Following the trend set by Barclaycard back in 2008 when they released the first contactless payment card, there is a now a new way to shop without carrying a wallet. With Apple Pay, you can now use your iPhone or Apple Watch to pay for anything up to £20 at any contactless payment terminal.
The Apple Pay UK launch
This is the first launch of the product outside of the US. This is because contactless payment is becoming increasingly popular in the UK, with the major banks already offering cards that eliminate the need to type in a pin.
Coupled with the fingerprint security that prevents access by anyone but those authorised by the owner of the phone, Apple believes its new payment system is a secure, practical solution. You no longer need to remember your wallet to get on a bus (if you live in London), or to buy yourself lunch.
How to use Apple Pay
Apple Pay is in essence a digital equivalent to a wallet. It allows users to use payment cards through its own proprietary app. You can use it in two ways – in an actual shop and online.
If you’ve got the latest generation of iPhone (The 6 or 6 Plus), or an Apple Watch, you can use it in shops. It works in exactly the same way as contactless cards do, but without the need to carry an actual card.
However, unlike any kind of card payment, Apple Pay use a method known as tokenisation (similar to BitCoin). This means that instead of passing on card details to the retailer, the payee recieves a ‘token’ which means that they can only debit the payment amount one time.
And instead of entering your PIN each time you want to buy something, your Apple Pay purchases are verified using the Apple’s slicker and more secure fingerprint scanner.
Which cards can I use?
Nearly all the major UK banks are compatible with Apple Pay.
The list includes:
- Nationwide Building Society
- Royal Bank of Scotland
- Santander and Ulster Bank
Other banks such as First Direct and HSBC will be compatible later this summer.
The following banks will join during the Autumn:
- Bank of Scotland
- Lloyds Bank
- M&S Bank
- TSB Bank
If you’re a Barclays customer, they have unfortunately not yet reached any agreement with Apple so you might have a while to wait.
Where can you use Apple Pay?
You can use Apple pay at any retailer already accepting contactless payment cards.
The list includes:
- Marks and Spencer
- Post Office
- Costa Coffee
- LePain Quotidien
- Pret A Manger
- The Trainline
- Transport for London
Will people really use Apple Pay instead of contactless cards? Only time will tell, but this is a major rollout and Apple are seemingly very confident. If you’d like to explore the option of having Apple Pay enabled iPhones as a part of your organisation’s set up, please contact us. Alternatively, you can give us a call on 02082321190 and one of our dedicated advisors would be happy to help.