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0 pointsneedusername8y ago0 comments

> It's a debit push payment

What does that mean?

> Everyone is issued a green dog virtual card

I assume that's just a VISA Debit or VPAY with a special BIN range. Is that correct? Does everybody in the world participating in Apple Pay get a US issued VISA Debit card?

> then the entire network works over debit

There is no difference at all between VISA credit and VISA debit apart from interchange and when how the issuer bills the card holder. The whole infrastructure is the same. I assume with "works over debit" you mean is VISA cleared, is that correct? Does that also mean that unloading happens with a CFT transactions? If so what does the following sentence in the article mean "Bank transfers will be handled separately."?

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SyneRyder8y ago

They're good questions, but I think they're answered by the point that Apple Pay Cash is US-only. The service is just Apple's abstraction of Green Dot [1] branded prepaid reloadable VISA cards. If it's US only, Apple doesn't need to worry about the international corner cases yet.

There's some more info at Recode [2]:

[1] https://www.greendot.com/

[2] https://www.recode.net/2017/6/5/15741636/apple-pay-p2p-venmo...

needusernameOP8y ago

> Apple Pay Cash is US-only

Thank you, I missed that point. I guess it's understandable given the environment but still I wish Apple would have gone for something more ambitious like the original Apple Pay.

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