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Ipay on Iphone

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Anonymous
Not applicable

Ipay on Iphone

Do any of y'all use Ipay?  If so how do you like it?

Message 1 of 10
9 REPLIES 9
FinStar
Moderator Emeritus

Re: Ipay on Iphone

You mean "Apple Pay"??

Message 2 of 10
Anonymous
Not applicable

Re: Ipay on Iphone

Not sure.  The video I watched joker had all his card info on Iphone, and used his fingerprint to access.  The transaction is wireless, and vibrates when the deal is done.  I was just wondering how it worked in the real world.

Message 3 of 10
NRB525
Super Contributor

Re: Ipay on Iphone

I've used it a few times, it's a neat trick for the card access. There are only a few merchants in this area which have Apple Pay.

 

It registers the card it wants to use (you can set up which card is preferred in the iPhone settings) and does it very fast. So you have to watch the screen, if your thumb is on the TouchID it instantly approves the purchase. There is the ability to sort through the 8 CC you can have in the phone to pick one for this transaction, don't touch the Touch ID however or it's too late, it will already have used the default card.

At a local drugstore chain, I still had to sign the electronic receipt, even though authorized by Apple Pay.

 

Also, the card token number that is generated out of your iPhone, the bank can recognize it, but if you look closely at AMEX purchase offers, where they offer a specific dollar amount back from certain merchants for one-time purchases, they say that if you use a mobile wallet, those charges may not match up to the AMEX card that is registered for the offer. I take that to mean Apple Pay may not match those up, though I haven't confirmed either way.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 4 of 10
Anonymous
Not applicable

Re: Ipay on Iphone


@NRB525 wrote:

I've used it a few times, it's a neat trick for the card access. There are only a few merchants in this area which have Apple Pay.

 

It registers the card it wants to use (you can set up which card is preferred in the iPhone settings) and does it very fast. So you have to watch the screen, if your thumb is on the TouchID it instantly approves the purchase. There is the ability to sort through the 8 CC you can have in the phone to pick one for this transaction, don't touch the Touch ID however or it's too late, it will already have used the default card.

At a local drugstore chain, I still had to sign the electronic receipt, even though authorized by Apple Pay.

 

Also, the card token number that is generated out of your iPhone, the bank can recognize it, but if you look closely at AMEX purchase offers, where they offer a specific dollar amount back from certain merchants for one-time purchases, they say that if you use a mobile wallet, those charges may not match up to the AMEX card that is registered for the offer. I take that to mean Apple Pay may not match those up, though I haven't confirmed either way.


Reckon its useful or gimmicky??

Message 5 of 10
NRB525
Super Contributor

Re: Ipay on Iphone


@Anonymous wrote:

@NRB525 wrote:

I've used it a few times, it's a neat trick for the card access. There are only a few merchants in this area which have Apple Pay.

 

It registers the card it wants to use (you can set up which card is preferred in the iPhone settings) and does it very fast. So you have to watch the screen, if your thumb is on the TouchID it instantly approves the purchase. There is the ability to sort through the 8 CC you can have in the phone to pick one for this transaction, don't touch the Touch ID however or it's too late, it will already have used the default card.

At a local drugstore chain, I still had to sign the electronic receipt, even though authorized by Apple Pay.

 

Also, the card token number that is generated out of your iPhone, the bank can recognize it, but if you look closely at AMEX purchase offers, where they offer a specific dollar amount back from certain merchants for one-time purchases, they say that if you use a mobile wallet, those charges may not match up to the AMEX card that is registered for the offer. I take that to mean Apple Pay may not match those up, though I haven't confirmed either way.


Reckon its useful or gimmicky??


I like it a lot. It was one of the reasons I upgraded early to the 6 from the 5S. Eventually it will be more widespread and more useful, so I think it is a solid technology that just needs more merchant participation.

 

With some of these technologies, you see a buggy Version 1-dot-Uh-Oh. Apple Pay is solid now.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 6 of 10
kdm31091
Super Contributor

Re: Ipay on Iphone

Apple Pay seems neat, but it also seems like a fix to something that isn't ostensibly broken. All cards in the US have to have a chip by late 2015, I believe. This will mitigate some of the security issues of the physical cards.

 

The bottom line is, I feel like anytime you are paying with a card, whether phyiscally or over Apple Pay, you are still sending the data somewhere. Apple can go on and on about how it's encrypted and coded differently, but it's up to you to decide how much of it you believe. Apple is going to store some amount of your information for marketing, no matter what they tell you. There has to be a benefit for them.

 

I don't really see the big difference in convieneice between taking out your phone and opening an app vs just sliding your cards. It's not like it's hard to just slide a card. And I'd miss having the cards in my wallet!!

