The Vision Apple Set Forth with Apple Pay – A Wireless Digital Wallet
Apple Pay is coming out October 2014. Its simple to use. To pay for stuff at a store, just put your finger on the iPhone’s fingerprint sensor and hold it up to the register. Your done.
Wan’t to pay for something in an app? Just tap “Pay with Apple Pay”, put your finger on the fingerprint reader and your done. The charge goes straight to your credit or debit card, whatever you’ve set up with Apple. It sounds great, but can Apple really reshape the payments industry the way it did for music and phones? That’s left to be seen, Apple isn’t breaking any real ground here.
Apple Pay works be sending payment information via short-range radio waves. The message goes from a special chip inside the iPhone 6 to the register, called NFC, short for Near Field Communication. That neat feature is already on lots of Android, Windows Phone and Blackberry devices and works with Google Wallet, Softcard, PayPal and other services. Moreover, an estimated 220,000 retail stores have NFC devices at the register.
Apple could be the first to make mobile payments popular in the United States. Apple Pay will be easier, safer, available with every major credit card and at far more retail stores than the competition.