Apple Pay wins consumers’ hearts with focus on security

“Tim Cook has declared that the American government would accept transactions through Apple’s mobile payment system, Apple Pay,” reports.droy writes for GuruFocus. “Cook spoke at the Cyber Security and Consumer Protection Summit at Stanford University in Palo Alto, California.”

“He spoke about Apple Pay which has successfully built a trustworthy image in the eyes of the US government, making them consider the usage of Apple Pay for various transactions like admission fees for US national parks, etc.,” reports.droy writes. “Cook took advantage of the opportunity and also talked about company’s mobile payment system’s take on privacy and security… ‘We have a straightforward business model that does not include selling personal data,’ Mr.Cook told the audience.”

“In a way, the company also criticized its prime competitor Google,” reports.droy writes. “Google is currently facing a ruling from the EU court regarding privacy matters. Google utilizes the information of the users and other personal data for audience targeted advertisements.”

Read more in the full article here.

Related articles:
Apple CEO Tim Cook’s address at White House Cybersecurity Summit – February 15, 2015
Apple’s Tim Cook warns of ‘dire consequences’ of sacrificing privacy for security – February 13, 2015
Apple Pay is coming to U.S. government agencies in September – February 13, 2015


    1. It works by being paired with the iPhone that has been logged into via touch ID. While paired this way the watch acts as a proxy to the identified iPhone. If the the watch leave proximity to the identified iPhone (or perhaps simply removed from one’s wrist), it can no longer be used for Apple Pay. To my understanding, this pairing and ID’ing takes place automatically in the background. So, I can use the watch for Apple Pay on my accounts during the day, and then loan the watch to my son at night to use with his iPhone and credit cards. Same watch automatically pairing to two separate iPhones, IDs and credit card accounts.

      There are not a lot of details yet about this, and I could be wrong. If, once paired to the iPhone, and proximity is the only requirement for the watch to conduct Apple Pay transactions, I suppose someone could rob you of both your iPhone and Watch to go on a buying spree. Don’t know.

      1. That would be great if it can work with two iPhones.

        As to both being stolen, then the thief would need your fingerprint to activate and pair again.
        I might be wrong but I believe some version of this is what happens.

      2. I suspect the process is this: you wake up in the morning, put on your Apple Watch, enter your security PIN to activate the link to your Touch ID iPhone with Apple Pay set up on it, then wave your wrist at retail Apple Pay compatible devices to complete sales. As long as the Apple Watch’s heart rate sensor continues to monitor your heart beat, all is good. Remove the watch from your wrist and you break the link, and have to start over.

        I haven’t read anything about being able to use the Apple Watch with multiple iPhones, so I doubt your son will be able to use it for his own Apple Pay account. And since I suspect the link is heart sensor based, rather than proximity based, I also don’t think you’ll be able to loan your watch to your son in the evening to use your iPhone’s Apple Pay account, without also giving him your PIN as well to reestablish the link. Of course, once you do that, your iPhone will also be mixing your biometrics on your iPhone with your son’s.

        1. Now that you mention it, I do recall the heartbeat sensor being involved. That must be where I had the memory that removing the watch from your wrist would disable Apple Pay. As for using with multiple iPhones, I don’t see why not. If the watch is disconnected from one phone, and then fired up again with a new associated ID, why not? We’ll see soon enough.

    2. Apparently you have to enter your secure code when you put it on your wrist. The watch senses your warm wrist so nobody else can activate it unless they know your security code.

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