use RI'm used to the tap and pay motion, but it seems to actually fail with Apple Pay. The motion with Apple Pay seems to be more point at the NFC terminal like a remote control pointing at a TV.

I'm guessing they just put the NFC chip in a different spot in the iPhone compared to Android phones.

Anyhow, I've only used Apple pay maybe like 2-3 times and Wallet only a few times more.

It's honestly not THAT convenient IMO compared to just swiping a card.

Just comparing the two though, Apple Pay currently has the advantage in ease of use with the fingerprint reader and being able to be activated with the screen off. You can essentially hold your phone with your thumb on the reader and just point your phone to the NFC terminal. The screen will flip on, your fingerprint reads, and the payment goes through. One swift motion. On Android, you need to power up your screen, initiate the tap to pay motion, type in your PIN, tap again?

 

[rudeguy]

Has anyone compared Apple Pay and Google Wallet in depth? I noticed all the videos of Apple Pay tell you to just point the front of the phone to the terminal.

As a Google Wallet use RI'm used to the tap and pay motion, but it seems to actually fail with Apple Pay. The motion with Apple Pay seems to be more point at the NFC terminal like a remote control pointing at a TV.

I'm guessing they just put the NFC chip in a different spot in the iPhone compared to Android phones.

Anyhow, I've only used Apple pay maybe like 2-3 times and Wallet only a few times more.

It's honestly not THAT convenient IMO compared to just swiping a card.

Just comparing the two though, Apple Pay currently has the advantage in ease of use with the fingerprint reader and being able to be activated with the screen off. You can essentially hold your phone with your thumb on the reader and just point your phone to the NFC terminal. The screen will flip on, your fingerprint reads, and the payment goes through. One swift motion. On Android, you need to power up your screen, initiate the tap to pay motion, type in your PIN, tap again?

Maybe I should try Apple Pay. I've been looking for an excuse to grab a 6+. I'm also toying with the idea of looking into Apple Pay for our customers. That was the main thing that had me complaining about the security. There are so many different services involved that all I saw was risk. If that has been addressed, maybe its time to look into it.

The way you described Google Wallet was the exact experience I had. It was too many steps and took way too much time. But that was a while ago and I'm sure there has been changes. For instance this morning when I stopped at the gas station, my Speedy Rewards card popped up in my notification panel. That was kind of neat.

 

[TheStu]

I think once the Apple Watch hits that it will become MUCH easier since it has NFC integrated and can be used for Apple Pay. I agree that it's not much faster to pull out my phone and tap it vs pulling out my wallet (which is super simplistic, just a rubber band) and pulling out my card and swiping.

But, reaching out my arm and tapping/waving my wrist? SUPER EASY.

 

[ControlD]

Much more secure. That's why banks are willing to give a portion of their fees to Apple. Lowers their fraud risk.

Maybe it will be much more secure once the bugs are worked out. I'm not sure I'd be all that keen to be an early adopter however:

http://appleinsider.com/articles/15/03/02/banks-scrambling-to-combat-apple-pay-identity-fraud---report

I have seen exactly zero terminals where either Apple Pay or Google Wallet can be used in my area. I'm guessing that isn't going to change anytime soon. Sounds like something "big city folks" will get to enjoy for a few years before it makes it down to lower population areas.

 

[rudeguy]

Maybe it will be much more secure once the bugs are worked out. I'm not sure I'd be all that keen to be an early adopter however:

http://appleinsider.com/articles/15/03/02/banks-scrambling-to-combat-apple-pay-identity-fraud---report

I have seen exactly zero terminals where either Apple Pay or Google Wallet can be used in my area. I'm guessing that isn't going to change anytime soon. Sounds like something "big city folks" will get to enjoy for a few years before it makes it down to lower population areas.

Chances are you have seen the terminals and just didn't know it. 90% of the stores in my area have terminals that are capable of accepting NFC payments, no idea how many are set up to do so. On top of that, most terminals are easily enough to upgrade to take NFC. Its just a new PIN pad.

 

[dawheat]

I personally like paying with my phone but you do have a piece missing, at least with Apple and Google's NFC payment solution. The number they send over the system is not your CC number, in Google's case it is a generated MasterCard number which then links back to them to transfer the funds from your card, to the virtual number, and then it goes through the process. Apple generates a new "token" with each transaction that is effectively the same thing.

I'm not sure that's correct about Apple Pay. I thought they tokenize the card and store it locally, not that a new tokenized value is generated with each transaction.

 

[Dulanic]

Maybe it will be much more secure once the bugs are worked out. I'm not sure I'd be all that keen to be an early adopter however:

http://appleinsider.com/articles/15/03/02/banks-scrambling-to-combat-apple-pay-identity-fraud---report

I have seen exactly zero terminals where either Apple Pay or Google Wallet can be used in my area. I'm guessing that isn't going to change anytime soon. Sounds like something "big city folks" will get to enjoy for a few years before it makes it down to lower population areas.

Well they aren't labelled as Apple Pay or Google Wallet typically. If it just says accepts paypass then 90% of the time Google Wallet will work. Once exception is CVS and Rite Aid because they specifically block it.

For the fraud thing, that looks like a issue /w registering cards vs an issue /w fraud around the card #.

On a separate note... I don't know where Samsung is going with the using the mag stripe portion. That is working on being phased out already /w chip cards.