Do you know the CEO of Apple’s he is Tim Cook?
He introduced their latest innovation to the world as “Apple Pay” on 9 September 2014.
It is mobile payment, digital wallet service by Apple Inc. in person, in iOS apps and on the web it allows users to make payments.
They launched apple Pay along with the iPhone 6, iPhone 6 plus and Apple Watch.
When Apple Pay introduced Tim Cook said this word, they are “Apple Pay leave a permanent mark on the way all of us buy things.”
Do you notice who designed it and what is the history behind it?
The Co-inventor of Apple Pay was AhmerAli Khan. He is the only Pakistani out of seven pioneers of Apple’s new technology.
He graduated from Ghulam Ishaq Khan Institute of Engineering Sciences and Technology in 2002. They’re only he recognized as a programmer.
When he was working in VIVO tech, he structured a model for building a smart-phone based payment system. Later, in 2011, Apple selected Khan to apply his theory to practice.
Now, what the world known as “Apple Pay” had filed a patent by Khan along with six other inventors in February 2014.
By this recent technology, it allows users to hold his Apple gadget, an iPhone, or the Apple Watch to a contactless reader to make payments.
With a small beep or vibration, they confirm transmission. To feed credit and debit cards, information to the device’s Passbook app phone camera is used.
So, Apple says this all transactions are private and secure.
How to Use Apple Pay
When you hold your iPhone near the contactless card reader, later an image of your card will appear on the screen.
You can place your finger on the Touch ID sensor unless using an iPhone that uses Face ID. but don’t press on the Home button. Now, wait for a second for it to confirm your fingerprint and viola.
For using a different card, tap the one on-screen and choose another. By double-clicking the Home button, you can prepare a card at the lock screen.
But on the iPhone X and iPhone XS family, Apple Pay is a little different, as these phones don’t have fingerprint scanners.
Instead of them, you can double click the side button of the phone, a glance at the iPhone to authenticate yourself with Face ID. within a few centimeters of the card reader, you can hold the top of the iPhone
With your recent iPhone, if you want to use a different card, tap on your default card after double-clicking the side button, now choose a different card.
Apple Pay app
Do you want to set up Apple pay in your device thus get started by adding your credit, debit, or prepaid cards to your iPhone, iPad, Apple Watch or Mac?
Use your Apple pay with over one device, and then you need to add your card to each device.
In simple steps, let us see how to set up it in the old model.
Assure that your iPhone is compatible which means you need to have an iPhone 6 or iPhone 6 plus and they must upgrade it to iOS 8.1 or later.
In your iOS device open the passbook and apple pay settings from the settings app.
devices with iOS 9 or later, the passbook and apple pay settings will call “Wallet and Apple Pay”.
tap on the link “Set Up Apple Pay” in credit and debit card box. if you don’t have a passcode enabled then now you will enable it.
For adding a new credit or debit card to passbook click on the “Add a new credit or debit card”
You can enter your information manually, otherwise, you can use the photodetection feature to take a picture of your card. Now tap on the next when you finished filling out the required information.
In the lower right tap on the “Agree” by accepting the terms and conditions. Again, it will ask the “Agree” tap on it to confirm.
By selecting a verification option, your verification will complete then tap on “Next”.
To enter the verification code that you have received a tap on the “Enter Code” box.
Now enter the verification code, then tap on “Next”.
For knowing your card activated you will receive a confirmation email message or push notification from your bank. The message will thank you for setting Apple Pay up for your card or cards.
Apple Pay on Watch
Apple Pay also brilliantly works with Apple Watch.
Now we have a deep glance at how to set up Apple Pay in Apple watch and about its working.
Take your iPhone and open the Apple Watch app and go to My Watch tab.
Click on the Wallet and Apple Pay option.
Now follow the steps to add a card.
Tap on add card and add the card you use with your Apple ID, cards on other devices, or cards that you have recently removed.
Choose one of them and enter the card security codes.
Tap on Next.
Now the bank will verify your information and decide if you can use your card with Apple Pay.
The bank if needed more information to verify your card then they will ask you for it.
