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Apple Special Event: Apple Announce Pay

Apple have announced Pay.

A brand-new payment system, Pay will be built into the iPhone 6 and 6 Plus, and uses NFC, Touch ID and a Secure Element chip that stores encrypted info securely.

It works by adding your debit card to your iTunes account – which you pretty much do at the moment anyway – which then gets added to Passport, finally giving that particular iPhone app a genuine purpose. When you make a purchase, the card details are not given to the merchant; instead, a one-time payment number is used along with a security code.

And if your device is ever lost or stolen, you have the option to disable all payments made from the device.

Apple also maintain that they collect no information about your purchases, such as what you actually brought or where you brought it.

Pay will initially be available only in the US, with Visa, Mastercard and American Express all offering support. There will also been 220,000 merchant locations.

Apple Pay will launch in the US in October, as a free add-on to iOS 8.

 

 

 

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A co-owner of this here website, as well as a Writer, Podcaster and Designer. I'm well known for my enthusiasm and positivity. You can find out what's on my mind by following me on Twitter and by checking out The Geek Show, The Podcast of Wisdom and Ring the Bell.

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