Categories: MacMobilityWorkspace

Apple Pay Offers Mobile Payments For iPhone 6 And Apple Watch

Apple has moved into the mobile payments market with the introduction of the Apple Pay digital wallet, which aims to replace the traditional method of paying with a credit or debit card.

Speaking at the launch of the iPhone 6, iPhone 6 plus and Apple Watch, Apple CEO Tim Cook called the digital wallet “an entirely new category of service” that could help make the 200 million card transactions made each day a lot easier.

“That’s 200 million times we scramble for our credit cards and go through what is a fairly antiquated process,” he said, criticising the existing system of magnetic strips and PIN codes. Cook added it was no surprise that many had tried to update this method but claimed all attempts had so far failed.

“We love this kind of problem,” he declared. “So we’ve created an entirely new payment process.”

Apple Pay

Apple Pay uses Near Field Communication (NFC) technology, which has been built into the iPhone 6 and iPhone 6 plus, and uses the Touch ID fingerprint sensor to verify a card user’s identity. The phone is tapped on a compatible reader and a vibration informs the user if the payment has been successful.

The wallet also works with the newly-announced Apple Watch, but the company hasn’t explained how this will work in too much detail.

Users can add a card associated with an iTunes account directly to Passbook, but Apple says it does not store any card data, nor can it see purchase details, location or cost.

“We don’t store the credit card number, we create a device only number,” said Eddie Cue, Apple senior vice president of Internet software and services “Each time you pay, we use a dynamic number and a security code.”

Apple also says that if a device is lost or stolen, users can tell Find my iPhone to either stop card activity or remotely wipe the device.

The service is only available in the US to begin with, with 220,000 stores capable of receiving payments, with UK availability unclear at this point. Apple Pay will be included in a future iOS 8 update, and Apple will also be opening up the API to developers so their apps can handle payments.

The introduction of NFC technology and the launch of a digital wallet service had been expected, with similar support included in rival handsets for some time.

How much do you know about the iPhone? Take our quiz!

iPhone 6

Image 1 of 11

iPhone 6
Steve McCaskill

Steve McCaskill is editor of TechWeekEurope and ChannelBiz. He joined as a reporter in 2011 and covers all areas of IT, with a particular interest in telecommunications, mobile and networking, along with sports technology.

Recent Posts

Ericsson To Cut 1,200 Jobs in Sweden Amid ‘Challenging’ Market

Swedish telecoms giant Ericsson blamed “challenging mobile networks market” and “further volume contraction” for job…

6 hours ago

FTX’s Sam Bankman-Fried Sentenced To 25 Years In Prison For $8bn Fraud

Dramatic downfall. Sam Bankman-Fried sentenced to 25 years in prison for masterminding $8bn fraud that…

7 hours ago

Elon Musk Orders FSD Demo For Every Tesla US Sale

Fallout avoidance? Tesla buyers in the US must be shown how to use the FSD…

8 hours ago

Amazon Pumps Another $2.75 Billion Into Anthropic

Amazon completes its $4bn investment into AI firm Anthropic, after providing an additional $2.75bn in…

10 hours ago

The Sustainability of AI

While AI promises unparalleled efficiency, productivity, and innovation, questions regarding its environmental impact loom large.…

13 hours ago

Trump’s Truth Social Makes Successful Market Debut

Shares in Donald Trump’s social media company rose about 16 percent after first day of…

13 hours ago