Apple Pay

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The new epoch of completely digitalized money has arrived with the new enigmatic concept of Apple Pay. The mobile payment system is something Android users have been anxiously waiting for and is something they have not experienced ever. Apple comes with this revolutionary idea to enthral the minds of Android users. The Apple iPhone 6 and Apple Watch comes with this exclusive feature that makes mobile payment very secure and makes it easy to make card payments at check out registers.

Apple pay comes with the motto:

Better Security for Merchants, Better privacy for Customers


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The best way to understand the concept of Apple Pay is to learn about how the process runs.

  • Buy an iPhone6 or 6 Plus as these are the two phones that support Apple Pay. Apple Pay works with two new pieces of hardware; NFC Chipset and secure element.
  • Load your new phone with the picture of your credit card or approving the account if you have one already in your Apple Account Store.
  • iphone while scanning the number from your card mediates a connection to the bank that is associated with your card which then provides a Device Account Number (DAC).
  • The above process is known as Tokenization which reduces or eliminates the legacy systems updating procedure without exposing your private number.
  • Tokenization works for both offline swiping system when the number is encrypted , sends it back for the token and then provides it to the merchant for refund or tracking, as well as for online payments.
  • In both the cases there are exposure points
  • In swiping terminals the numbers are still exposed, in online it is exposed to attack on the computer you use to enter it from, the network you are connected to and the payment side.
  • The DAC is then stored into your secure element.
  • Now while making transaction you just hold your touch phone in front of the terminal and approve with your fingerprint. The DAC is used to make the payment.

Apple has entered into partnership with many banks issuing credit card system to their customers. Each of these banks are responsible for taking into account the number as you scan your credit card and provide you with the DAC.

Apple Pay is a unique concept that ensures security and tremendously fine usability. Apple is different from others in the fact that it highly secures your account from even the merchants. A must try for consumers keen to have a secured transaction business.

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