Apple Pay: everything you need to know

Do you want to know everything about Apple’s new payment system? Here you have it: everything you need to know about Apple Pay. Apple Pay is here and, like everything Apple does, promises a paradigm shift. The truth is that mobile payments promise to be a trend this year and those that come. In this post, we tell you all about Apple Pay: what it is, how it works, who are its rivals … Attentive we started.

What is Apple Pay?

It is a new payment system through mobile, or to be more precise, our Apple ID. This nuance is more important than it seems because what it means is that with Apple Pay we can make our payments in retail and physical establishments of all kinds using our phone, but also other devices. Let’s say payment information is not linked to a specific terminal, but a user.

How does Apple Pay work?

The first thing the user must do to use Apple Pay is to link one or more bank cards to their Apple Wallet. From that moment, payment with your account will be available.It turns out that, after many years of “renewing” of NFC technology, since Cupertino, they have decided to incorporate it. But they do it in their way and limit the use essentially to this new payment system. The NFC or Near Field Communication is a technology that allows communication between two devices closed to each other. In this case, the phone, tablet or smartwatch and the POS. To give you an idea, it is practically the same as with contactless credit cards, which do not require you to enter them in the dataphone to use them. It would be quite unreliable for anyone to have access to our bank account just by bringing a POS to our pocket, so the second level of security is established. Just as contactless bank cards force us to enter the pin to close the transaction, Apple Pay uses the terminal’s fingerprint reader for confirmation. But it does so automatically when the phone passes through the terminal of the point of sale.

What devices are compatible with Apple Pay?

  • All iPhone smartphones from model 6, which are those with an NFC chip.
  • The tablets are more limited. iPad Mini 3 and iPad Air 2, although they do not have NFC, they do allow In-App payments using a chip called SE that secures transactions.
  • All Apple Watch models allow the use of Apple Pay by pairing with the phone. They do not require the use of the Touch ID and just press the side button to confirm the operation.

How is Apple Pay configured?

In theory, it is very simple: you just have to access Apple Wallet. There you will see a banner that encourages you to enter the bank card. If you access the verification process, you can easily scan your data by taking a simple photo, which will save you typing the numbers, although if you prefer you can type them by hand. After checking that the data is OK, just enter the CVV and that’s it. At the moment, Apple Pay is not available for all cards or banks, so you can only use it if your card is issued by:

  • American express
  • Santander Bank (Master Card)
  • Boon by Wirecard
  • Edenred (Restaurant Tickets)
  • Carrefour financial services

The forecast is that this list is increasing, but the truth is that at the moment it is what there is. If you do not want to change banks to Santander, which is the one with the exclusivity, check out Boon Wiredcard virtual cards, they can be a good alternative.

How much does Apple Pay charge?

This payment system is free for users, although it charges a commission to the banks of 0.15% per transaction, arguing that the payment is much safer and fraud is reduced thanks to biometric controls.

As you can imagine, this does not make banking entities too happy, which may delay their global market penetration.

Can you pay online with Apple Pay?

Well yes, you can. But here we also encounter certain restrictions. We must differentiate between In-App purchases, which are those made within an application and only require the use of the Touch ID, and those made in a browser.

If we consider incorporating this means of payment into our eCommerce, you should know that it is only compatible with Safari, the browser native to Apple’s operating system.

To pay online with Apple Pay using an iPhone or an iPad, you have to look for the corresponding button and use the fingerprint reader just like in purchases within an app.

If the user uses a Mac computer, it will depend on whether it is a new one (which already includes Touch ID) or an earlier model.

Those who have the latest technology can buy practically the same as iPhone / iPad users. Owners of old devices have to have their iCloud account open and Bluetooth connected to use the Touch ID of an iPhone or iPad.

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