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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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