Monthly Archives: October 2014

How Apple Pay Doesn’t Help Personal Finance

Bruce Heen

Through the eyes of personal finance, Apple Pay is not as exciting as it was projected to be. Although boasting numerous pros, its plaguing cons have dubbed the program disappointing.

Apple had a wonderful opportunity to accomplish what Google failed with Google Wallet. It was widely anticipated, and nearly error-free as a mobile payment standard that is better than swiping a card. Apple Pay’s NFC token-based system which is based on a relatively new and important standard called, EMV Payment Tokenization, ensures that no party except your card issuer ever stores your personal card info. If Apple Pay becomes popular enough, it could mean that hackers would have a much harder time accessing accounts and fraud could fall significantly.

Cards for Apple Pay and transactions made with Apple Pay appear in iOS’s Passbook app, which could be transformed from tickets and coupons aggregator to the nexus of many iPhone users’ financial lives. A step in the right direction, it makes it far easier for us to check in on our accounts wherever we are and help us gain an often elusive sense of control over our money.

However, this is where the pros end. Apple Pay only shows you in passbook the most recent purchases you have made on its own network. Because such a small amount of merchants have the capability for Apple Pay, most of the spending will not come up on Passbook which was never designed as a personal finance account aggregator.

Apple Pay launches for in-app payments, we may finally see micro-payments take off. That will make the challenge of tracking your spending from multiple sources even more acute. Aside from the great security potential of the Apple Pay, is it worth it? It looks like a revolutionary technological security and environmental innovation that has the potential, but needs more work.

For more information, check out the full article here.

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Posted by on October 28, 2014 in Bruce Heen


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NY Rangers Come Back to Win Against NJ Devils

Bruce Heen

Although still early in the season, every win, especially Tuesday night’s 4-3 overtime comeback victory over the Devils, is something to cheer about for the rangers.

“It’s important for everybody to believe that no matter what, we have an opportunity to get back in a game,” captain Ryan McDonagh (two assists) said. “And the strength of our team is doing it in fives. We’re not depending on one guy to try to create on his own. I like that guys are continuing to play with confidence even if we’re down now.”

The obvious hero of the game was Kevin Klein as he shot a game-winner at the 2:42 mark of the extra period. The Rangers have won three straight after falling three in a row but they’ve done so as a unit. Four different blueshirts scored on Tuesday at the Rock including Chris Kreider, Chris Mueller, Rick Nash and Klein.

“That was a little redemption for that one that went off my butt in the second period,” Klein said, wearing the ceremonial Broadway Hat.

The first five goals of the game were all scored on power plays, Derick Brassard’s line with Mats Zuccarello and Martin St. Louis resulted in the only consistent even-strength pressure, but when the Rangers finally broke through at 5-on-5, it was Nash scoring his NHL-leading eighth goal of the season off a rebound from rookie Kevin Hayes.

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Posted by on October 28, 2014 in Bruce Heen


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