Customers will start making payments using Apple Pay October 20, when Apple Pay launches the service to the public in a move expcted to offer an easy, secure and private way to pay.
According to Eddy Cue, Apple’s senior vice president of Internet Software and Services,“The reaction to Apple Pay has been amazing. We continue to add more Apple Pay ready banks, credit card companies and merchants, and think our users will love paying with Apple Pay.”
Apple Pay promises not to collect any personal transaction information nor the buyer’s purchase history from wherever they shop. The firm says actual card numbers are not stored on the device, instead, a unique Device Account Number is created, encrypted and stored in the Secure Element of the device and is walled off from iOS and not backed up to iCloud®.
The service supports credit and debit cards from American Express, MasterCard and Visa and cards from Bank of America, Capital One Bank, Chase, Citi, Wells Fargo. The firm says over 500 new banks have signed on to Apple Pay to allow customers make purchases in stores and within apps.
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IMG:Mashable
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