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Apple Pay contract detailed, shows who’s boss

Apple Pay contract detailed, shows who’s boss

Apple Pay might be more convenient for consumers, but what’s Apple’s angle in the whole scheme? Why do they want to offer us the ability to use their mobile payment service? Aside from the small percentage we already knew Apple was skimming per transaction, we are now getting additional news about Apple’s gain with Pay. The percentage points Apple gets are just the tip of it all, and these details show just how structured the plan is, top to bottom.

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Could a thumb-scanning MasterCard sideline Apple Pay?

Could a thumb-scanning MasterCard sideline Apple Pay?

Apple Pay isn't the only next-gen payments system hoping to use your thumbprint to authorize spending, with MasterCard and Zwipe teaming up on a new credit or debit card that has an integrated fingerprint scanner for more security contactless payments. Set to launch in 2015, the Zwipe MasterCard looks at first glance like a regular slice of plastic as you probably already have in your wallet, but rather than demanding you punch in a PIN code or even do something so archaic as put your signature on a receipt, the system instead automatically scans your fingerprint and uses that to authenticate that the right person is making a purchase.

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MasterCard, Visa push for chip-based cards for added security

MasterCard, Visa push for chip-based cards for added security

While Target recovers from their shocking $40 million credit and debit card record theft from last year, Visa and MasterCard have joined forces to push for a new chip-enabled card that will improve security for all transactions. These two credit card brands have set a potential October 2015 deadline for all US retailers to adopt and setup the infrastructure for the new card system.

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