Apple Pay has been designed to provide consumers with an easy way to pay at their favorite stores and online, and it’s already enabled at over 6 million locations across the US, UK, Australia, and Canada, and in more than 60 countries around the world.
Log hook: As the days pass, another company comes up with a new concept of payments that has everyone talking about the next big thing in payments. That company is Apple, and their latest offering is Apple Pay.
They are setting things up by partnering with banks and credit card companies to allow their customers to pay with their mobile devices using the phone number they already have. This is a revolutionary change in how we spend.
It was introduced in October 2015 as a feature of the iPhone 6s and iPhone 6s Plus. So far, it’s been a success.
With over 5 billion users worldwide, Apple Pay has taken payments technology by storm. It allows us to make secure mobile payments in apps using just our phones. It’s the perfect way to pay for a cup of coffee at Starbucks or to buy that new phone. Apple Pay also makes it easy to top up our prepaid phones when we’re on the go and is even available to use on some ATMs, allowing us to spend less time standing in queues and more time doing what we love.
What is Apple Pay?
Apple Pay is a mobile payment service developed by Apple Inc., introduced at Apple’s Worldwide Developers Conference on June 10, 2014. It enables users to purchase from participating retailers by holding their iPhone or iPad near a contactless reader.
According to Apple, this new service is expected to work across the US, UK, Canada, Australia, China, France, Germany, Hong Kong, Japan, Singapore, Spain, Switzerland, Taiwan, and the United Arab Emirates.
In August, Apple announced the expansion of Apple Pay to include additional countries, including Brazil, Denmark, Finland, Ireland, Italy, Mexico, Norway, Portugal, Sweden, and the Netherlands.
As of October 2014, Apple Pay is available for download in the App Store for iOS 7.1 or later. can be used on compatible iPhone, iPod touch, and iPad models running iOS 7.0 or later.
How to use it?
The user needs to install the app on their device and then scan the barcode on the back of the card. They can then select whether they would like to use Apple Pay or their regular payment method.
The benefit of this is that it allows them to use their phone number as their payment method and not worry about their card being stolen or lost.
Apple Pay can be used anywhere that accepts cards, and it is available for the iPhone, iPad, and Mac. However, it isn’t yet available for Android.
Where can I use it?
Apple Pay will be launching in the US later this year, and it is expected to be available in the UK by 2017. If you are a merchant, you can start accepting Apple Pay today.
Apple Pay is available on iPhone, iPad, and Mac computers. It works with major credit cards, and Apple has partnered with Visa, Mastercard, American Express, and Discover. There’s no need to set up anything else. You need to make sure you have your Apple ID and credit card.
Apple Pay also makes it easy to switch from one credit card to another without entering your credit card information again. And when you use it, you’re protected by the same level of security as using your Apple device.
Can I accept Apple Pay on my website?
Apple Pay is a relatively new payment type that allows consumers to buy products and services with a single device. Consumers can hold up their iPhone, iPad, or iPod touch to a merchant’s terminal to make a payment.
It works with any store that accepts credit cards. So, if you sell products or services that consumers can purchase using a smartphone, you can accept Apple Pay.
The only caveat is that you have to partner with an existing credit card company. Currently, Apple has partnered with VISA, MasterCard, and American Express. However, many other credit card companies would love to partner with Apple, so Apple will likely expand their partnership to include more credit card companies in the future.
Frequently asked questions About Apple Pay.
Q: How did Apple come up with the idea for Apple Pay?
A: In 2005, Steve Jobs was very interested in creating a mobile wallet that would help solve the problem of people carrying multiple wallets full of cards.
Q: How does Apple Pay work?
A: With the introduction of the iPhone 6, Apple Pay became a reality. Using Apple Pay, your phone communicates with your bank’s card reader through NFC. A single touch on your phone unlocks your device and provides a user experience similar to swiping a card.
Q: Are there any plans to expand Apple Pay?
A: There are no current plans to expand Apple Pay into other countries or introduce it as a standalone payment method. However, Apple is working closely with banks and credit card companies to make it easy for users to use Apple Pay with other payment methods.
Q: Why haven’t more consumers adopted Apple Pay?
A: One reason may be that there are still not enough merchants that support Apple Pay. Another reason is that consumers may not know about Apple Pay, or they may be uncertain how to use Apple Pay or feel like they need to learn more.
Q: Is Apple Pay secure?
A: Apple Pay is designed to provide a secure experience for customers. To begin using Apple Pay, you must verify your identity with Touch ID or give a passcode. You can also choose to enable the Wallet app and turn off the ability for anyone else to access your credit card information.
Q: How does Apple Pay compare to other mobile wallet services?
A: Apple Pay works with central US banks and credit unions, but not with all cards. Many retailers will not yet accept Apple Pay, and we continue to work with them to expand their acceptance.
Top Myths About apple Pay
1. Apple Pay will work with any card.
2. Apple Pay will accept all cards.
3. Apple Pay is a secure payment system.
4. Apple Pay is more secure than regular credit cards.
5. Apple Pay is better than regular credit cards.
6. Apple Pay is the next big thing in payments.
Apple Pay is the latest addition to Apple’s iDevices. It’s a simple, secure, and easy-to-use solution that makes it easy to pay for goods and services at various retailers and apps.
While it’s not as advanced as other solutions, it has the potential to be the next big thing in payments. And that means a new wave of growth for Apple and a boost to the online economy.