Fat Bill & Cards into Apple Pay Digital Wallet

Apple Pay

From big fat notes & bills in the wallet to plastic cards to now on mobiles wallets, your bills can be paid without any hindrance or fear. An easy mode with real-time savings as Apple Pay enables to make frictionless credit card payment on iOS- simple, just by a single touch.

As Apple has always tried to stand exponentially in creating things which others have attempted before and have failed to succeed; Apple has always found ways to take a lead. Having a single card to ward off all cards and bills are pretty great to listen and use, but one things that Apple need to look before it vanquish the plastic cards for good, the majority of retailers lack technology that can accept the company’s new payment services.

How does Apply Pay work?.

As per the CEO Tim Cook, only 220,000 stores will work with Apple Pay that is around 2.4% of nearly 7 million to 9 million dealers in the US that accepts credit cards. 97.6% of businesses do not have point-of-sale systems that work with near-field communication (NFC) antenna, a technology that enables user to make payment by holding an iPhone near the contactless reader with a finger on touch ID. This NFC is available in all Apple’s iPhone 6 and 6 iPhone Plus devices. Once the payment is made, the subtle vibration and beep lets us know about it. This also enables the user to buy anything online from Apple Pay.

How to use Apple Pay?

Apple Pay1

  • The iPhone 6 or iPhone 6 plus must have at least iOS 8.1
  • Set up the fingerprint scanner and with use of camera option scan the credit card, so that you can send the card to add it to passbook.
  • With the use of near-field communication (NFC) chip that is hidden inside the phone, initiates the payment with a special receiver
  • Apple Pay authenticates the transaction with a fingerprint scan on the home button, some cases user need to enter a PIN into the card reader and also scan the fingerprint

How safe is Apple Pay?

In the world of hacking and other digital fraud, it’s a big question for digital wallets, how secure they are?

As per Apple – the company “doesn’t save users transaction information. With Apple Pay, the payments are made private. Apple Pay doesn’t store the details of user’s transactions.”

It also very clear that the user never reveals the credit card to any shops or clerks who can see the user’s name, their credit card digits or any other identifying information as the process involves a unique encrypted Device Account Number in the Secure Element, a dedicated chip in the iPhone. Even if the iPhone is stolen or lost, the user can delete all the information from the iCloud.

Are user’s ready to embrace the Apple Pay?

It’s too early to predict how successful Apple Pay is going to hit the market, with many experts not being rosy on Apple’s chance for mobile payment, as many retailers out there are not supported with Apple Pay. As and when more retailers embrace adding of Apple Pay, then it will become easier to build the Apple Pay platform.

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