Apple Pay Overview Updated July 8, 2016

Apple Pay

Apple Pay is Apple’s mobile payments solution that allows users to seamlessly use their phone to pay for purchases both in retail stores and in apps. The service was first introduced in 2014 and has been expanding to additional countries ever since then.

Currently, Apple Pay is available in Australia, Canada, Mainland China, Singapore, the United Kingdom, and the United States. Apple announced at its Worldwide Developer Conference that the service will be coming to Switzerland, France, and Hong Kong soon.

Apple Pay works in retail stores by simply holding your iPhone over a compatible checkout terminal and authenticating the purchase via Touch ID. Apple Pay is compatible with the iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, iPhone SE, and Apple Watch.

In apps, Apple Pay works by pulling in your card information and seamlessly allowing you to checkout using that card information. This prevents you from having to manually enter your card information every time you want to make a purchase. In addition to working with all of the iPhone models previously mentioned, Apple Pay in apps also works on the iPad Pro, iPad Air 2, iPad mini 3, and iPad mini 4.

In addition to working with debit and credit cards, Apple Pay also works with rewards cards and store cards. This means that you can add something like your Starbucks card, Walgreens Balance Rewards card, and more to the Wallet app to easily keep track of everything.

Apple Pay will also be supported on the Mac and on the web when iOS 10 and macOS Sierra launch to the public fall. You will soon be able to pull card information from Apple Pay and authenticate it on your Mac via Touch ID on your iPhone.

To set up Apple Pay on an iPhone, open the Wallet app on iOS 9 and tap the plus (+) icon in the top right corner to begin, then follow the prompts. To add a debit card to the Apple Watch, go to the Apple Watch app on iPhone and look for the Wallet & Apple Pay section, then Add Credit or Debit Card section.

Apple Pay is the dominant mobile payments solution, even forcing its biggest potential competitor to shutdown, and as the service continues to expand, it will only get better. View the full list of retailers and banks that support the service on Apple’s website

317 Apple Pay stories

April 2013 - July 2016

Apple pay Stories July 8

AAPL: 96.68

Stock Chart

Apple pay Stories July 7

AAPL: 95.94

Stock Chart

Apple pay Stories June 28

AAPL: 93.59

Stock Chart

Apple pay Stories June 21

AAPL: 95.91

Stock Chart

Just two weeks after coming to over 30 new banks and credit unions, Apple Pay today has added an additional 44 new institutions in the United States. The new banks come a few days after Bank of America announced that it was rolling out support for ATM withdrawals using Apple Pay and come as Apple announced several new countries for the mobile payment service at WWDC.

Below are the new banks and credit unions that now work with Apple Pay:

expand full story

Apple first introduced its mobile payments solution in 2014 and has been gradually expanding it both domestically and internationally since then, most recently announcing a handful of new features and countries at WWDC this month. What’s interesting to note, however, is that Apple is bringing in just $0.15 per every $100 spent using Apple Pay. Brian Nichols of InvestorPlace points out that rate is much lower than the 2 percent to 4 percent rates collected by companies like MasterCard and Visa. The solution suggested by Nichols? Make Apple Pay an actual transactor of payments…

expand full story

Apple pay Stories June 20

AAPL: 95.10

Stock Chart

Last year Apple rebranded its Passbook app as Wallet and boosted Apple Pay by adding support for loyalty cards. Coca-Cola started accepting Apple Pay debit and credit cards at many of its vending machines around the same time, and now its loyalty card is catching up. Customers can add the MyCokeRewards loyalty card to Apple Pay and receive a free drink in return.

expand full story


Submit a Tip


Submitting a tip constitutes permission to publish and syndicate. Please view our tips policy or see all contact options.

Powered by VIP