News for hackers. Stuff that matters.

A comment on Apple unveils contactless payments via Tap to Pay on iPhone. Parent comment

Re:Apple unveils contactless payments via Tap to Pay on iPhone by jacquesm on Tuesday February 08, 2022 @02:43PM (#30263503)
> It will be phased out though in 2023 to Mastercard debit and visa debit

That sounds like an absolutely terrible idea. Why would we give these two rotten-to-the-core companies such power over our payment systems?

[ Parent | on HN ]
Re:Apple unveils contactless payments via Tap to Pay on iPhone by L3viathan on Tuesday February 08, 2022 @03:48PM (#30264460)
I don't really understand your point, neither do I understand the change:

Maestro and V-PAY already _are_ owned by those two companies, and are debit cards. What changes with Mastercard/Visa debit?

[ Parent | on HN ]
Re:Apple unveils contactless payments via Tap to Pay on iPhone by jacquesm on Tuesday February 08, 2022 @03:54PM (#30264559)
That it erodes the position of EU banks in favor of Visa and Mastercard. I have no problem with them facilitating the tech, but I do have a problem with them usurping the position of the banks. The EU is already too dependent on the United States in this manner, no need to make it worse.
[ Parent | on HN ]
Re:Apple unveils contactless payments via Tap to Pay on iPhone by jurmous on Tuesday February 08, 2022 @02:57PM (#30263701)
It sounds it will work the same as maestro but be usable in places where you need credit card numbers. https://www.mastercard.com/news/europe/en/perspectives/en/20...
[ Parent | on HN ]