What's new

Apple Reveals Apple Pay Mobile Payment Platform


Editor in Chief
Jul 27, 2011
Reaction score

Apple also unveiled their new mobile payment platform called Apple Play. Here are the details:
  • Apple Pay will work with the three major payment networks: American Express, MasterCard, and Visa.
  • To get started with Apple Pay, you can simply add a card from your iTunes account.
  • Apple Pay will be available in the U.S. in October 2014
  • There’s no need to fill out lengthy account forms. Card details are kept private and won’t be shared with the online merchant.
  • Apple Pay is built through relationships with great retailers and partners.
  • Apple Pay works with the top bank issuers that handle 83% of the credit card purchase volume.
  • There are more than 220,000 merchant locations that accept contactless payment.
  • Cashiers don’t see your name, your card number, or your security code.
  • Apple doesn’t know what you bought, where you bought it, or how much you paid for it.
  • It generates a dynamic security code, replacing the static security code from the back of your card
  • Each transaction is authorized with a one-time unique number.
  • When you add a card to Passbook, its number is never stored or shared on your device or Apple servers.
  • To add a different card, just use your iSight camera.
This is going to be a huge opportunity for Apple, and this program should prove to take the company to a whole new level in taking care of their customers.