Mophie Enters iPhone Credit Card Transaction Arena
Looks like Mophie, makers of the Juice Pack Air, are going to be offering their own take on the iPhone credit card reader accessory, and software app. We should hear more at CES, but with rumors of Apple offering their EasyPay system beyond the Apple Retail Stores, and Twitter founder Jack Dorsey’s Square coming to market, next year could be big for mobile money-taking.
Hide your wallets now.
[via TechCrunch]
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COOL DUDE…..
But, what about all new chips card technology coming in? Very soon, magnetic strips on credit cards will completely disappears.
@niclet – doubtful on the “very soon” for the dissapearance of the magnetic strips… in fact doubtful it will happen anywhere in the near future… the new “wave” chips will probably always be just an alternative to the swiping of the card
@ nicelet
even if new credit card technology is in the works, it will not be a “STANDARD” across the board. It will be a slow implementation. Similar to these “pay pass” cards. That tech has been around for years. And only now is my jpmorgan chase card using it. I will also make the argument that it doesn’t save any time at all vs. Swiping. As most of the time the payee has to SETUP the register and you here them say… “oh, sorry. Try that again. Register wasn’t ready.” it all gimick. And don’t think it will be “very soon”.
Agreed – seems like the chip solution is just a gimick. No real benefit from my perspective.
i don’t like that imagine a hacker using that to get credit card information.
I hope they fixed the signal problem they had with juice pack air it was no good
@Niclet: Those new payment methods will never replace magnetic strips until it becomes commonplace. Not only with merchants, but consumers as a preferred payment method. Think about this. Do you actually envision all of the merchants out there to rush out and replace their working systems? The millions of mom and mom shops aren’t just going to rush out and spend their trickling money on new hardware when everyone uses magnetic cards. And are you going to rush out and get these new fangled payment methods if it’s a rarity you will use it because of little acceptance by merchants? This is something that would happen VERY slowly.
We have been trying to replace coins and paper cash for decades. It’s the dame thing. Lots of people use magnetic cards, but it is nowhere near able to replace cash.
Chip and pin use is pretty much standard now in UK so I don’t see much use of this here in uk.
The point of a ICC (Chip) transaction is that issuers can allow a low, predetermined offline sale amount to be allowed. I.E. $100 without having to sign on to the association network. Saves on costs.
Oh and just an edit of my previous post: EMV chip transactions are pretty damn near completely secure from a hacking standpoint. Terminal and gateway need to be in sync with some sort of HSM or encryption method, on top of a PIN being required.
@ Christopher Cox
the chip technology has more or less replaced magnetic strips here in uk so I dont know what on earth your talking about. And no it’s not the same damn thing as trying to replace coins an paper, far from it mate.
I think the next techology will be putting chips inside peoples hands or having their information in their cell phone, which they already have in Japan.
Hey uk users. Good for you. But that doesn’t make it a “real soon” standard. it always takes a while to travel across that Atlantic pond. It’s still years away in the US. Call us slow. Call it different priorities but if Americans don’t see it as a convenience that doesn’t cost them additional time and money it will be slow to adopt, if ever. Smart chips were being issued a little while back and people were sending the cards back for the regular magnetic strip cards. Also those devices that plugged in to you USB ports as smart chip readers, those sure caught on, let me tell ya!! (sarcasm)