Apple Pay benefits 2

It turns out the rumors were true, Apple has been putting together a new mobile payment service, and it introduced it on stage today as “Apple Pay.” The service involves adding your credit cards to Passbook, and waiving your iPhone in front of what looks like an NFC reader to pay for goods and services in-store.

Apple says that security and privacy are very integral to Apple Pay. It doesn’t store your credit card numbers, nor does it transfer them to the merchant, and it doesn’t log what you buy or how much you pay for it. It simply creates a complex number for your card, and uses a one-time code for when you make payments.

Apple Pay in action

The service is starting in the United States with support from AmericanExpress, MasterCard, Visa and 6 major banks. As for stores, Apple says that more than 220,000 retailers will work with Apple Pay including Macy’s, Bloomingdales, Wallgreens, Duane Reade, Subway, and McDonalds.

Online, Apple offers one-touch check out so that you don’t have to enter your CC information, billing address, etc. It will work in specific shopping apps initially, like Starbucks, GroupOn, Uber, and OpenTable. Major League Baseball is onboard too, and will allow you to buy tickets with Apple Pay.

apple pay

Apple Pay will be available in the U.S. beginning in October, but Apple says that it is working hard to take the service worldwide in the “near future.” It will be compatible with only newer model iPhones: iPhone 6, iPhone 6 Plus, and Apple Watch (which will require an iPhone for most of its functionality).

  • Vatsal Manot

    Is it just me, or does Tim sound high?

    • Maxim∑

      he sounds excited

      • Ian Leon

        hes getting better at presentations. Each one of his keynotes shows a bit of improvement on his delivery, and excitement. By the time iOS X comes out he will be cartwheeling into the stage.

      • Maxim∑

        yeah I agree, before he sounded like a robot

  • SkyFall

    NFC finally.

    • R4

      NFC finally someone has come up with a proper use for it***. I had an android phone with NFC for half a year… I used it once.

      • SkyFall

        Exactly.

      • Mathieu Reid

        You know Google Wallet does exacly the same thing ?

      • R4

        No lol, have you even used google wallet?

      • Domodo

        You should probably look it up then. I use it and so does everyone who has an Android phone and uses it for mobile payments.

      • UmangOnline

        Good doesn’t intelligently create one time codes. It doesn’t appeal to the masses. Not even close to Apple Pay just after the announcement itself

      • Louie

        How many non tech people do you know that use NFC payments Google wallet? Now think of how many will use it with Apple.

      • Yujin

        You mean the people who actually spend money and have money to spend?

      • Yujin

        The thing is that NFC is not popular in many places and now that apple supports it, you should be thankful since your old android will be useful in more places (just hope you don’t get hacked)

      • N&LH

        Why Google wallet did not revolutionized Mobile Payment system?

      • Jack Wong

        I did not know we can use Google wallet as a credit card in Mcdonalds?!

      • Judge

        Because 1/2 the stores dont maintain it. Stores have to to MAINTAIN it or have it on

  • Martin 

    Finally I will wave good bye to my wallet 🙂

  • Domodo

    Nice job Apple for finally jumping on the bandwagon. The idea is what, 2 years old?

    • Jason Jones

      The idea may be two years old, but it took that long for someone to finally get it right.

      • Domodo

        Because, obviously, announcing it proves they’ve done it right… You can’t know this will “take off”, plus, there are plenty of places for you to pay with your phone.

      • Bob

        It’s Apple, it will take off.

      • Domodo

        Of course. Just like Ping.

      • Jason Jones

        Seeing as they’ve worked deals with 3 of the 4 major credit card providers (which is three more than google) and deals with several retailers (again, more than google), I’d say odds are pretty damned good it’ll take off.
        Oh yeah, let’s not forget PayPal and square too. Android just “let’s you use the app.”

      • Domodo

        Google Wallet > PayPal But hey that’s none of my business.

      • Jon Nguy

        When did Paypal join into this conversation?

    • Judge

      I’m glad that people are seeing that this has been out for a while. Apple is late to the party but they might have the pull to get it right

    • and if the Icloud is any indication, your money will locked down and safe, jst like Jlaw’s pictures were.

      • Jon Nguy

        No credit card information is saved in iCloud or any backups, I believe.
        You should check your facts before you try to troll and sound like an idiot.

      • my point being their security sucks, idiot.

      • Tobias9413

        Not really though. Apple gives people the option to do two step verification for iCloud. People choose not too though. The way they leaked those pics was more likely done by “hacking” the celebrities emails and using that for iCloud access. iCloud it self was never “hacked”

      • never said it was hacked, and… Apple’s email security allows for unlimited guesses of the person’s “secret” question.

  • Fevostone

    Some as to pay for this streaming be absolute dog shit!!!!!

  • jocastro

    ………………………….. is all you get apple

  • diggitydang

    Psyched me out when he introduced a new category, “the wwwwwwwallet”. Thought he was going to say “wwwwwwwatch”… hahahah…

  • Onyxus_Music

    Smartwatch? This is a GeniusWatch!

  • Guest

    Apple watch its official

  • motti

    Apple about to announce the iwatch!!!!!!’

  • SkyFall

    Apple watch is official

  • SkyFall

    heres another pic

  • @dongiuj

    7 year old tech. Apple, so far your “new” product is full of BS and you’re charging a premium for it. So far on every article on iDB about the iPhone 6 has received negative comments.
    TERRIBLE….

    • Louie

      such as?

  • August Ebbesen

    Breaking news: Hackers stole millions from the new payment service

    • jocastro

      this just in……Tim cooked his last meal and is booted from apple corporation and apple made kermit the frog CEO

  • Dave

    Great idea but the other phone are going to have it soon.

    • philip Mills

      still no iTunes Radio in the uk wtf

  • Judge

    I was glad to hear about ApplePay but I think a little more research needs to be done. Down here in Central FL the only stores with NFC are Walgreens (90% of the times the NFC part is broken) Circle K (works most of the time) 7-11 (Works most of the time) get Walmart or Target on board and we will talk. The key is getting the retailers to MAINTAIN their NFC equipment if you cant do that it will never work.

    If they can get this done Goggle will piggyback on this for sure

    • Tobias9413

      I believe Target is on board. About a month ago we got new card readers like the ones shown on the Apple pay review videos that iDB posted.

  • Micaiah Martin

    Yes! Feed the masses with this so that banks can keep even more records! Wahoo!

    • Tobias9413

      More records of what??

      • Micaiah Martin

        money my friend. More records of money transactions. The FED’s love those!

  • Daniel

    how i can buy this??