Why You Should Use ApplePay

Unless you’ve been living under a rock, you’ve probably heard of ApplePay. But unless you’re a nerd, you’re probably a little confused by what it is, how it works, and whether you should be using it or not. Hopefully, I can help you work through all of those things.

What is ApplePay?

ApplePay is simply a way to make a payment using your existing credit card accounts without having to use or reference the plastic card on a per transaction basis. You won’t have to get out your credit/debit card, swipe it, enter your PIN/ZIP, approve the transaction, and sign for it. Instead, you just hold your phone over the terminal, scan your fingerprint using TouchID, and stand in amazement at your own awesomeness.

What is ApplePay Not?

ApplePay is not a complete replacement for your credit/debit accounts. It works in tandem with them. ApplePay is NOT its own account. ApplePay has no monetary value to you or anyone else.

How Can That Be Secure?

This is probably the number 1 question I hear from people who have a basic grasp of ApplePay. Let me put you at ease — it is the most secure way you can make a card payment. You see, Apple doesn’t actually store your credit card number and transmit all of that info everytime you make a transaction.

Instead, when you first enter your information into ApplePay, it communicates with your financial institution to verify your identity and account. Immediately after that, the information you entered is wiped from Apple and your phone. From then on, every time you use ApplePay, your financial institution will provide the merchant with a one-time use, temporary credit card number. It will only work for that transaction.

So if someone with some super high tech gadgetry somehow manages to intercept the signal your phone is sending to the payment terminal, it would be outdated and completely useless. Your name, your credit card number, your expiration date, and your security code are all left out.

What If Someone Steals My Phone?

It wouldn’t do them much good unless they also stole your thumb. Even then, you could use your other nine fingers on any other device to easily disable your stolen iPhone.

Some Other Amazing Things

• You don’t have to unlock your phone to make a payment. As long as it is powered on, it’ll automatically awake when you hold it near a payment terminal.
• What about returning items at places that require you to show your card? Those merchants will be able to return as usual.
• When you finish a transaction, the amount and card you used displays on your screen as a sort of virtual receipt.
• You can use any amount of cards with ApplePay.
• Not every bank or financial institution works with ApplePay, but almost all major ones and many minor ones do.
• You must have an iPhone 6, iPhone 6 plus, or AppleWatch to use ApplePay.
• You can also use ApplePay to pay within certain iPhone apps.
• Not every store accepts it, but many are adding it. Places like Walgreens, Whole Foods, Chevron, Panera Bread, Macys, Subway, Disney and McDonalds accept it.
• Use the PassBook app to set it up or add additional cards.

So Use It

There you have it. It’s easy, secure, and available. Not only is it currently usable, it’s preferable. And the beauty of it is—the more people who use it, the more who’ll accept it.