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Apple Reveals Apple Pay

The rumors have finally been confirmed and Apple has unveiled this morning its new service, Apple Pay. The famous company claimed that their new product will support mobile payments.

Apple Pay will use the company’s Touch ID and will take advantage of NFC technology.

This means that owners will be able to pay for the products they purchase or any other services by using their payment information that is already associated with their iTunes accounts.

So, Apple enters the mobile payments market, where they will compete with brands such as Google, PayPal or mobile carriers, some of which already use NFC technology.

During this week, the iPhone creator has already registered over 700 million users. Some of them already upgraded to the company’s new device, the iPhone 6.

Tim Cook, Apple CEO said that “Apple Pay will forever change the way all of us buy things.” “We’ve created an entirely new payment process, and we called it Apple Pay,” he added.
apple pay

Everybody is asking now how this service works. It actually works very simple, based on NFC. All you need to do is to touch your phone to a payment terminal and hold your finger on the home button to activate the Touch ID.

NFC is positioned at the top of the phone and owners will have the chance to see all their credit cards in the Passbook application.

You don’t need to worry because the card information is stored in the phone’s new Secure Element chip.

Actually, an important thing that Apple tried to point out now is that it will not use the service to collect or use information linked to the payments made by the user.

This means that Apple will not collect information on payment history and will no track what users have purchased. Apple also claimed that merchants will never see card numbers, as they will get just a transaction number and will receive the money.

Apple also claimed that Apple Pay will be available in the US starting with the month of October. The service seems to be really interesting and useful, but it is yet to see what Apple users will think about it. 
Apple Reveals Apple Pay Reviewed by Golane Alex on 3:37 AM Rating: 5
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