By: Dave Birch

Dave Birch — Wed, 03 Sep 2014 17:11:31 +0000

Yes it could work using EMV tokenisation

By: John van der Heyden

John van der Heyden — Wed, 03 Sep 2014 14:02:30 +0000

I agree that Apple could “unlock NFC” (figuratively too) with a simple yet reassuring “hold the home button” experience
I imagine that, next to this basic “card emulation” mode, they could also offer a richer version of mobile payments, combining cards and coupons / loyality / … over a proprietary extension of NFC and/or in combination with BLE
Compared to previous attemps at standards, they could boost theirs by supporting it nativly in any Apple device to Apple device transaction + offering it licence-free to POS manufacturers
What bothers me is, assuming that Apple securely provisions in my iPhone a copy of the card I’ve stored with them (in my iTunes account ), I can’t imagine they would re-use the iTunes payment model where I pay Apple (funding transaction), and they pay the merchant (minus their commission).
Could this be what they solved in their deal with VISA, MC and Amex ? That their secure copy is a valid alias of the bank card, capable of doing “cardholder present” transactions (without the issing bank having anything to say about it) ?
That would be “disruptive”
And I’m not sure how it can work, technically, over the existing card payment rails.
Unless they route the payments over the schemes’ own P2P rails (Visa Personal Payments, MasterCard MoneySend) and completely bypass banks (i.e. also skip the Acquiring).
That would be very “disruptive” (but I give it < 10% probability)
One week to wait. Then we'll see if / how they solved it.

Comments on: OK, OK, so the new iPhone will have NFC

By: Dave Birch

By: John van der Heyden