“Apple Pay is going to replace your wallet”, “Apple pay will prove to be the most secure payment route”, “Apple pay change the way you make payments”, etc., thanks to all media who spread these rumours, and thanks to Apple who put its promises. Apple Pay is a new mobile payment service or a digital wallet of users introduced by Apple Inc.
People are always waiting for the next release of Apple as they know that something new is always being introduced with each release. This time, with iPhone 6, Apple has replaced the traditional wallets of Apple users with a digital wallet namely Apple Pay, the biggest announcement of the month October 2014. Apple Pay has gifted users an easy, fast and secure way to make the payments on the purchase of physical goods and services within the apps. Apple has also announced an API for mobile application development company to build apps with an Apple Pay checkout.
What is Apple Pay?
Apple Pay is a new mobile payment service of Apple. With the recent update by Apple iPhone 6 and 6 plus with iOS 8.1, you will get a passbook application integrated by default which allows you to add your credit card details either by typing information or by scanning your credit card using the camera. The bank will confirm and verify your details and save it to your device. Now, you are ready to go for a purchase with your mobile wallet as Apple Pay is based on NFC technology, it can be used anywhere.
How Apple Pay Works?
How Apple Pay is a Secure Mode of Payment?
What If I lost the Device?
Apple Pay includes facility for every possibility. In case, if you lost the device, you can go to iCloud to repeal the specific number linked to your iPhone. This will remove all chances of future payments. And by chance, if you lose your credit card, you can revoke or update the details in Passbook app.
Apple Pay is a great prospect for widespread adoption. Apple aims to replace the traditional wallet with a digital one so that users don’t require digging through the wallet in order to find their credit cards. The five second process of Apple Pay gives an ease of payment and saves a lot of time, making Apple considered as the significant player in digital payment space.
Related: How to choose a platform for your app launch
People are always waiting for the next release of Apple as they know that something new is always being introduced with each release. This time, with iPhone 6, Apple has replaced the traditional wallets of Apple users with a digital wallet namely Apple Pay, the biggest announcement of the month October 2014. Apple Pay has gifted users an easy, fast and secure way to make the payments on the purchase of physical goods and services within the apps. Apple has also announced an API for mobile application development company to build apps with an Apple Pay checkout.
What is Apple Pay?
Apple Pay is a new mobile payment service of Apple. With the recent update by Apple iPhone 6 and 6 plus with iOS 8.1, you will get a passbook application integrated by default which allows you to add your credit card details either by typing information or by scanning your credit card using the camera. The bank will confirm and verify your details and save it to your device. Now, you are ready to go for a purchase with your mobile wallet as Apple Pay is based on NFC technology, it can be used anywhere.
How Apple Pay Works?
- Finalize the balance require to pay
- Turn the device on
- Take the device near to the payment terminal
- Pop Up Screen confirms the payment through default card
- A beep arise, indicating the payment done successfully
How Apple Pay is a Secure Mode of Payment?
- Secure Element: iPhone 6 and 6 plus, both are comprised of “secure element” which set aside a specific number associated with your credit card, allowing you to pay securely without getting worried for hackers stealing your number.
- Tokenization: During the payment process, Apple pay uses a “tokenization” concept in which, instead of actual credit card number, a one-time number is generated to make the purchases and this number will never be used again in future. So, you can be confident that no one will steal the data during the continued transaction process.
- Touch ID: Touch ID is an additional layer over payment security. Apple Pay accesses only your finger print to get verified, not a pin number or not a finger print of others will work.
- Push Notifications: After making payments, you will receive a push notification, detailing the exact amount paid via credit card.
- Passbook App: To get confirmed that you are not charged extra amount out of your knowledge, all your credit card transactions are saved to the passbook app.
What If I lost the Device?
Apple Pay includes facility for every possibility. In case, if you lost the device, you can go to iCloud to repeal the specific number linked to your iPhone. This will remove all chances of future payments. And by chance, if you lose your credit card, you can revoke or update the details in Passbook app.
Apple Pay is a great prospect for widespread adoption. Apple aims to replace the traditional wallet with a digital one so that users don’t require digging through the wallet in order to find their credit cards. The five second process of Apple Pay gives an ease of payment and saves a lot of time, making Apple considered as the significant player in digital payment space.
Related: How to choose a platform for your app launch