If you have the information they asked then go back to Wallet and Apple Pay and tap your card.
After completion of your verification by the bank then you can start using Apple Pay.
Apple Pay on android
Do you know about contactless or NFC payment?
You might notice nowadays people are using different ways of paying at stores. Instead of dipping or swiping credit cards they are holding mobile terminals over the POS terminal.
This payment through the POS terminal is called contactless or NFC payment.
I’m telling this means in android Apple Pay can’t work only in Apple mobile’s Apple pay will work. It won’t work on android devices. But both Apple Pay and Android Pay use NFC (near field communication) for transactions. So, android pay is one of the popular NFC mobile payment apps. And it is a google mobile wallet technology.
Apple Pay on iPhone
Go to the option wallet and tap the right side symbol shown in the picture.
Follow the steps as seen in the process for setting up Apple Pay on Apple watch.
Once when you set up Apple Pay on iPhone or Apple Watch, you can use your cards on the web in safari on some Mac models while signed in to iCloud.
In iPhone 8 and iPhone 8 Plus models, Apple watch series 3 you can add up to 12 cards on a device.
In earlier models, you can add up to 8 cards on a device.
Where we can use Apple Pay?
Many hands now fill with apple phones and many payments are done through online. There is no need to bring cash along with you.
Nowadays grocery stores, boutiques, and restaurants from vending machines to trains and taxis you can use Apple Pay.
By using Safari on your iPhone, iPad, Mac all kinds of apps and websites accept it. and using this Apple Pay you can make donations to your favorite nonprofit it is easy and secure.
Which stores accept Apple Pay
Here are the stores that accept Apple Pay
7-Eleven, Ace Hardware, Acme Markets, Aeropostale, Albertsons, Aldi, American Eagle Outfitters, Anthropologie, Apple Store, ARCO.
B&H SuperStore, Babies R Us, Barneys New York, Bashas Grocery stores, Baskin Robbins, Best Buy, BevMo! BI-LO, Big Lots! BJ’s Wholesale Club, Bloomingdale’s.
Carrs, Champs Sports, Chevron, Chili’s, Circle K, Corner Store, Costco, Crate & Barrel, Cub, CVS, Chevron ExtraMile, Chick-fil-A, Coca-Cola Vending Machines.
Dan’s Fresh Market, Davis Food & Drug, Detroit Tigers, Dick’s fresh market, Disney Store, Duane Reade by Walgreens, Dunkin Donuts.
El Pollo Loco, Express, Farm Fresh Food & Pharmacy, Firehouse Subs, FoodMaxx, Foot Locker, Footaction, Forever 21, Fuddruckers.
Why Apple Pay is more secure than the physical card
When you trust on technology it is a little scary, especially if you accustomed to a certain process.
Using Apple Pay can secure your credit card information in ways that card cant use.
We can see that Apple Pay is more secure than a physical card.
1.it requires extra verification
2. it does not share your card information
3. your information can’t be skimmed
4. It won’t store your card information on your device
5. can suspend the service
1. It requires extra verification
A thief can successfully make a purchase with your physical card. The 4 credit card payment networks like Visa, Mastercard, American Express and Discover no longer require signatures.
So, using Apple Pay if a thief steals your device will have a hard time using it to make purchases.
Because the app requires your identity to verify using your passcode or the Touch ID or Face ID feature, then it is too tough to fake.
2. It does not share your card information
When you make a purchase with Apple Pay every time whether in a store, in an app or online, instead of sharing your credit card number the mobile wallet creates a unique code for processing the transaction.
Especially Apple Pay can be helpful for mobile and online shopping.
Because credit card EMV chip uses a technology called tokenization. All the merchants have chip readers, and EMV chips don’t work when you make in-app and online purchases.
3. Your information can’t be skimmed
When you go shopping with a merchant using a card it requires you to swipe your card instead of using the chip.
Because the static information on the magnetic strip can easily be stolen if a thief has installed a card skimming device on the card reader.
Apple Pay does not share static information or doesn’t require a swipe.
4. It won’t store your card information on your device
Apple won’t share your card information with merchants or keep your card information on your device or on its own servers.
