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Apple Keynote today
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[quote][i]Originally posted by Dom[/i] [quote][i]Originally posted by Balling[/i] sh They said in the keynote that the cards aren't stored online, but locally on the device (besides the card on record with iTunes, obv.) to increase security. Apple aren't involved in the transaction either. It happens directly from the card/bank to the vendor. [/quote] In which case they're (Apple and card companies) sharing a hash of the card details, generated separately at either end, and using that for the transaction. If that's the case then the question becomes, how secure is the hashing algorithm? And how quickly can it be reversed engineered? And how are Apple making money off this? Transaction fee? :boggle: Rob - Surely the Apple Pay app must prompt you to which card you want to use? If so, that's adding another step or two to the process. And you're not getting away from the fact that you're a nice big target for getting your phone mugged every time you pull it out to pay for something. [/quote]
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