“Your iPhone or Apple Watch must be switched on to use it to travel”, says TfL.
Apple Pay finally launched in the UK this week after a successful roll-out across the United States. Early merchants include BP, McDonald’s, Starbucks and Transport for London. Security issues are overcome by the fact that card numbers aren’t sent anywhere – Apple Pay uses a substitute “token” which is matched to your card number by your bank. The company plans to help its key bank clients and Apple co-operate.
Misjudging this latter point could see users hit with a penalty charge for an incomplete journey, with TfL noting that users might receive payment notifications on all their devices, regardless of which one was used for touching in or out. This could help Apple Pay build a foundation in mobile commerce in the region.
In some apps, you’ll be able to select Apple Pay when checking out.
There are many different retailers that are now accepting Apple Pay as a form of payment. This will give patrons the ability to settle their bills using MyCheck’s iOS app or one of their partners’ apps. There are a few questions we need to ask about this recent trend in contactless, portable tech-based payment technologies, namely: are they trustworthy? Visa Europe, among other banking and payments organisations, is backing the launch.
This story was originally sent to thousands of professionals in the payments industry in this morning’s PAYMENTS INSIDER newsletter.
Although not restricted to one brand of smartphone, you do have to be an EE customer to join the Cash on Tap fun.
Apple’s biggest hurdle – transaction value limits – will be overcome soon. Apple realized this while developing the Apple Pay system, and the multiple layers of protection it has incorporated into the platform reduce the chance of credit card fraud considerably.
Again offering fast, secure payments, your cards are recreated in digital wallet form, letting you authorise transactions with the biometric password at the end of your finger. While the usage of Apple Pay is increasing faster than predicted, there’s still a long way to go before plastic cards become mainstream. This makes the process of changing the default card on bPay more complicated than on Apple Pay. “It’s also important that people don’t let anyone else store their fingerprints on the device, to ensure that transactions can only be authorised by the owner of the device”, he added.
The limited spend of up to £20 is similar to that of contactless cards.