Apple Pay is Apple’s cashless mobile payment service, used on iPhone, Apple Watch, iPad, and Mac. Apple Pay replaces the chip card of the visa card when paying through POS machines at points of sale.
Apple Pay payment technology uses a wireless communication method, using Apple devices to connect NFC with payment machines without using a bank card. This helps limit the risk of revealing card information, and at the same time brings convenience to users.
As of now, Apple Pay is used with cards issued in about 80 countries and territories. In Asia, Apple Pay is available in Singapore, Taiwan (China), Japan, Hong Kong, China… Many countries in the Americas and Europe have also accepted Apple Pay.
Apple Pay is built-in to Apple devices, users do not have to install it. This increases convenience and avoids the user having to download a fraudulent app.
Using Apple Pay is pretty straightforward. Users just need to add a credit or debit card to the Wallet app available on iPhone. According to Apple, customers can still earn points and other benefits from the card when using Apple Pay.
Not only is it used to pay at acceptance points, Apple Pay is also used on iOS applications and on many websites. When paying through Apple’s Safari browser, Apple Pay users can pay quickly without having to fill in card information. All the user needs to do is authenticate the payment with Touch ID, Face ID or a password.
According to Statistics, Apple Pay currently has 507 million global users, and has the ability to reach about 48% of iPhone users worldwide. According to the company’s survey, 5 out of 10 US respondents said they used Apple Pay at a store or restaurant between August 2020 and August 2021.
Source: Vietnam Insider