 

Apple Pay's competitor, CurrentC, coming out in 2015, seems even worse. You have to sit there and scan a QR code and I believe the cashier then has to scan it. How the heck is that faster or easier than just sliding a card? People will be holding up lines fumbling around trying to take a picture, the scanner has to be working properly,  etc etc etc it just seems like a hassle.

Message 7 of 10
mongstradamus
Super Contributor

Re: Ipay on Iphone


@kdm31091 wrote:

Apple Pay seems neat, but it also seems like a fix to something that isn't ostensibly broken. All cards in the US have to have a chip by late 2015, I believe. This will mitigate some of the security issues of the physical cards.

 

The bottom line is, I feel like anytime you are paying with a card, whether phyiscally or over Apple Pay, you are still sending the data somewhere. Apple can go on and on about how it's encrypted and coded differently, but it's up to you to decide how much of it you believe. Apple is going to store some amount of your information for marketing, no matter what they tell you. There has to be a benefit for them.

 

I don't really see the big difference in convieneice between taking out your phone and opening an app vs just sliding your cards. It's not like it's hard to just slide a card. And I'd miss having the cards in my wallet!!

 

Apple Pay's competitor, CurrentC, coming out in 2015, seems even worse. You have to sit there and scan a QR code and I believe the cashier then has to scan it. How the heck is that faster or easier than just sliding a card? People will be holding up lines fumbling around trying to take a picture, the scanner has to be working properly,  etc etc etc it just seems like a hassle.


current C has direct access to your checking account that is probably worst part of all. If target, home depot hacks have taught me anything is not to trust retailers with my data, no way in hell i am giving them direct access to my checking account. 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 8 of 10
NRB525
Super Contributor

Re: Ipay on Iphone


@mongstradamus wrote:

@kdm31091 wrote:

Apple Pay seems neat, but it also seems like a fix to something that isn't ostensibly broken. All cards in the US have to have a chip by late 2015, I believe. This will mitigate some of the security issues of the physical cards.

 

The bottom line is, I feel like anytime you are paying with a card, whether phyiscally or over Apple Pay, you are still sending the data somewhere. Apple can go on and on about how it's encrypted and coded differently, but it's up to you to decide how much of it you believe. Apple is going to store some amount of your information for marketing, no matter what they tell you. There has to be a benefit for them.

 

I don't really see the big difference in convieneice between taking out your phone and opening an app vs just sliding your cards. It's not like it's hard to just slide a card. And I'd miss having the cards in my wallet!!

 

Apple Pay's competitor, CurrentC, coming out in 2015, seems even worse. You have to sit there and scan a QR code and I believe the cashier then has to scan it. How the heck is that faster or easier than just sliding a card? People will be holding up lines fumbling around trying to take a picture, the scanner has to be working properly,  etc etc etc it just seems like a hassle.


current C has direct access to your checking account that is probably worst part of all. If target, home depot hacks have taught me anything is not to trust retailers with my data, no way in hell i am giving them direct access to my checking account. 


And Apple Pay uses true tokenization. Apple does not get your purchasing information, it is in the phone and the data is only sent to the bank. They would get general volume information through the use of the network, but not any individual information.

 

CurrentC is doubly bad because it uses a cartel mentality: Merchants who have signed up for CurrentC are not allowed to use other mobile payment systems. I'm waiting for the legal suit that goes to the Supreme Court because of the restraint of trade aspect.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 9 of 10
bdhu2001
Valued Contributor

Re: Ipay on Iphone


@kdm31091 wrote:

Apple Pay seems neat, but it also seems like a fix to something that isn't ostensibly broken. All cards in the US have to have a chip by late 2015, I believe. This will mitigate some of the security issues of the physical cards.

 

The bottom line is, I feel like anytime you are paying with a card, whether phyiscally or over Apple Pay, you are still sending the data somewhere. Apple can go on and on about how it's encrypted and coded differently, but it's up to you to decide how much of it you believe. Apple is going to store some amount of your information for marketing, no matter what they tell you. There has to be a benefit for them.

 

I don't really see the big difference in convieneice between taking out your phone and opening an app vs just sliding your cards. It's not like it's hard to just slide a card. And I'd miss having the cards in my wallet!!

 

Apple Pay's competitor, CurrentC, coming out in 2015, seems even worse. You have to sit there and scan a QR code and I believe the cashier then has to scan it. How the heck is that faster or easier than just sliding a card? People will be holding up lines fumbling around trying to take a picture, the scanner has to be working properly,  etc etc etc it just seems like a hassle.


My understanding is that there is just as much fraud with chip, it's just a different way.  I'm hoping Apple Pay becomes more widespread. I like not carrying all my cards and just using the phone (less weight).  I'm also hoping that it will cut down on the possible Fraud. Only the future will tell.

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


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