Apple Pay

From ElateWiki



About Apple Pay

Apple Pay is a mobile and digital wallet service provided by Apple Inc. On a selection of newer Apple devices, such as the Apple Watch, iPhone (6, 6 Plus, 6S, and 6S Plus, and iPad (iPad Air 2, iPad Pro and iPad Mini 3 and 4), the service allows users to make purchases in a simple and efficient manner. Through partnerships with MasterCard, Visa, and American Express, Apple Pay has been perfected. As explained below, the process is exceptionally flawless. A user simply initiates Apple Pay by the Touch ID, holds the device near the reader, and the payment is made. Boasting superior security, efficiency, and ease of use, Apple Pay is poised to impact both personal and corporate life. Below is a short introductory video for Apple Pay.


On September 9th, 2014, Apple CEO Tim Cook announced the news of the service at an Apple iPhone 6 event. Later, on October 20th, 2014, the service was released (In the UK, service was released on July 14th, 2015). Although momentum for mobile wallets was increasing prior to the release of Apple Pay, it is clear that Apple Pay has propelled the popularity of digital wallet services. Apple Pay has established itself as a clearcut model for rival technology manufacturers.

Currently, Apple is seeking to expand its territory by introducing Apple products and Apple Pay to more countries. This Fall, Apple introduced the 6s and 6s Plus (and thus, Apple Pay) to the following 40 countries:

Andorra, Austria, Belgium, Bosnia, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, Greece, Greenland, Hungary, Iceland, Ireland, Isle of Man, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Maldives, Mexico, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Taiwan, Bahrain, Jordan, Kuwait, Qatar, Saudi Arabia, United Arab Emirates, India, Malaysia, and Turkey

While Apple Pay has definitely been a success, Tim Cook and Apple are not satisfied. Apple has developed a reputation for always stretching the envelope of technology, and the company is continuing to research potential advancements for its products. Among the possible improvements is the development of Apple Pay into a money-exchange service. By doing this, Apple Pay would face off against the most popular money-exchange services, PayPal and Square cash. Certainly, this is a highly anticipated upgrade since Apple tends to generate a large ripple in any field that it pursues.

Setting Up The Service

To get started with Apple Pay, one must first set it up on his/her phone. This is a relatively painless process, but to assist with the setup, a step-by-step tutorial from Apple Insider is presented below:

How To Use

Once Apple Pay is setup on a device, the process is exceptionally user-friendly. The simple steps are as follows:

1. Initiate the service by double-tapping the Home button.

2. Access card information via Touch ID

3. Hold device near the electronic reader

That's all that it takes. It is quite simple and easy. Below is an informational video from The Verge that highlights the basic process of using Apple Pay, as well as providing additional information on the service.

Personal Applications

As a digital wallet, Apple Pay can have a significant impact on personal and corporate life. On the personal level, the service has many great features:

1. It provides users with the options of paying via iTunes Store account, debit card, or credit card.

2. It allows faster and easier payments within apps by simply paying via the Touch ID. The apps that support Apple Pay continue to grow. Among them is Target, AirBnB, Uber, Lyft, Groupon, Instacart, OpenTable, Panera Bread, Sephora, Spring, and Starbucks.

3. It keeps information safe and secure (purchases are not recorded by Apple). Each transaction is between you, your bank, and the merchant. Furthermore, if your iPhone is lost or stolen, you can disable the Apple Pay service by using the Find My iPhone app.

4. It is accepted in many locations, including large retailers, gas stations, taxi cabs, and individual candy machines.


Corporate Applications

Within the corporate world, the effects of Apple Pay can also be substantial. Because of the ease of use, the days of a "company card" could be over. With the service, employees can simply plug the card's information into Apple Pay. Furthermore, as a business, it is essential to stay current with technology. As previously mentioned, the security features of Apple Pay could be very beneficial to a business. When thousands of dollars are at stake, it's comforting to know that your employees' corporate cards are secure.

Although Apple Pay is only picking up momentum right now, in the future it is expected to be in most establishments, and serious implications could be due to businesses that fail to accept it. Currently, Apple Pay is accepted in numerous retailers. Some of the most prominent stores include:

American Eagle, Bloomingdale's, Champs Sports, Chevron, Coca-Cola, Disney Store, Firehouse Subs, Foot Locker, GameStop, Jamba Juice, Lego, Macy's, McDonalds, Office Depot, OfficeMax, Panera Brand, Nike, Pep Boys, RadioShack, Sephora, Sports Authority, Staples, Subway, Walgreens, and Whole Foods Market.



Clearly, as can be seen from the information above, Apple Pay is bound to have a significant impact on both personal and corporate life. It is simple to setup on a phone, easy to use in a store or online, and has advanced security settings that protect critical information. It's already accepted in many popular stores, as well as gas stations and vending machines, and it continues to reach more establishments. With the ambition to turn Apple Pay into a money-exchange service as well, there is no limit to the potential capabilities of the service. Apple Pay is the future of digital wallet services. As the company states, Apple Pay can be your wallet without your wallet.


"Apple Pay expected to go live in the U.K. on July 14th, 20+ transactions starting this fall". 9to5Mac. Retrieved July 12, 2015.

Gurman, Mark (July 4, 2015). "Apple Pay expected to go live in the U.K. on July 14th, £20+ transactions starting this fall". 9to5Mac. Retrieved July 12, 2015.

Jeffries, Adrianne (September 9, 2014). "Apple Pay allows you to pay at the counter with your iPhone 6". The Verge. Vox Media. Archived from the original on September 13, 2014. Retrieved September 13, 2014.