14 DAY TRIAL // At yesterday’s special event, Apple confirmed that its all-new payments system was rolling out on Monday, October 20, for all iOS 8.1 customers. Early next year, Apple Watch users will jump on the Apple Pay bandwagon as well.
Starting on Monday, customers will be able to make payments “with the touch of a finger,” by using their NFC-enabled devices with iOS 8.1 at locations that have signed with Apple to support Apple Pay, as well as in Apple Retail stores.
Apple Pay and your security
According to the press release dished out by Apple yesterday, Apple Pay doesn’t pose any risks. First of all, it’s designed not to collect any transaction information that can be tied to you: “...payment transactions are between the user, the merchant and the user’s bank,” says the company.
“Apple doesn’t collect your purchase history, so when you are shopping in a store or restaurant we don’t know what you bought, where you bought it or how much you paid for it,” it adds. “Actual card numbers are not stored on the device, instead, a unique Device Account Number is created, encrypted and stored in the Secure Element of the device. The Device Account Number in the Secure Element is walled off from iOS and not backed up to iCloud,” Apple stresses.
The service supports both credit and debit cards from American Express, MasterCard, and Visa.
“In addition to American Express, Bank of America, Capital One Bank, Chase, Citi, Wells Fargo and others, who announced support in September, more than 500 new banks from across the country have signed on to Apple Pay,” Apple confirms.
Support, partners, and availability
As you’d expect, the United States will be the first to start using Apple Pay. Currently, only the iPhone 6 and iPhone 6 Plus will support shopping in stores because they’re the only iDevices with NFC antennas on them. For shopping within apps and online, Apple Pay will also work with iPad Air 2 and iPad mini 3. Starting next year, Apple Watch will also be able to use Apple Pay.
Leading retailers who support Apple Pay include: Babies'R'Us, BJ’s Wholesale Club, Bloomingdale’s, Chevron and Texaco, ExtraMile, Disney Store, Foot Locker, Macy’s, McDonald’s, Nike, Office Depot, Panera Bread, RadioShack, SUBWAY, Toys'R'Us, Walgreens, and dozens others.
Later this year, Anthropologie, Free People, Sephora, Staples, Urban Outfitters, Walt Disney Parks and Resorts are also planning to support the payment service.
Apple also names a few apps that boast the ability to use Apple Pay at launch, including the company’s own Apple Store app and third-party titles like Chairish, Fancy, Groupon, HotelTonight, Houzz, Instacart, Lyft, OpenTable, Panera Bread, Spring, Staples, Target, and Uber. Many others are coming with their own support by the end of the year.