A statement says “if a hacker who gain access to your device or your iCloud account could not get your credit card information.”
5. can suspend the service
You can suspend the Apple Pay app by placing your device in “lost mode” by activating the find my iPhone feature or a similar feature on another Apple device.
Banks with Apple Pay
Recent records tell us many banks allow transactions through Apple Pay now we can observe the list of the banks that support Apple Pay in the US.
American Express, Bank of America, BBVA Compass, Capital One, Chase, Citi, Discover, Green Dot, HSBC, PNC, Synchrony, USAA, Wells Fargo, TD Bank.
do you know flash news that Apple Pay will not launch in India?
The countries like Australia, Canada, Mainland, China, France, Hong Kong, Ireland, Italy, Japan, New Zealand, Russia, Singapore, Spain, Switzerland, The UK, The US, and Taiwan.
These are the countries use Apple Pay for contactless payment.
Shocking to hear that Apple which is the world’s largest biggest company has decided not to launch its flagship in India.
There are 3 reasons why this happening.
As earlier announcement said by Apple that Apple Pay is UPI based and provide contactless payment services in the country.
Due to complicated Red Tape and regulatory roadblocks In India Apple has forced to stop its expansion plan and go back to the drawing board.
Amazon and What’s app also halted their plans to introduce their own digital payment services in India due to the above reason.
RBI is so surprised by watching the entire ecosystem in India because every wallet and the finance company should store data of Indians, inside India.
At that moment 2 trillion Dollar transactions were being processed in India.
RBI stated in their notification that to have unfettered access to all payment data for supervisory purposes, the RBI decided all payment system operators will ensure that data related to payment systems operated by them.
they are stored only inside the country within a period of six months.
For this, the government launched a new Cloud Computing Policy for India. so, that every internet and digital company again forced to locally store their data in India.
So, this might be the strongest reason that Apple is now hesitant to launch its Apple Pay in India.
Due to the reason for not having the data center of Apple in India right now they can’t store data of Indians in India.
NPCI’s decision is to not allow PIN-less payments by Apple Pay this is the major reason.
Now in India the online payments require a Pin or OTP. Apple does not require a PIN for transactions. Just a fingerprint is enough to process the payment.
But, in NPCI it is mandated that a 4 or 6 digit Pin to authorize payments, and won’t allow biometric access based payments.
So, this is the major reason for Apple to wait for launching its Apple Pay services.
Apple Pay limit and fees
There is no limit for Apple Pay unless contactless card payments. Because they have a limit of up to £30.
You can pay for your weekly shop, or fill your car up with fuel using your iPhone or Apple Watch.
With any financial transactions, there are some fees, limits imposed when sending, receiving or transferring money with Apple Pay cash.
No need for any fees while you send money from a debit card or your Apple Pay cash card balance. If it was a credit card, 3% of the total sent.
When you are adding money to your Apple Pay cash card balance, the minimum amount is $10 and the maximum amount is $3,000. You can also limit to adding $10,000 over a 7-day period.
while sending or receiving money, $1 to $3000 is minimum and maximum,
Just like adding money from debit and credit cards, $10,000 is the limit that you can send or receive with Apple Pay cash.
For transfer of the amount to your bank account, you need $1 to $3,000 in one transaction and up to $20,000 per 7-day period.
Cashback with Apple Pay
Apple offers a “Daily Cash” cashback program.
On all purchases, you get 1 percent cash back.
When you made Apple Pay purchases with Apple card you get 2percent cashback.
At Apple retail stores, App Store, iTunes, and some third-party partner stores if you made Apple-related purchases then you get 3 percent on it.
There is a doubt that the cashback amount will be returned quickly or it takes 24 hours time period.
For this Apple says once you made a purchase your daily cash is added to your Apple cash card quickly.
An interesting point is when you made a purchase each time you get a notification but every time you don’t get a notification when you receive daily cash.
Instead of it every morning you receive a notification of total daily cash received the day before and also your total amount is this month.
at last, this was the total view about Apple pay. as technology updating, there were many features that come into our notice. I think India also gets benefited due to Apple service via the Apple app in the coming days.