Through the advent of technology such as smartphones, tablets and apps, gone are the days when persons seek to carry cash in their pockets and or wallets. Now all transactions can be done with a few touch of a button on your smartphone or tablet and you’re done. Payments can be sent quickly and the other party can view payments in few seconds. That’s what Apple latest technology, Apple Pay is all about.
Apple from its early beginning has been push mind blowing technology after technology and is showing no sign of stopping. Apple Pay is a new category of service now offered by Apple and will be launch alongside IOS 8.1 on October 20, 2014 according to sources. Apple Pay, when launch, will transform mobile payments with an easy, secure, and private way to pay. This technology will change how persons make payments with breakthrough payment technology and unique security features built right into the devices you have with you every day; therefore allowing you to use your iPhone 6 or Apple Watch to pay in an easy, secure, and private way.
How does Apple Pay Works
Now making payments in stores is very easy with Apple Pay and there is no need to walk around with credit cards and or cash, all you need is your IPhone. Apple Pay works with iPhone 6 (see review on Apple IPhone 6 here ) and iPhone 6 Plus through a groundbreaking NFC antenna design, a dedicated chip called the Secure Element, and the security and convenience of Touch ID. With Touch ID there is no need for an app or even for you unlock your phone as the Near Field Communication antenna in iPhone 6 will do the job for you. Making payments is very quick and easy, all you have to do to make payments is to 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. When payment is complete you will feel a subtle vibration.
Apple Pay will also work with one of Apple’s latest release, Apple Watch (Please see review on Apple Watch here ). This will allow over 200 million users of iPhone 5, iPhone 5c, and iPhone 5s worldwide according to Apple. To make payments through Apple Watch all you have to do is double-click the button next to the Digital Crown and hold the face of your Apple Watch near the contactless reader. When transaction has been completed you will receive a gentle pulse and beep to confirm that your payment information was sent. This however will be available in early 2015.
Apple Pay can also be used to make purchases online and through apps.
Apple Pay is very easy to set up allowing you to easily add their credit or debit card on file from your iTunes Store account and can be use in stores, restaurants or other merchants. According to Statistic Brain, 17% of Americans have experienced some form of credit/debit card fraud with 37% of Americans having their cards copied. With Apple Pay your privacy is very important and thus cashiers will no longer see your name, credit card number, or security code, helping to reduce the potential for fraud.
Apple Pay by Apple is an awesome service that Apple is offering to the public and will really change how we do business in the 21st century. As with every technology and invention that involves your finances and privacy, great care should be taken to safeguard your information. Therefore please use wisely.