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This is the outcome of Apple's 2020 acquisition of Mobeewave. https://www.pymnts.com/apple/2020/apple-buys-mobeewave-for-100m/ https://www.pymnts.com/apple/202

• pilsetnieks 5y ago
  > Apple already gets 15 bps for all Apple Pay transactions Bits per second? Beets per sale? Blackened pieces-of-eight per scurvy-rat?
  • thesimon 5y ago
    Basis points
  • atlbeer 5y ago
    Basis points
  • mlyle 5y ago
    Basis points-- hundredths of a percent. so 0.15%.
    • ghayes 5y ago
      I always remember "100 basis points = 1%". It's a little confusing since percentages are scalars, so really 1 bps is just the scalar 1/10000.
  • runeks 5y ago
    Beets per sale
    • mwint 5y ago
      Schrute Farms mode.
• exikyut 5y ago
  I was wondering how this was done. How on earth was what amounted to a userspace app able to talk to the NFC hardware to the extent necessary to process payments?! Presumably the app received the relevant entitlements to be able to do this...? How on earth was it done securely, within the Mobeewave app?
  • Rafert 5y ago
    The PCI Security Standards Council has been working on the Secure PIN on COTS (SPoC) standard for a few years: https://blog.pcisecuritystandards.org/new-pci-software-pin-entry-on-cots-standard https://blog.pcisecuritystandards.org/new-pci-software-pin-e...
  • kyawzazaw 5y ago
    Check this out as well from Visa. Disclaimer: I worked/work on this https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.18716.html https://usa.visa.com/about-visa/newsroom/press-releases.rele...
    • exikyut 5y ago
      Wow, that's really cool. > In January 2020, Visa first showcased the power of “Tap to Phone,” an industry-first solution that transforms current generation Android smartphones and tablets into contactless point of sale terminals. Tap to Phone was Visa’s first offering that let sellers accept payments on the devices they already own, just by downloading an app. As of December 2021, there were more than 300,000 devices across 54 countries using Tap to Phone. I'm curious how the overall transaction/security flow works, broadly speaking. It sounds to me like you managed to figure out a solution that satisfies the security posture of the ordinary app sandbox (ie without requiring any entitlements on iOS, or priv-app partnerships on Android). That's kind of incredible IMO. Are you using the Secure Enclave on iOS, and if you are, what are you actually storing in there? I'm curious if Android gets to play too given that it doesn't have the same sort of security guarantees, and if so, how. I also get the impression the actual validation/verification (including steps that I would assume would typically happen on a payment terminal) has been moved to the cloud somehow. I'm very curious how that works too. Presumably you would've also needed to design something capable of withstanding absolute worst-case scenarios like memory inspection on a rooted phone, or NFC sniffing/proxying/emulation. Maybe you're just sending all the card data straight back to the cloud? That would pretty much solve everything :) Also... while engineers are always going to gravitate towards balanced analyses of benefits and tradeoffs, the questions above are not coming from that perspective :) I'm very happy to hear whatever you can share about the security of the platform. (I'm just a random consumer who occasionally boggles at JavaCard when I pay for stuff lol)
• msoad 5y ago
  Not all iOS devices have NFC. This is an iPhone-only feature
  • dzhiurgis 5y ago
    MacBooks strangely doesn't have NFC - IMO it's ultimate solution for U2F.
    • aryamaan 5y ago
      I would love to pay websites by tapping my phone to my laptop.
      • ihuman 5y ago
        Apple Wallet is already in macOS, but Apple Pay is only in Safari
        • alwillis 5y ago
          There's no wallet on macOS; Safari does enable you to use Apple Pay on your Apple Watch or iPhone to pay for things on websites.
          • ihuman 5y ago
            Yes, there is a wallet on macOS. If your macbook or keyboard has Touch ID, then you don't need your phone/watch to confirm that you are you. https://support.apple.com/guide/mac-help/use-wallet-apple-pay-on-mac-mchl4773988b/mac https://support.apple.com/guide/mac-help/use-wallet-apple-pa...
          • mariojv 5y ago
            I use Wallet on macOS all the time with the built in Touch ID reader. I was actually surprised how many online stores accept Apple Pay via Safari. Even a local chain that delivers tacos takes it!
          • 5y ago
• judge2020 5y ago
  > I'm curious to hear the additional monetization Apple plans to get for this. I don't think there will be any extra monetization - this is presumably just an API in a future iOS 15.x that can be enabled via entitlements Apple assigns, so unless Stripe says "extra 0.3% fee for iPhone PoS payments" they likely won't make any money from it. Think of it as a funnel for getting the last 20% of businesses to accept Apple Pay.
  • tiffanyh 5y ago
    > "getting ... businesses to accept Apple Pay" This isn't just Apple Pay. You can tap your plastic credit card to pay using this. This is all contactless transactions, not just Apple Pay.
• kingcharles 5y ago
  They at least move some small retail owners from Android to iPhone, so they'll sell some iPhones.
• KoftaBob 5y ago
  If "bps" is supposed to stand for basis points, then you're saying they get a 0.15% cut?
  • tiffanyh 5y ago
    Correct. https://www.pymnts.com/in-depth/2015/apple-pays-business-model-blues/ https://www.pymnts.com/in-depth/2015/apple-pays-business-mod...
• deleted 5y ago
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