"Apple Pay"

[polynesia]

I guess you need to have money on your apple pay account or to have it connected with credit card and bitcoin comes in as a means of adding funds into apple pay account.

You don't actually have a "balance" on your apple pay account. When you use apple pay you are essentially doing the same thing as swiping your credit card, except it is somewhat more secure as your card number is encrypted the entire time from your phone until it reaches visa

You are actually paying apple to swipe your credit card.
Apple levies transaction fees on top of the charges levied by the credit companies.

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[pcshared]

This form of encryption is unrelated to Btc

[marryXmas]

I guess you need to have money on your apple pay account or to have it connected with credit card and bitcoin comes in as a means of adding funds into apple pay account.

You don't actually have a "balance" on your apple pay account. When you use apple pay you are essentially doing the same thing as swiping your credit card, except it is somewhat more secure as your card number is encrypted the entire time from your phone until it reaches visa

You are actually paying apple to swipe your credit card.
Apple levies transaction fees on top of the charges levied by the credit companies.

I believe the "TX fee" is actually charged to the company that processes the transaction and sends it to Visa/MC. This fee is likely going to be passed on to merchants (and to consumers) in the long run; although the lower potential for fraud will probably offset this added fee somewhat

[elgimpo]

I suppose the competition on cc is a good thing. But I am still a bit 'meh' about the whole thing.

[calchuchesta]

I suppose the competition on cc is a good thing. But I am still a bit 'meh' about the whole thing.

I see Apple Pay being a success becuase its based on normal money after all, and has the whole Apple trademark propaganda thing which is insanely popular, while Bitcoin keeps stagnating because it fails to deliver itself as useful and worth the time for the average Joe. Hope im wrong tho.

[virtfund]

I, certainly, see Apple Pay as a threat to cryptocurrencies being used for in-person transactions. This will do nothing to effect their attractiveness for online payment and low-fee money transfers though.

[AtheistAKASaneBrain]

I, certainly, see Apple Pay as a threat to cryptocurrencies being used for in-person transactions. This will do nothing to effect their attractiveness for online payment and low-fee money transfers though.

It is a treat as long as the common folk dont see a real usage for BTC. Beyond the use of microtransactions and international payments.. the common folk don't really need BTC right now, so they might as well stick to FIAT+Apple Pay.

[vipgelsi]

I see Apple pay as a non event. Who cares maybe im bias since i have a diffrent phone then an Apple.

[qm7]

Apple Pay is just another copied idea by Apple that will inevitably become popular due to the popular appeal of the Apple brand name. 

[Traffic4u]

I, certainly, see Apple Pay as a threat to cryptocurrencies being used for in-person transactions. This will do nothing to effect their attractiveness for online payment and low-fee money transfers though.

There are still very high costs associated with paying via credit cards (which is how you transact with apple pay) therefore consumers will need to pay higher prices as a result of using apple pay.

The only real advantage to using apple pay over using a credit card by swiping the card is the fact that your chances of having your card number stolen is reduced, however this is really nothing more then an inconvenience as most credit card companies will not hold you liable for anything in the event of credit card fraud on your account

[cinder]

I, certainly, see Apple Pay as a threat to cryptocurrencies being used for in-person transactions. This will do nothing to effect their attractiveness for online payment and low-fee money transfers though.

There are still very high costs associated with paying via credit cards (which is how you transact with apple pay) therefore consumers will need to pay higher prices as a result of using apple pay.

The only real advantage to using apple pay over using a credit card by swiping the card is the fact that your chances of having your card number stolen is reduced, however this is really nothing more then an inconvenience as most credit card companies will not hold you liable for anything in the event of credit card fraud on your account

Just transferring the security problem elsewhere.

What about the loss and theft of the apple device then? Will the owner be liable for all the payment made after loss?

[fewcoins]

I, certainly, see Apple Pay as a threat to cryptocurrencies being used for in-person transactions. This will do nothing to effect their attractiveness for online payment and low-fee money transfers though.

It is a treat as long as the common folk dont see a real usage for BTC. Beyond the use of microtransactions and international payments.. the common folk don't really need BTC right now, so they might as well stick to FIAT+Apple Pay.

Exactly why this and other new technology coming out will destroy bitcoin

[money420weed]

I, certainly, see Apple Pay as a threat to cryptocurrencies being used for in-person transactions. This will do nothing to effect their attractiveness for online payment and low-fee money transfers though.

There are still very high costs associated with paying via credit cards (which is how you transact with apple pay) therefore consumers will need to pay higher prices as a result of using apple pay.

The only real advantage to using apple pay over using a credit card by swiping the card is the fact that your chances of having your card number stolen is reduced, however this is really nothing more then an inconvenience as most credit card companies will not hold you liable for anything in the event of credit card fraud on your account

Just transferring the security problem elsewhere.

What about the loss and theft of the apple device then? Will the owner be liable for all the payment made after loss?

No, if the credit card holder does not authorize a transaction then they are not liable for it. I am not sure exactly how apple pay will work once it is released, however I do know that in order to buy an app or a song from iTunes with the iPhone 6, you need to either enter your iTunes password or use your fingerprint to authorize the transaction, so I would assume that a similar safeguard would be put in place

[leezay]

Bank of America is implementing Apple Pay into their system.

Bad news for paypal and btc.

[redHeadBlunder]

Bank of America is implementing Apple Pay into their system.

Bad news for paypal and btc.

Several major banks are supporting apple pay, announced as much the day after apple announced the new iPhone. They are also advertising as much very heavily.

I don't think apple pay will have a huge negative effect on bitcoin as it will have the same costs that traditional credit cards have.

[GenieBTC]

I havent used this one yet and I havent read any complaints about this either.

[nextblast]

Did anyone know exactly how did the double spend occured in Apple Pay system.   

[opossum]

Did anyone know exactly how did the double spend occured in Apple Pay system.   

It is not really a double spend in the same way that double spends occur in bitcoin terminology.

The risk to merchants accepting credit cards (including apple pay) is that the buyer later disputes the transaction with their credit card company and such disputes have a very low threshold for the consumer to "win" so if the merchant wants to get their money they will need to sue the consumer to recover their lost revenue, which is something that is not efficient and very time consuming

[calchuchesta]

The technology has been there for a while. I've been using it with my Mastercard for years. Most of the stores supported at launch have even had it for years. Sure, apple adopting NFC payments will help the tech, but it's success isn't their victory alone. If anything they are somewhat late to the mobile payments party.

[bernard75]

The technology has been there for a while. I've been using it with my Mastercard for years. Most of the stores supported at launch have even had it for years. Sure, apple adopting NFC payments will help the tech, but it's success isn't their victory alone. If anything they are somewhat late to the mobile payments party.

NFC has been around for years and failed, i doubt AP is going to change anything.