Apple Pay is the new feature of making secure payments any where you make purchases. It is all possible with new Apple iOS 8 which is launched with Apple iPhone 6. Soon the same OS is coming to the Apple iDevices starting from 17th of September. Apple Pay works with only iPhone 6 and iPhone 6 plus because of its powerful NFC antenna design which is actually a dedicated chip and this is a security feature of Track ID.
Apple has already tied up with the main three payment networks, the American Express, Visa and Master Card. For making the secure payment with Track ID you need to first get it equipped with the payment details in your iTunes Account. Just add a Card to the iTunes Account, and then Apple Pay will generate a new dynamic security code which will replace th static security code from the back of the card. Then the user have to enter their Cards by clicking it as a photo and then have to add to the Apple Passport’s service, after all this you are good to go.
Apple Pay system also works with the Apple Watch, a Device Account Number is assigned and then securely stored in the secure element on your iPhone or Apple Watch. Whenever you make a transaction, it is overlooked by an one-time unique number which makes the use of your Device Account Number and it does not use the security code which is given on the back of your credit card. All your transactions are secured with the Apple as it creates the Dynamic Security code which approve all the transactions.
Many US retailers are now supporting the Apple Pay feature including Disney Store and Walt Disney World Resort, McDonald’s, Macy’s, Bloomingdale’s, and many other retailers and the numbers are up and rising for getting the support to the retailers. Apple Pay is just as secured as the any other payment window available. Apple also profess that they never save any transactions as the transaction is always between a customer, the merchant and the bank. You can also cancel the payment tool with Find My iPhone when your iPhone is stolen or lost. So everything stays always secured.
The Apple Pay API will be available for the developers as they can include their apps with the Apple Pay payment gateway.