IS APPLE PAY THE WAY?

What is Apple Pay?

Apple Pay is a new system for iPhones that lets you pay for things by tapping an iPhone or Apple Watch against contactless card readers. To do this, you’ll need to assign one or more credit or debit cards to your iPhone or Apple Watch, a process that Apple promises is secure. Having arrived in the US in October of last year, the system is now up and running in the UK.

iPhone 6 users will be able to use their handsets to pay for things using contactless along with those with the latest iPad Air 2 or iPad mini 3.

Apple Pay works by users holding their phones close to a contactless reader while keeping a finger on the Touch ID fingerprint scanner to authorise a payment. Like with contactless bank cards, the current spending limit is £20 but this is set to increase to £30 in September. More than 250,000 retailers have signed up to Apple Pay, which also works with the Apple Watch.

Apple said privacy and security is a key part of Pay and when a credit or debit card is added, the actual card numbers are not stored on the device, or Apple’s servers.
Instead, each transaction is completed with a “one-time unique, dynamic security code”.

Seeing as the contactless cards have been a success so far, whats to say that this Apple Pay cant?