Apple just announced a new mobile payments system called Apple Pay for customers in the US.
Apple Pay will work with an NFC chip that will be built into every new iPhone.
To get started with Apple Pay, you can simply add a credit card from your iTunes account. You’ll also be able to add new credit cards to Apple Pay just by using the iSight camera on your phone — no need to type in card numbers.
With Apple Pay, you’ll pay for something with a touch of your finger using Touch ID. The service is starting in the US on American Express, Mastercard, and Visa, as well as several major banks.
If your phone is lost or stolen, you’ll be able to suspend all payments from the device remotely using Find my iPhone, and there will be no need to cancel your credit card because all of your information is securely stored on the phone and only accessible by your fingerprint via TouchID.
Here’s how Apple Pay will look:
Apple has partnered with a bunch of stores like Whole Foods, Macy’s, Target, Walgreens, McDonald’s, and, of course, Apple stores, and works at over 220,000 merchants. It will also work with apps like Uber and Seamless.
Apple also promises that it won’t track what you buy or how much you paid, and the cashier won’t see your name or credit card number. It will be available in the U.S. by October.
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