PayPal takes a swipe at Apple Pay security over iCloud celebrity photo leaks

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PayPal appears to be calling out Apple and its newly announced mobile payment service Apple Pay with an ad appearing in The New York Times print edition (via Pando Daily) indirectly reminding people of last month’s disastrous iCloud photo leak when a list of celebrities found their personal photos an intimate situations published on the web. The ad reads “We the people want our money safer than our selfies,” but PayPal isn’t without its own security issue in the past.

Apple already has over 500 million iTunes account with most having credit cards, the company says, and iCloud features like iCloud Keychain manage and utilize credit card data for auto-completing credit card information. Read more

Apple joins secure chip standards and NFC group GlobalPlatform ahead of Apple Pay release

Apple Pay

Ahead of Apple’s entry into the mobile payment space next month with the release of Apple Pay for iPhone 6 and iPhone 6 Plus users, Apple has joined the GlobalPlatform, the non-profit association focused on standards for secure chip technology across various industries, as a full member.

Existing members of GlobalPlatform include various Apple partners and competitors alike with carriers AT&T, Sprint, and Verizon being members as well as handset makers Samsung and BlackBerry. More importantly, Apple Pay partners American Express, MasterCard, and Visa are also members; Discover, which is not yet an Apple Pay partner but has said it is discussions over participation with Apple, is also a member. Read more

Apple Pay may mean the end of physical bank cards within 2-3 years, argues Moven CEO

apple-pay copy

While we’d all expected plastic bank cards to be replaced by apps eventually, the CEO of mobile banking startup Moven is suggesting that Apple’s backing could mean the end of physical bank cards within 2-3 years.

The additional sweetners here are three fold. Firstly, tokenization will avoid much of the type of breaches we’ve seen at Target and Home Depot because the token is only a one-time use thing. Secondly, the move to tokens and the combination of biometrics, etc allow for the emergence of a ‘cardholder present’ approach to interchange rates that will potentially give mobile payments a competitive merchant rate. Lastly, the US might effectively jump straight from magstripe to mobile, especially if issuers can figure out how to reduce the cost of card replacement by moving straight to mobile SE and tokens …

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Part one of Charlie Rose’s full interview with Tim Cook now available online

tim cook death stare

The first half of the Tim Cook interview with Charlie Rose is now available to watch — in full — on the CharlieRose.com website. Cook discusses the thinking behind the Watch, purchasing Beats, partnering with IBM, how he and Steve Jobs discussed Cook becoming CEO and much more. Bitesize highlights were posted a few days ago. The video is embedded below, although may not be available to view in all countries.

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Most analysts satisfied with Apple’s announcements, think AAPL stock will climb

Tim Cook

Big-name analysts seemed satisfied with what they saw and heard during Apple’s launch of the iPhone 6, Apple Watch and Apple Pay, reports Forbes. Summarising investor notes from a dozen major companies, Chuck Jones found the general feeling was that Apple had delivered what was expected.

The overall average of AAPL stock price targets was $109, against the current price of just over $100. Analysts pointed to a range of factors in forming their views, among them …  Read more

Apple Watch uses constant skin contact to validate Apple Pay purchases

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A couple of reports yesterday and today have highlighted a little tidbit of information many have been wondering about the upcoming Apple Watch: How will the device make sure payments via Apple Pay are secure? Both the iPhone 6 and iPhone 6 Plus have the convenient Touch ID sensor to validate that your purchases are indeed being done by you, but new information suggests that the Apple Watch is going to accomplish this security in a slightly different way…

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Discover cards joining Amex, Mastercard and Visa in Apple Pay contactless payments

discover

Discover has tweeted that its cards will be joining Amex, Mastercard and Visa in the Apple Pay service, allowing electronic versions of its cards to be stored in Passbook for contactless payment using the iPhone 6 and Apple Watch.

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Apple demonstrates just how quick & easy Apple Pay is to use [Video]

After launching its new mobile wallet service Apple Pay during yesterday’s keynote, the company gave demos afterwards, TechCrunch sharing a video.

The card you have registered with your Apple ID becomes your default card, but you can add others by using the camera on the iPhone 6 to identify it. The iPhone requests permission from your bank, and the card is then added to Passbook …  Read more

Top Apple execs each awarded 35,000 shares, worth up to $19M at today’s price

apple

An SEC filing reveals that six of Apple’s top execs were each awarded 35,000 Restricted Stock Units (shares that cannot be immediately traded), with a current value of more than $19M. Of this, $12M is awarded outright, subject only to remaining with the company until at least April 2018, with a further $7M dependent on Apple’s stock performance.

The bonuses were awarded to Senior VPs Eddy Cue, Craig Federighi, Dan Riccio, Phil Schiller, Bruce Sewell and Jeffrey Williams. It’s likely that Jony Ive will receive the same, though his stock awards do not have to be reported to the SEC …  Read more

Four out of five highest-paid execs in the USA work at Apple

Senior VP of Technologies Bob Mansfield (Photo: Apple)

Senior VP of Technologies Bob Mansfield (Photo: Apple)

Bloomerg reports that four out of the five highest-rewarded execs in Standard & Poor’s top 500 companies are Apple execs. In all four cases, their base salaries are a relatively modest $805,400, with the balance paid in stock options.

The four Apple employees are Bob Mansfield, Senior VP of Technologies ($85.5m); Bruce Sewell, Apple’s lead lawyer ($69m); Jeffrey Williams, Senior VP of Operations ($68.7m); and Peter Oppenheimer, Chief Financial Officer ($68.6m) … Read more