Credit and debit cards may soon be a back seat to the latest and hottest form of payment to date: the mobile wallet. In October 2014, Apple has cornered the mobile wallet market by introducing Apple Pay, a new application that experts predict will be a huge success.
Born of Near Field Communication (NFC) technology, Apple Pay lets iPhone and iPad owners use their devices to pay for items in stores. Let's say you visit your local supermarket, pick up a bunch of bananas, and press your iDevice to the scanner in the way of check-out. Both devices "talk" to each other by magnetic field induction. The subject of their discussion, of course, your transaction banana.
Indeed, Apple Pay is a shiny new option for owners of iOS 8.1 or later. How do you use Apple Pay, and how would he in terms of convenience and safety
How to use Apple Pay :? What you need to know
Apple Pay is a snap to set up. Just open the Passbook on your iOS device, and add your debit or credit card card. Most large banks participate with Apple Pay, but if you are not sure that your bank is compatible, visit the Apple website to find out. If you already have a card on file with iTunes, you can easily select your default card for Apple Pay.
When it comes time to pay for your goods, just hold your device near the point of sale. Credit information / debit you have pre-programmed into your phone automatically appear on your screen. With the sliding your finger, you agree, bag your goods, and continue on your way.
The biggest problem you might encounter is not Apple itself pay, but all confused employees who do not know about the application again. Pay Apple just launched, and many cashiers are unfamiliar with it. Certainly, Apple Pay is not hard to understand, but there will be a learning curve.
Apple vs. Convenience Pay Your security
Undoubtedly, Apple Pay is a convenient way for iOS users to pay for goods. No longer do you need to dig through your purse or wallet for your card. If you left your card at home, no sweat. pre-recorded information from your iDevice's all you need.
But is secure Apple Pay? On the positive side, Apple Pay assigns a string of unique-yet-random data for each transaction, so that cashiers, computer systems and other prying eyes never see your credit card data. The string of random data, called "token" expires after the complete transaction and can not be used again. This function code secret security is called "tokenization," and it is a concept that 22 of the largest banks in the world approves as a way to protect against theft and fraud.
tokenization makes Apple Pay safer than any credit card, including magnetic stripe and chip cards and PIN-advanced. But if you lose your phone, a stranger could make off with all your money? Apple offers an application to this worrying situation. It is called Find My iPhone, and it helps you find your missing device on a map and remotely lock so outsiders can not make purchases with your money.
Certainly, the Find My iPhone app is a nice safety net. But according to anecdotal evidence from the Apple support forums, some owners have had their iDevice phones / tablets held for "ransom" by unsavory characters who hacked usernames / passwords and connected owners their iCloud accounts. If this happens, change your password ASAP Apple, and visit the website Apple support for further instructions.
Verification Competition
Apple Pay is not the only competitor in the world of mobile wallets. Here's a look at its main competitors Apple and pay what you can expect from each of them:
- PayPal Mobile : Works for Android and iPhone but only in the PayPal-enabled terminals. Uses wireless technology instead of NFC to communicate. Users do not enter credit information / debit card; instead, they link their device to a PayPal account
- Wallet :. The oldest mobile wallet, the NFC holds credit card and gift card multiple account numbers at once. Requires the entry of a PIN code at checkout. Both iPhone and Android owners can use this technology
- LoopWallet :. App owners can pay with credit, gift, and loyalty cards by scanning a load carrier or a key file at the sales terminal. Works for Android 4.2 and above and iOS 7 and above. Available to 0 percent of all POS terminals, LoopWallet was the mobile wallet as accessible as of September 2014.
Each mobile wallet has its benefits, but experts predict Apple Pay will eventually outweigh them all. The security measures proposed by Apple are incomparable to anything else on the market, and the name of Apple's confidence perhaps even more than Google. In addition, more than 800 million people holding iTunes accounts, which means their credit card information is already connected and ready for use.
Safety Tips for mobile payment methods
We know that digital portfolios are safer than plastic, but it does not mean it is okay to be careless again you get one. Keep the following guidelines:
- Use a credit card rather than a debit card with your mobile wallet. If something goes wrong, your credit card company will absorb the cost. This may not always be the case with small banks that issue debit cards.
- Add as few cards as possible to your mobile wallet. This way, if something goes wrong, you have fewer opportunities to continue to correct the problem.
- Watch your purchases. You can view your latest Apple Pay transactions in the Apple Pay Transaction folder. Keep in mind that these data will not be stored anywhere else.
- Use Apple Pay Touch ID with dry fingers. The biometric fingerprint scan will generally not work if your fingers are wet.
Apple Pay is still in beta, and we do not yet know how it will be. The good news is that it is a more secure form of payment than anything we've seen. The bad news: Nothing is perfect. You still have to take steps to protect yourself, and security risks exist.
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