Apple Inc is an American multinational corporation headquartered in California in the United States of America. Established in 1976 by technology entrepreneurship luminaries,this tech giant has now become the designer and creator of iPod and iTunes, Mac Laptop and desktop computers,etc.These major products have been accompanied by the launch of others such as the Apple Pay.
The Apple Pay is a mobile payment and digital wallet service that allows users to make payments using the iPhone 6, iPhone 6 plus, Apple watch compatible devices such as iPhone 5 and later models such as iPad air 2 and iPad mini 3.This innovative product does not require Apple specific contactless payment terminals and can work with Visas PayWave, MasterCard PayPass and American Express Pay terminals.
This mobile payment service is meant to allow these listed Apple mobile devices make payments at retail and online checkout.The long term goal is to see it digitise and replace the credit or debit magnetic stripe card transaction at credit card terminals.
This service also enjoys high security levels because when you are using Apple Pay in a store, restaurant or other merchant outlets, cashiers will no longer see your name, credit card number or security code. Apple does not collect your purchase history which makes it impossible to know what you bought, where you bought it or how much you paid for it. If your iPhone is lost or stolen, you can use “Find My iPhone” to quickly suspend payments. All this will contribute to reducing fraud.
Apple Pay is truly a technology game changer.