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CNET News - Apple turns iPhone 6 into mobile wallet with Apple Pay

2014-09-09
we've created an entirely new payment process and we call it Apple pay and I'd like to show you just how fast and just how easy it is okay your total is 20 370 that's that maybe would you like to see it one more time just in case you may have blinked and missed it here it is that is Apple pay and to tell you more about it I'd like to invite Eddy Cue to the stage Eddy thanks Sam it's great to be here this morning now Apple pay is built into every iPhone 6 and 6-plus and we've got a groundbreaking NFC radio antenna built across the top now NFC is the standard for all contactless payments now you also have the convenience and security of touch ID and we've got a new chip called the secure element and it's built into every iPhone 6 and it stores all of your payment information encrypted and securely you can also see all of your credit cards on passbook now Apple pay is easy it's secure and it's private let's get started with how easy it is now we have hundreds of millions of credit cards and debit cards from customers in their iTunes store accounts when they get a new iPhone 6 they can just say use the card on file but it's also easy to add a new card you use your iPhone iSight camera we take a picture of the card gather all the information go to your bank and verify that that's your card and we add it right to passbook and now with just a touch you've paid it's that fast it's that easy and we've also integrated security throughout both the hardware and software in a way that only Apple can and each time you pay we use a one-time payment number along with a dynamic security code so you no longer have the static code in the back of your plastic card and if your iPhone is lost or stolen you can use Find My iPhone and suspend all of the payments from that device Apple pay it comes with every iPhone 6 and 6-plus we're launching in the US starting next month it'll be available as a free up date to iOS 8 and we're working hard to bring Apple pay to even more countries and that's Apple pay thank you
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