“Starting next month consumers who buy Apple’s latest iPhone — the iPhone 6 or 6 Plus — will be able to use their phones instead of physical credit or debit cards for purchases,” Bernice Napach reports for Yahoo Finance. “American Express, Visa, MasterCard and six of the biggest U.S. banks have signed up to support the new payment system along with 220,000 retail outlets, including McDonald’s, Bloomingdales and Macy’s.”
“Sherri Haymond who heads the digital channel management group at MasterCard, tells Yahoo Finance that the technology is ‘really, really safe’ because it uses “EMV security which gives each transaction a code number that only MasterCard or the issuer can unlock,” Napach reports. “In addition, she says, MasterCard, Visa and American Express will have the ability to shut off the application immediately, if, say, a consumer loses their phone.”
Read more in the full article here.
MacDailyNews Take: Google’s hating life. 🙂
Related articles:
Authorize.Net announces support for Apple Pay – September 11, 2014
Apple Pay’s myriad advantages over the $300 million Google Wallet flop – September 11, 2014
Apple Pay may boost sales of larger iPhones, hurt Android phone sales – September 11, 2014
Why Apple Pay will hurt PayPal – September 10, 2014
Apple Pay will demolish the barrier between online and offline shopping – September 10, 2014
Disney CFO: Apple Pay is a huge advantage – September 10, 2014
Pacific Crest: Visa, MasterCard, American Express boosted by Apple Pay – September 10, 2014
Apple to rake in fees from banks with Apple Pay mobile payments platform – September 10, 2014
Visa teams with Apple on Apple Pay mobile payments platform – September 10, 2014
MasterCard partners with Apple to integrate revolutionary Apple Pay – September 10, 2014
TSYS supports Apple Pay – September 10, 2014
Apple announces Apple Pay mobile payments – September 9, 2014