In terms of mobile payment platforms , Apple Pay is arguably the front-runner. Apple’s payment software has a impressive number of partners-both in banking and in retail. And according to experts who sell iPhones and other Apple products, the company endeavors for Apple Pay to grow even more.
How Apple Pay Works
Using an Apple Pay when shopping is easy enough to do. When you buy a product at a brick-and mortar shop,go to the wireless payment terminal of the store. This is usually near the cash register. Hold your iPhone up and use your Touch ID to complete de process.
The sensors from the wireless terminal will automatically wake your iPhone up once the smartphone gets into its range. Automatically, it will enable the paument process.
If you want use Apple Pay via Apple Watch, simply double-press the button bellow the Digital Crown. By design , this action will show your default Apple Pay card. Hold your Apple Watch near the wireless payment terminal until the device beeped or vibrated.
If you made an online purchase and use Apple Pay via your iPhone or iPad, you only need your Touch ID to complete the process. Depending on the app of the online store, you either toggle the gadget’s setting to enable access to Apple Pay or set it as the default mode of payment.
Some retail shops require a PIN to complete the transaction . Others need you sign the receipt to complete the purchase.
Device Compatibility
All iPhone 6 and iPhone 6 Plus users can reap the benefits and perks of Apple Pay. Both phones are integrated with Near Field Communication chips at the top rear of the smartphone.Both also have the Secure Element (SE), which is a separate security chip that generates a special, one time code when making a purchase.
As for Apple’s flagship tablet, only the iPad Mini 3 and iPad Air 2 are set up to make Apple Pay work. However, unlike the iPhone where purchases can be made at retail stores, iPad transactions are limited to in-app purchases.
Safety and Security
Apple Pay is a secure mobile payment platform. Apple presented a hardware-based , dual-parts security solution for this software. The first part is the user’s fingerprint mandatory for every transaction. For in-store purchases , Apple’s Touch ID is used.
The second part is what truly strengthens Apple Pay’s security-the Security Element. The chip keeps financial details protected and locked away. It can only be triggered when a randomized 16-digit number is produced during the purchase.
All the data stored in the SE are exclusively retained on the chip. The details never make its way to the device’s operating system. This means even if someone hacks the iPhone or iPad’s iOS , there won’t be a way to extract your financial information.
The latest News
As of July 2015, Apple partnered with 23 more financial institutions in the US. The addition -which includes credit unions and banks-further expands Apple’s partnership that already encompasses over 300 banks in America. These include banking giants like Bank of America , Citibank , Capital One, and Wells Fargo.
Apple Pay can now be used in various shops in the UK , but with limited banking partnerships.
