A closer look at Apple Pay
During the Apple event held last September 9, 2014, Apple also introduced another of its newest innovations, and that is Apple Pay.
Apple Pay lets you pay for your purchases, either in a physical store or in an online transaction, by simply using your Apple Touch ID. It surely is a safe and easy way to shop without bringing various cards with you, as you can connect your bank accounts or credit cards with your Touch ID.
Quoted from Apple Pay’s official webpage, “Apple Pay will change how you pay with breakthrough contactless payment technology and unique security features built right into the devices you have with you every day. So you can use your iPhone 6 or Apple Watch to pay in an easy, secure, and private way.”
There is also no need for you to wake up your iPhone if you wish to use Apple Pay, a convenience made possible by the Near Field Communication antenna (NFC) that’s integrated into the iPhone 6, plus the Touch ID that is available in the iOS 8. “To pay, just hold your iPhone near the contactless reader with your finger on Touch ID. You don’t even have to look at the screen to know your payment information was successfully sent. A subtle vibration and beep lets you know.”
According to the Apple Pay webpage, “just double-click the button below the Digital Crown and hold the face of your Apple Watch near the contactless reader. A gentle pulse and beep confirm that your payment information was sent.”
And for the apps, you just have to check out by selecting the “Apple Pay” option then placing your finger on the Touch ID. With just a single touch, your app purchase is done in no time.
I know most of you will be asking things like, “Is that really a secured way of doing a payment?”
Yes, Apple assures each and every one of iPhone user that Apple Pay is a completely secure way of payment, aside from it being an easy one.
“Every time you hand over your credit or debit card to pay, your card number and identity are visible. With Apple Pay, instead of using your actual credit and debit card numbers when you add your card, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element, a dedicated chip in iPhone and Apple Watch. These numbers are never stored on Apple servers. And when you make a purchase, the Device Account Number alongside a transaction-specific dynamic security code is used to process your payment. So your actual credit or debit card numbers are never shared with merchants or transmitted with payment.”
If you lose your device, you must immediately access your Find my iPhone app and turn on the Lost Mode feature. This ensures that your bank accounts cannot be accessed by unauthorized parties. Just imagine your bank accounts being frozen for security.
Another concern which I know will pop up in your mind is privacy. Is the privacy of the user compromised in Apple Pay?
Apple says, “Apple doesn’t save your transaction information. With Apple Pay, your payments are private. Apple doesn’t store the details of your transactions so they can’t be tied back to you. Your most recent purchases are kept in Passbook for your convenience, but that’s as far as it goes. Since you don’t have to show your credit or debit card, you never reveal your name, card number or security code to the cashier when you pay in store. This additional layer of privacy helps ensure that your information stays where it belongs. With you.”
For setting up Apple Pay in your device, here is a quick and simple instruction from Apple:
“Passbook already stores your boarding passes, tickets, coupons, and more. Now it can store your credit and debit cards, too. To get started, you can add the credit or debit card from your iTunes account to Passbook by simply entering the card security code.
To add a new card on iPhone, use your iSight camera to instantly capture your card information. Or simply type it in manually. The first card you add automatically becomes your default payment card, but you can go to Passbook any time to pay with a different card or select a new default in Settings.”
For the actual demo, click this link.
Apple Pay will be readily available this October, along with Touch ID. Also, major credit cards such as Visa, MasterCard and American Express work best with Apple Pay. Participating banks are the following: American Express, Bank of America, Citi, Chase, Capitol One and Wells Fargo. If you don’t see your banks there, no need to worry because there will be more that will be working with Apple soon.
And two of the 220,000 and counting participating stores and retailers that you can use Apple Pay with are everybody’s favorite: Starbucks and McDonald’s.
Enjoy and maximize your shopping experience with Apple’s newest and finest mobile payment solution: Apple Pay.