Tuesday, 22 March 2016

Apple Pay: All You Need To Know About This Trendsetting Digital Wallet

Why use old when you have a new way of shopping? Do you know Apple Pay has redefined the unique way of online transactions? Apple has used the approach of digital wallet in its 2014 launch of Apple Pay majorly aimed at enhancing apple users’ shopping experience. As a new mobile payment and much improved digital wallet service, it allows users to make payments through mobile devices (mobile handsets and wearable watches and iPads). The most incredible part of this kind of Apple Pay digital payment service is that you can make the whole process without involving any physical payments, which means pleasant liberation from scratch of credits cards and financial data security.

Ever since its launch, Apple Pay services have been a much mulled over, sought after and talked about word of mouth globally. Now that it has completed more than one year, we have decided to analyze how Apple Pay works and pros and cons associated with it.

Here in this article, you will be able to know all about the Apple Pay usage, its security level and why it is deemed to be one of the superior tech trends in 2016. So if you are still wondering if you should give it a go, this article will come in handy for you.


International Reach And Global Expansion Of Apple Pay

After getting launched in US in 2014, in January 2016, the use of Apple Pay is open to the consumers who belong to US, UK, Canada, and Australia.
Job listings have signified that Apple Pay is likely to expand to Europe, Middle East, India, and Africa in near future though there is no strong confirmation from Apple regarding a specific launch date or regions where its services will be available.


Devices That Support Apple Pay

Initially designed to work with iPhone 5, amazing Apple Pay can now perfectly work with iPhone 6, iPhone 6 plus and later versions, iPad Pro, iPad Air 2, or iPad mini 3 and Apple Watch. iPhones and iPads can utilize Apple Pay from Apple apps whereas Apple Watch can benefit from it when paired with iPhone 5 or later.


Banks, Cards And Retailers That Allow Apple Pay Transaction

Apple Pay provides support for transactions done in association with major credit and debit cards providers and US banks.

Apple Pay works well with many financial institutions like American Express, Bank of America, Capital One, Chase, Citi, Wells Fargo.

In future, Apple Pay will be supported by Barclays, USAA, Navy Federal Credit Union, PNC, and US Bank.

Considering UK, Apple Pay will shake hands with M&S Bank, Bank of Scotland, Halifax, Ulster Bank, NatWest, American Express, Santander, Royal Bank of Scotland, Nationwide, HSBC, First Direct, TSB, MBNA and Lloyds Bank.

The US stores that accept Apple Pay contactless payment are: Babies-R-Us, Bloomingdales, Disney, Duane Reade, Macy's, McDonalds, Nike, Petco, Staples, Subway, Toys-R-Us, Unleashed, Walgreens, Whole Foods, etc.

The UK stores where Apple Pay will work are: Boots, Waitrose, M&S, Wagamama, Nando's, Liberty, Lidl.


You Can Configure Apple Watch For Apple Pay

Before you can use Apple Pay on Apple Watch, you will have to follow a set up process. You need to pair Apple Watch with iPhone after which you can initiate adding your cards to your Apple Watch through the Watch app on your iPhone.     

One thing to bear in mind while adding Apple Pay to Apple Watch is that it must be supported by your Bank. It is required to verify your information. You will be able to use Apple Watch when you are notified to do so after successful verification.

What comes as a blessed relief is that you can even enjoy Apple Pay contactless payment on incompatible iPhone devices with the help of Apple Watch.


Here Is Your Apple Pay Purchase Guide

Since Apple Pay functions only in synchronization with Apple Apps, you need to opt for Apple Pay when initiating payment process at checkout threshold. As you proceed, the system takes in all your payment details automatically, allowing you to pay using Touch ID.

When it comes to in-store payment, the store must have contactless payment enabled point. If your iPhone is NFC (Near Field Communication) enabled, you just need to authenticate the process by using Touch ID finger security. Hold out the device to the point of sales or just double click a side button if it is Apple Watch you want to use for payment.

The purpose of NFC communication is to allow your device to connect with the sales terminal situated within a range of 4cm (2 in) or even less.


Touch Id For Apple Pay Usage

Touch ID enables a biometric fingerprint security feature that allows users to control their purchase activities. Using their fingerprints as authentication, they can lock their iPhones or authorize purchases.   For setting Touch ID, you can go to Settings on from the Home screen and follow the whole process. So each time you unlock the phone or authorize payment through Apple Pay, you will be asked to enter your fingerprint verification.


Apple Pay Shields Your Data When You Lose Your Apple Devices

With immense power and reach Apple Pay offers, one effortlessly thinks that losing their iPhone or Watch would be a perilous disaster. But Apple has alleviated that stress for you as they go to claim.

According to the company, you can safely reduce the risk by resorting to Find My iPhone option to put your device in Lost Mode. This facility will lock all access preventing frauds and thieves from gaining confidential content entered through Apple Pay or Wallet data. You can use the same feature to clean your iPhone completely.


Apple Pay Solves The Major Headache: Security Issues

The biggest issue resolved by Apple Pay while making transaction is security of your financial details. It is possible that you may lose the most confidential details about your credit card as you enter them in a site or an app. But Apple Pay outsmarts others and shuns saving your transaction information on its servers.

Apple Pay authorizes your payment with a token based backend system in which your card details are safely replaced by number or a token, thus generating a Device Account Number for each card you use. The identity verification of Apple Pay encrypts, assigns and stores this number in a dedicated chip of iPhone or Apple Watch. When the payment is done, the token is sent to the merchant who doesn’t have any of your card details.


Apple Pay Success So Far In US

What Apple Pay has achieved in US is no less than a miracle. Tim Cook says Apple Pay supports over 750 banks and credit unions. More than $2 out of every $3 of contactless purchase is made out of Apple Pay, he claims in 2015.

Apple Pay became widely successful in US as it got integrated with many paid services like laundry machines, payment kiosks, and vending machines.

Panera Bread, Cook boasted, accepted 80% of its online payments using Apple Pay. Big brands like Walgreens and McDonald's were big fans of Apple Pay as well.

View more information on mobile application development, iphone app developmentand iPhone app developer. This expertise of the author has really been appreciated by viewers.


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