Apple Pay

SeduLOUs

Once the limit is lifted, would Apple as a third party break the Section 75 protection chain like paying with Paypal does?

Archi_Bald

Not according to MSE: http://www.moneysavingexpert.com/news/banking/2015/06/apple-pay-coming-to-uk-next-month-heres-how-it-will-work

Chino

NFH wrote: »

Existing contactless payments use only 1-factor (hence the £30 limit) and Chip & PIN uses 2-factor.

By your definition of "3-factor authentication", existing contactless payments use 2-factor:

1. Something you have (the card)
2. Something you know (the PAN and cryptogram)

shortcrust

I understand that with the watch all you'll have to do it double press the side button to pay. No fingerprint required.

stclair

SeduLOUs wrote: »

Once the limit is lifted, would Apple as a third party break the Section 75 protection chain like paying with Paypal does?

Visa cardholders making purchases using Apple Pay will be covered by all the same benefits they currently enjoy with their Visa debit and credit cards, including liability protection for unauthorised purchases and widespread international acceptance. -

See more at: http://www.visaeurope.com/newsroom/news/apple-pay-coming-to-millions-of-uk-visa-cardholders#sthash.tTj8CQbq.dpuf

NFH

SeduLOUs wrote: »

Once the limit is lifted, would Apple as a third party break the Section 75 protection chain like paying with Paypal does?

No, because none of the transaction money passes via Apple, even though Apple receives a very small commission. With PayPal, transaction money passes via PayPal, which breaks the debtor-creditor-supplier relationship.

knack92

shortcrust wrote: »

I understand that with the watch all you'll have to do it double press the side button to pay. No fingerprint required.

Correct. Instead of the fingerprint a passcode is required when you put the watch on. If it is removed from your wrist it will lock and request the passcode again.

SeduLOUs

It all sounds great in principle then, but until the contactless terminals become the norm I'm still going to have to carry my wallet around with me regardless. The supermarkets all seem hell bent against the idea for the time being.

I do welcome the idea that I might see the day I can go out shopping or for a meal armed with only my phone, and it's just another tempting reason for me to consider an iWatch in the future - I do like the watch but right now it's far too much money for too little convenience, so I'm nowhere near being able to justify it yet.

NFH

SeduLOUs wrote: »

The supermarkets all seem hell bent against the idea for the time being.

I wouldn't be so sure:

Daily Mail: Sainsbury's to extend trial that allows customers to pay using iPhones or rival handsets

As this is from the Daily Mail, do take it with a pinch of salt. Their reporting is notoriously inaccurate and sloppy.

SeduLOUs

I thought I'd read it in the MSE article but was mistaken and it was actually on a BBC news post, so who knows.

However Tesco said it had no plans to formally adopt the system, although the technology will work in some of its stores in London which already have contactless payment facilities in place.

Asda said it would not be taking part. Its parent company Walmart has not signed up to Apple Pay in the US.

Sainsbury's also said it had no plans to offer Apple Pay.

http://www.bbc.co.uk/news/business-33063748