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Apple Pay Overview

BY: Arivuvel Ramu | Category: Technology | Submitted: 2016-01-10 04:42:14
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Article Summary: "Apple Pay is a mobile payment and digital wallet service by Apple Inc..."

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Apple Pay is a mobile payment and digital wallet service by Apple Inc.

It allow users make payments using the iPhone 6, 6 Plus, and later, Apple Watch-compatible devices (iPhone 5 and later models), iPad Air 2, iPad Pro and iPad Mini 3 and later
Apple Pay changes how you pay with breakthrough contactless payment technology and unique security features built right into iPhone®6, Apple Watch™, iPad Air®2, and iPad mini® 3.

Payment Mode:
#1 In-Store (NFC) - @ POS (tap to pay)
#2 In-App - Mobile App (Merchant App or Mobile Banking App)

Type of Card can be added to Wallet:
#1 Credit Card
#2 Debit Card
#3 Store Issued Card (Store Card)

Consumer Services Provide around Apple Pay:

#1 Add Credit / Debit Card into your iOS Wallet App
#2 Pay using Apple Pay @POS, @ Mobile App.
#3 Real time notifications and details for your purchases
#4 Seamless connection to the Mobile app for enhanced account monitoring, servicing on the go and access to rewards and offers

Apple Pay Use cases are,

- Add Card (Credit , Debit or Store Card) to Wallet
- Manage Your Card with in Wallet
- Default Card
- Remove Card from Wallet
- Lost or Stolen Device - Secure your Card/Transactions
- Pay at Point of Sale (in-Store) via Contactless Payment
- Pay with in Mobile App (in-App)
- Push Notifications - Event Driven
- Latest or Last Transaction
- How to add your card into Apple Wallet,

To add your Card to Wallet you can enter your Card information manually or by capturing your Card information with the iSight camera.

Upto 8 cards can be stored
Upto 10 devices that the card can be added separately

How to pay at POS,

#1 You can use Apple Pay to make payments in stores with supported devices wherever contactless payments are accepted. Just look for the contactless and/or Apple Pay symbol at checkout.

#2 For your security, when you add your Card to Apple Pay, a Device Account Number is created for that Card on that device. It is separate and unique to your device and different from your plastic Card number. #3 Your Device Account Number is used to make purchases with your Card using Apple Pay.
Reversal at POS - If you need to make a return for a purchase made with Apple Pay you can receive refunds to your account.
#4 The key difference is that you may be asked to provide to the cashier the last four digits of your Device Account Number instead of the last few digits of your Card number.
#5 To find the last four digits of your Device Account Number for your Card, visit the "Wallet and Apple Pay" section of your device "Settings" or on the back of your Card in the Wallet app

How to Pay with in mobile app,

#1 User can also pay with Apple Pay within participating apps that sell physical goods and services, like groceries, clothing, tickets, reservations, and more.
On User iPhone or iPad, User can use Apple Pay to pay within apps when he/she see the Buy with Apple Pay button or Apple Pay as a payment method
#2 All transactions completed with Apple Pay will appear with "AplPay" on your billing statement

User can add credit, debit, or store cards to Wallet,

User can change the default card, update your card information, or remove a card at any time
The first card you add to Wallet is your default card. user can change the default card as well.
For Remove card, Go to Settings > Wallet and Apple Pay, tap the card that you want to remove, then tap Remove Card.

4 Key Elements which made successful for iPhone can get into Mobile Wallet business,

- Touch ID
- Secure Element (chip)
- Wallet App (Passbook)

Authentication and Security:

Card Registration and Authenticate Once with Card Issuer - Provides "Unique Device Account Number" which unique to the (Card + Device)

1FA: Touch ID + Device PIN used as an 1FA
2FA: Dynamic PIN (Single use Security code generated every unique transaction - via Key Generator in-build in Apple Device)
Apple Device store the encrypted DAN (Device Account Number) into Secure Element.
Apple Device store the partial Card Number (last 4 digit), Partial Device Account Number (last 4 digit) into Wallet App (passbook) to provide the better usability to identify the card when user browse or manage the card.

About Author / Additional Info:

Ramu Arivuvel

Enterprise Architect and Digital Channel Expert

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