Thibault Mathieu’s Latest Blog Post
On Monday, Apples much anticipated “Apple Pay” launched with very minor hiccups. But what exactly is Apple Pay? Apple designed a new way to pay at the register with much more ease. Gone are the days where you struggle to find your wallet or your credit card wont work after countless swipes. Check out this demo here:
It’s very simple and innovative. As you approach a register, just take out your iPhone 6. There is no need to open any app, just hold your phone near the contactless reader with your finger holding down the Touch ID. When you feel a subtle vibration as well as hear a beep, you’ll know your payment was confirmed. Prior to approaching any store or register, you will have had to set up a default debit or credit card with your phone. If you so choose not to use your default card at the register, there is an option to use an alternate card.
This way of payment is far more secure than ways in the past. If you recall in the last 10 years, especially around the holiday season when purchases are at an all-time high, people would steal peoples credit card information digitally as everyones cards are being read at registers hundreds of thousands of times a day. Apple Pay protects you from such breaches like this one here in 2013.
Now unfortunately Apple Pay is not for everyone. To start, you must own a new iPhone 6. Banks that are participating with Apple Pay include American Express, Wells Fargo, Bank of America, Capital One, Chase, and Citi. Soon to be participants include Barclay Card, Navy Federal Credit Union, PNC, USAA, and US Bank. Apple Pay is currently available at 220,000 stores and growing. Some of the major stores include Bloomingdales, Nike, McDonalds, Toys R Us, Whole Foods, and Disney. For more on Apple Pay, check out the following link here.
from Thibault Mathieu http://thibaultmathieu.net/apple-pay-launches/