ALERT

[FREE DEMO] Deploy Your Enterprise Cloud in Minutes

Apple Pay

Definition - What does Apple Pay mean?

Apple Pay is a mobile payment service from Apple, Inc., that is available on Apple 6 iPhones and smartwatch devices. Apple Pay provides an innovative contactless payment system that allows buyers to make purchases just by swiping their device in the vicinity of a cashier’s kiosk.

Apple Pay is sometimes informally referred to as iPay.

Techopedia explains Apple Pay

Some types of contactless systems have been around for a while; for example, in highway toll payments, the "Easy Pay" card is an example of a system that does not require the traditional credit or debit card swipe entry and security features. However, the reason that toll booth operators can offer this technology is by distributing prepaid cards.

Now, Apple is offering a built-in technology in its devices that allows users to circumvent the commonly traditional process of swiping a credit or debit card, signing a piece of paper or entering a pin code for transaction integrity.

Apple Pay is not yet operational with all banks, and it is still in its nascent stage. But it does point to a growing trend in buying technology, which could mean that the traditional credit and debit cards may get phased out over time.

Techopedia Deals

Connect with us

Techopedia on Linkedin
Techopedia on Linkedin
Tweat cdn.techopedia.com
"Techopedia" on Twitter


'@Techopedia'
Sign up for Techopedia's Free Newsletter!

Email Newsletter

Join thousands of others with our weekly newsletter

Resources
The 4th Era of IT Infrastructure: Superconverged Systems
The 4th Era of IT Infrastructure: Superconverged Systems:
Learn the benefits and limitations of the 3 generations of IT infrastructure – siloed, converged and hyperconverged – and discover how the 4th...
Approaches and Benefits of Network Virtualization
Approaches and Benefits of Network Virtualization:
Businesses today aspire to achieve a software-defined datacenter (SDDC) to enhance business agility and reduce operational complexity. However, the...
Free E-Book: Public Cloud Guide
Free E-Book: Public Cloud Guide:
This white paper is for leaders of Operations, Engineering, or Infrastructure teams who are creating or executing an IT roadmap.
Free Tool: Virtual Health Monitor
Free Tool: Virtual Health Monitor:
Virtual Health Monitor is a free virtualization monitoring and reporting tool for VMware, Hyper-V, RHEV, and XenServer environments.
Free 30 Day Trial – Turbonomic
Free 30 Day Trial – Turbonomic:
Turbonomic delivers an autonomic platform where virtual and cloud environments self-manage in real-time to assure application performance.