Apple Pay Overview Updated September 20, 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 is also now supported on the Mac and on the web with iOS 10 and macOS Sierra.

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

343 Apple Pay stories

April 2013 - September 2016

Apple Pay Stories September 6

AAPL: 107.70

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Following reports that Apple Pay will launch in Japan next year, the service today has expanded to a handful of new banks in the United States. Apple today updated its Apple Pay support document to add over 20 new banks and credit unions in the United States.

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It was reported last month that Apple is planning to launch an iPhone model in Japan with support for the widely used FeliCa mobile payment technology. Now, Nikkei Asian Review reports that Apple is planning to partner with Sony to bring the technology to the iPhone next year.

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Apple Pay Stories August 30

AAPL: 106.00

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A month after Australian banks demanded the right to have their own apps access the NFC chip used for Apple Pay, Apple has issued a formal response to the Australian Competition and Consumer Commission (ACCC). The company argues that giving Australian banks what they want would be doubly harmful to consumers.

A fortnight ago, the ACCC denied the banks an interim ruling, but said that it would be considering the matter more fully.

Apple initially dismissed the idea on security grounds, also claiming that the banks were acting as an illegal cartel. It has now made a 21-page formal submission to the competition authorities, explaining the two additional reasons it believes such a move would be detrimental to the interests of consumers …

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Apple Pay Stories August 23

AAPL: 108.85

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Much has been written about the convenience of Apple Pay, especially on an Apple Watch. Instead of reaching into your pocket or bag for your wallet, and extracting the card you want to use, you can simply double-click the side button on the Watch and hold out your wrist.

But there’s one aspect of Apple Pay that I’ve always felt fails to get the full attention it deserves: the fact that it never hands over your card details to retailers. Even on Apple’s own microsite, the feature is buried in a paragraph whose heading is about the use of fingerprints.

Yet the list of major chains who have seen customer card details compromised is virtually a Who’s Who of retailing and the hotel trade. Acer, Carphone WarehouseCVS Photo, Eddie BauerHiltonHome Depot, K-Mart, Marriott HotelsMichaels, Neiman Marcus, P.F. Chang’s, Staples, Starwood HotelsSuperValu, TargetTrump Hotels and Wendy’s. That’s even before we get into the Oracle hack that may have exposed almost every US credit card … 

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Apple Pay Stories August 19

AAPL: 109.36

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The Australian banks have been denied permission to act as a monopolistic cartel in the country, preventing them from negotiating collectively with Apple over Apple Pay terms for the time being as reported by Reuters. Australian banks are resisting adoption of Apple’s mobile payment solution (available in iPhone 6 and iPhone 6s), referring to hefty fees and loss of customer control.

Apple says that the banks are being anti-competitive by blocking the introduction of innovative payment technologies like Apple Pay. The banks want to force Apple to open up the NFC chip to third-party developers, which Apple says would cripple the security standards of its platform.

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Apple Pay Stories August 18

AAPL: 109.08

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Not one to shy away from the spotlight, Kanye West has announced that this weekend he’ll be opening up 21 pop shops around the world, some of which will be exclusively accepting Apple Pay thanks to a partnership with Square. Square’s contactless readers will be available in the U.S., Canada, and Australia so that customers can focus on paying for their items as quickly as possible. West claimed that the last pop-up shop had generated $2 million in sales in New York City alone, so a high revenue weekend like this could be great exposure for Square’s technology.

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