Apple hasn’t included NFC in there iPhone’s while Google has pushed for mobile payments with NFC from some time. Apple is looking to kill the wallet with Apple Pay. “Our vision is to replace this [traditional system],” CEO Tim Cook said, “and we’re going to start by focusing on payment.” The system turns the iPhone 6 and iPhone 6 Plus into a mobile payments terminal, using Touch ID for authentication.
The new feature is built into both the iPhone 6 and iPhone 6 Plus and uses NFC, Touch ID and a Secure Element chip to keep that precious info under lock and key. So how does it work? Well, you add a card to your iTunes account which then adds it to Passport. From there, you can suspend payments on the phone if your card gets lost or stolen without the need to make a phone call. In terms of security, Apple doesn’t know what you’re buying, and cashiers won’t even see your name. Instead, a one-time payment number and a dynamic security code complete the transactions.
At launch, American Express, Mastercard and Visa are all on board in the US with a load of banks opting in as well. As far as retail is concerned, Apple Stores, Bloomingdale’s, Macy’s, Walgreens, Subway, McDonald’s and Whole Foods will all allow you to pay for goods with your brand new iPhone.
Eating unhealthy got super easy with the payment system working at Mcdonalds. Now thinking about a digital wallet, you have to ask when the phone dies what do you do? Tell us in the comments below if you’ll trust Apple with your credit cards when they couldn’t even protect your photos in iCloud.