CNET News - Apple Pay debuts and aims to replace your wallet
CNET News - Apple Pay debuts and aims to replace your wallet
2014-10-20
with the press of a fingerprint owners
of the new iPhone 6 or 6 plus can pay at
thousands of participating stores with
just their phones we've got many of the
largest retailers in the country
supporting us Apple launched its version
of a mobile wallet called Apple pay
using technology called near-field
communications or NFC we tried it out at
a San Francisco Whole Foods when you
bring your phone to the registers reader
it automatically holds up one of your
store credit cards simply verify with
your fingerprint you pay and then you
receive a message confirmation consumers
are still very concerned about using
their phones to pay for things I mean
the concept of like security on on those
devices is still like foreign to a lot
of people Apple says Apple pay is
totally secure because retailers do not
get your credit card information instead
a dynamic code is sent to your bank to
authenticate the purchase Apple is
joining other services that have
struggled to make mobile payments
mainstream like Google Wallet which
launched several years ago and uses
similar NFC technology on Android
devices PayPal is already available in
Apple and Android devices and relies on
a cellular connection customers Check
Into merchants and pay through the app a
little bit of the reluctance that we
have is our counter space is limited and
Google Wallet and Apple pay require a
device to tap on to which PayPal does
not PayPal is also putting its app on
smartwatches Apple has similar plans for
Apple pay when it launches its watch
early next year in San Francisco I'm
Kara Tsuboi cnet.com for CBS News
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