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Apple Pay and Mobile Payment
Apple Pay and Mobile Payment
Contents
What is Apple Pay? ................................................................................................................................ 2
In Apples Words!! .................................................................................................................................. 2
Why Apple Pay Is Not A Technology Breakthrough? ..................................................................... 2
Why Has NFC Not Been Successful ................................................................................................ 2-3
Why Apple Pay Is A Mobile Payment Breakthrough? ...................................................................... 3
Some Standout Features ....................................................................................................................... 4
Possible Pain Points ............................................................................................................................... 4
Conclusion ............................................................................................................................................... 5
ABOUT US ................................................................................................................................................ 5
In Apples Words!!
Gone are the days of searching for your
wallet. The wasted moments finding the
right card. The swiping and waiting. Now
payments happen with a single touch.
Apple Pay will change how you pay with
breakthrough contactless payment
technology and unique security features
built right into the devices you have with
you every day. So you can use your iPhone
6 to pay in an easy, secure, and private
way.
Some Standout
Features
Apple will have no access to the user's
information and transaction details.
Retailers too will not have access to
their customer information. The user's
credit card information will be
installed in a secure element which
keeps it independent of any software
on the mobile device. Also as a
hardware protection the secure
element shuts down if there is any
physical tampering.
Security has been made the key stone
for Apple Pay. Besides the NFC and
secure element, biometric
authentication is enabled using Touch
ID. This prevents payments from being
made by unauthorized person.
In case of lost phone, the wallet can
be disabled immediately by accessing
the My iPhone App. Hence the usual
hassle of calling up issuer in case of
lost plastic card is eliminated.
Conclusion
Hence all in all Apple has ensured that the
reluctance by customers, merchants and
issuers is overcome by providing an
acceptance infrastructure which will
benefit all. However reservations still exist
and need to be effectively handled by
Apple for success of mobile payments
using Apple Pay.
About Us
Altimetrik today is a rapidly growing
organization with more than 2,500
associates spread across the globe.
Headquartered in Southfield Michigan, USA,
Altimetrik has offices in San Francisco, New
York, Bangalore, Chennai, Mumbai and
Monte Video.
Today, user experience is driving business.
Organizations have many ideas to deliver a
superior user experience to their
customers. But unfortunately they are held
back by traditional systems that operate in
silos. Altimetrik will work with enterprises in
setting up an environment that is
customized to them; to enable tools,
frameworks and Techno domain expertise
in order for enterprises to deploy their ideas
faster in the market.
We do this backed by our unified resources
- User experience designers, Industry
consultants, Techno- domain analysts,
Technical architects, DevOps engineers,
Information visualization modellers, Testers,
Integration experts and Deployment
specialists. Our expertise lies in leveraging
our Agile methodology and creating
reusable prototypes in 30-60-90 days
Altimetrik, Transforming businesses....
Touching lives....