Well, I suppose if youâre a dedicated Swede, you could buy the stupid watch, extract the NFC tag, ask that âotherâ company - completely unrelated to Vivokey! - to turn it into an implant, and then resell the watch on Ebay as âlike new but the payment thing doesnât work for some reasonâ.
Supposedly the NFC tag in the watch wonât expire, so it would be worth implanting it.
Hope that doesnât completely derail launching the Apex line for the foreseeable future. Iâd still love to have an apex chip to use for properly securing my PC and passwords even if it canât do payments.
At the end of the day @amal, I hope you can accomplish your goals in one form or the other. Good for you though for always moving forwards, and trying to work through the problems.
Mastercard has the system to communicate financial data.
The banks maintain the accounts and act as gatekeepers.
Sounds like internet / ISP relationship.
Dupont got hauled to court years ago for refusing to sell teflon to engine additive companies. Despite being able to prove that teflon was hurting motors they lost. The principle being that a company cannot refuse one B2B transaction but allow another. Everybody gets teflon, or nobody does.
If the banks wonât play nice, could you start your own credit union? If you had a full fledged legally chartered bank, wouldnât they have to give you the same access to their network?
Thatâs about the extent of my Matlock âmade for T.V.â honorary law degree.
As far as I understand it, even if he did start his own credit union EMV still have the power to say âcards good, wearables maybe-good, implants noâ. Kinda like a company/brand protecting its IP and how it is used and represented. And I guess by pushing it further, they could very well tell VK that they wonât deal with them whatsoever.
itâs so much more complex than that haha and awww
banks, payment schemes (networks), processors, terminal makers, payment gateways, etc. ⊠they all have a hand in it and can all basically say no, but there are different consequences for getting a ânoâ from different players. Basically if a bank says no, you move on. This is why some banks are on apple pay and others are not. The same would apply for us. Banks that are interested in allowing their customers to pay with VivoKey would connect with us via Fidemso and you could attach your account to your VivoKey. However, if MasterCard says no, then any and all banks who are âmastercard shopsâ canât connect to VivoKey even if they want to⊠and typically banks are either a MC shop or a Visa shop⊠so we are hoping to approach Visa late this year or early next year once the plumbing is in place to support connecting with Visa.
Otherwise, our options are to try to work with processors and terminal makers directly⊠an arduous task at best⊠impossible at worst⊠but weâre looking into it.
Yep. Visa and Mastercard are one of those evil monopolies that silently hold the entire world by the balls. Just look at what happens when they donât like someone: they can simply decide to cut them out of the electronic payment loop and thereâs basically no recourse. Rothschild was right all along
Amazing that such companies are allowed to hold so much power. Iâm still wondering when a judge is gonna pull a Sherman on those guys - and a few others, like Google. Iâm guessing theyâve grown so big and powerful theyâre essentially unstoppable.
Google is honestly really well structured to dodge anti-trust lawsuits, the guys at Alphabet absolutely knew what they were doing when they âsplit Google upâ into âdistinctâ work units.
Amazon is the one Iâd bet money on getting slapped around with anti-trust lawsuits first.