Apple Pay Basics

app watcApple Pay went live earlier this week on the iPhone 6 and will be available next year when the Apple Watch hits the market.

There are over 220,000 stores now accepting contactless payments through Apple Pay including Chevron, American Eagle, Bloomingdales, Disney Store, Sports Authority, Walgreens, and Whole Foods.

Major credit card companies such as American Express, Visa, and MasterCard all support the new payment system that is activated with Touch ID on the device.

Apple Pay works with majority of the largest credit and debit cards from the top U.S. banks.

Whoever issues your card, in most cases your bank, has to support Apple Pay for it to work with transactions.

Several large financial institutions including Chase, Citi, Capital One, Bank of America, Wells Fargo support Apple Pay.

Later this year, PNC, Barclaycard,  US Bank, USAA, and Navy Federal Credit Union will be available on Apple Pay.

You can store multiple cards in Apple Pay when you add your cards to Passbook but one card is established as the primary default card and it is easy to change the card you want to use for transactions.

Similar to Google Wallet, to add a new card on iPhone, simply use your iSight camera to enter your card information or else type it in manually.

You can also use Apple Pay to pay within apps. Some of the merchants already using the apps feature are Target, Panera, Groupon, Open Table, Uber, Lyft, and Chairish.

There are more apps coming this year including Starbucks, Disney Store, Sephora, Ticketmaster, Stubhub, and Jackthreads.

The iPad Air 2 and Mini 3 will work using Apple Pay apps.

The Near Field Communication antenna in iPhone 6 carries the transaction after holding your iPhone near the contactless reader with your finger on Touch ID.  Your payments are kept private. Apple Pay doesn’t store the details of your transactions, although the most recent purchases are kept in Passbook for your convenience.

You never have to show your credit or debit card, reveal your name, card number, or security code to the cashier when you pay for a transaction.

Instead of using your actual credit and debit card numbers when you add your card to Passbook, a device account number is assigned, encrypted, and securely stored in a dedicated chip in the iPhone.

You can also use Apple Pay to return items you bought through Apple Pay.

-Johnathan Schweitzer


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