PeteMorris Posted December 1, 2015 Author Share Posted December 1, 2015 ....Ummm...Any chance of a list of acronyms? Link to comment Share on other sites More sharing options...
L00b Posted December 1, 2015 Share Posted December 1, 2015 PoS: Point of Sale (-terminal, i.e. till, payment card device, etc) NFC: Near Field Communication (wireless, very short range) QR code: Quick Response Code, this is a QR code. Any others Google can't seem to find for you? Link to comment Share on other sites More sharing options...
JFKvsNixon Posted December 1, 2015 Share Posted December 1, 2015 Yes, I can see the shop itself getting the information...and the card provider, and the bank...But surely it's what they do with that information that counts. Will Apple be using it for 'helpful' targeted advertising? My bank doesn't, and neither does my card provider, or for that matter do the shops I spend my money in. What makes you think that Apple will behave any worse than Visa, your bank or the shop? Link to comment Share on other sites More sharing options...
PeteMorris Posted December 1, 2015 Author Share Posted December 1, 2015 What makes you think that Apple will behave any worse than Visa, your bank or the shop? Because Amazon do... Link to comment Share on other sites More sharing options...
Cyclone Posted December 1, 2015 Share Posted December 1, 2015 If the transaction is above the floor limit then you will need a connection to the banking system. That's provided by the PoS terminal though, regardless of if it's a chip, contactless or NFC. The real beauty of NFC is the increased processing power and much increased security that gives you hence the floor limit can be raised. No, the reason the maximum transaction value can be increased is that a phone has additional security when compared to a card. The phone will require authentication (ie unlocking) to allow a high value transaction, a card simply can't offer that facility (you revert to regular chip and pin). The phone doesn't need a network connection, the POS generally does as you say for anything above a vendor configured limit, below which they take the risk of an offline approval. ---------- Post added 01-12-2015 at 12:12 ---------- Apple wants data, Apple Pay is a brilliant way of linking people to spending patterns. Brilliant data for any big-data company (which is what Apple is in essence). I'd be quite surprised if apple can gather any data from the use of apple pay. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted December 1, 2015 Share Posted December 1, 2015 Because Amazon do... They're completely separate companies!!!!!! What is it that Amazon does with your data that's so bad? Link to comment Share on other sites More sharing options...
PeteMorris Posted December 1, 2015 Author Share Posted December 1, 2015 PoS: Point of Sale (-terminal, i.e. till, payment card device, etc) NFC: Near Field Communication (wireless, very short range) QR code: Quick Response Code, this is a QR code. Any others Google can't seem to find for you? Thanks L00b..Much appreciated.....I know it's your favourite form of writing (in acronyms). Yes I know others in this instance have used them...I just prefer to write the words (mostly)...It's not like we're on twitter and have to fit any comment to 140 words.... Link to comment Share on other sites More sharing options...
Cyclone Posted December 1, 2015 Share Posted December 1, 2015 So what's in it for the banks?...Purely that people spend money? The banks don't care. They really don't. By the time a transaction reaches them, it's irrelevant what the processing mechanism was. The only involvement they have is with the body that sets the security standards. Link to comment Share on other sites More sharing options...
PeteMorris Posted December 1, 2015 Author Share Posted December 1, 2015 They're completely separate companies!!!!!! What is it that Amazon does with your data that's so bad? Yes I know they're totally separate companies. I've bought several things from Amazon very recently, and it really irritates me that I now get emails and advertising from them (most annoyingly) for the very thing I've just bought..and or other helpful suggestions based on that item. It's just irritating. ---------- Post added 01-12-2015 at 12:19 ---------- The banks don't care. They really don't. By the time a transaction reaches them, it's irrelevant what the processing mechanism was. The only involvement they have is with the body that sets the security standards. So theoretically it could be anyone they promote?...I makes no odds to them at all? Link to comment Share on other sites More sharing options...
L00b Posted December 1, 2015 Share Posted December 1, 2015 Thanks L00b..Much appreciated.....I know it's your favourite form of writing (in acronyms). Yes I know others in this instance have used them...I just prefer to write the words (mostly)...It's not like we're on twitter and have to fit any comment to 140 words....It's not usually, but this is a field in which I have a fair bit of experience (at the design and implementation level) so it kind of comes naturally. The only involvement they have is with the body that sets the security standards.Banks don't have that much of a say in card payment security and standards, card schemes do most of the heavy lifting in that department. Banks just implement according to the card scheme rules (namely, they buy-in from specialist tech solution providers). Link to comment Share on other sites More sharing options...
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