Apple announces Apple Pay, an NFC payment feature for the iPhone 6 and Apple Watch
At its media event today, Apple has announced Apple Pay, a new NFC payment system for its iPhone 6 and iPhone 6 Plus smartphones and its upcoming Apple Watch. The service uses TouchID fingerprint recognition to authenticate payments. Apple Pay will launch in the US first in October with support for Mastercard, Visa, and American Express cards. When you add a credit card, the payment information is saved to the iPhone 6’s new Secure Element chip. Purchases will generate a one-time payment number. Retailers that have signed on to support Apple Pay include Macy’s, Walgreens, Staples, Subway, McDonald’s, Whole Foods and the Disney Store. Stripe…
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