Kate Spade, Fossil, and Michael Kors announced new smartwatches at CES, including new models with NFC, GPS, and heart rate monitoring.
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Vineet Anand's comment,
March 19, 2015 9:38 AM
My Comments: Blame game begins... someone told Times that Apple does not push more detailed information!
Take a step back, Card Member (number/PAN) verification, authentically and registration is a issuer process NOT Apple Pay. If they want more information, Apple iTunes can likely transmit that information since all that data is stored. Issuers need to take responsibility for using Green Path or even an not-so-effective "Yellow Path". Issuers need to address the simple risk question "What is amiss in the process for registering a card, that will make them effective against such attacks?" And not all Issuers are impacted, some have been a lot more prudent... which brings me to reconsider banking or using services from such Issuers, that have weak Fraud and Risk management measures leading to 'authentication of fraudulent cards'! Issues understand that once registered the LIABILITY of the transaction is covered by Issuer... change the process now to make it more effective. |
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Kate Spade and Michael Kors are feeling the pinch from Apple Watches that have GPS, HR monitors and payments! The new versions of watches will fend off against Apple watches with Google Pay as NFC payment option.
Curious to see how many Kate Spade and Micheal Kors customers have an Apple Phone.. it will create confusion for customer use watch to pay (with Google) or Apple iPhone?? Apple has 77% of the debit card trx in US market.