Tuesday 9 September 2014

Updated: Apple's about to change the mobile payments game with Apple Pay

Updated: Apple's about to change the mobile payments game with Apple Pay

Mobile payments have been a tricky area for so long, but Apple is hoping to change that, announcing its own payment platform at the big event in San Francisco, called Apple Pay.


Apple Pay is built into the new iPhone 6 and iPhone 6 Plus. It uses an NFC antenna to communicate with point-of-sale systems and works both alongside TouchID and a new chip called "secure element" that stores payment information encrypted, and securely, according to Apple.


When a new card is stored, a device-only account number is created, and the card details are stored using a one-time payment number, along with a one-time "dynamic security code".


Apple Pay


Secure transactions


It means that Apple doesn't know what you've bought, how much it cost or how you paid for it, with the transaction details being viewable only between you and the bank. The cashier won't see your name, credit card number or security code, as they would when you use a plastic card at the checkout.


Starting in the US from October, Apple Pay will initially accept American Express, Mastercard and VISA. A number of stores across the states, including Disney and McDonald's (through its drive through) will be implementing the tech, in addition to Apple's own stores.


iOS 8 features a new Apple Pay API that will be available to developers, and as such Apple reckons a ton more apps featuring its snazzy payments functionality will follow suit as developers get onboard.

















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