Set Up Apple Pay Cash and Person to Person Payments

Now you can send and receive money with Apple Pay Cash in Messages or just by asking Siri. There is no app needed to be downloaded and the cards that you have already in Wallet can be used to make payments in stores, in apps or simply anywhere across the web. Right from sending money to your child in college or paying your bills to paying a babysitter, you can send and receive payments from across the table or even from across the country in an instant with the help of Apple Pay Cash.

There are some pre-requisites to make or receive payments with Apple Pay. You need to be a resident of the United States and must be at least 18 years old. In addition you also need the following:

     
• A device that is compatible with iOS 11.2 or later.     
• An authentication for your Apple ID that is two-factor. You have to make sure that with the help of your Apple ID you sign in to iCloud on any device that you want to utilise for sending or receiving money.      
• You also need to have an eligible credit or debit card in your Wallet, to be able to send money.

After the above steps, you need to also agree to the Terms and Conditions of Apple Pay. This can be done the first time you try to receive or send cash. Verifying your identity is also something you will be asked to do. After the Terms and Conditions are accepted, you can make and receive payments with your family and friends instantly, easily and safely straight from your iPhone, Apple Watch or iPad. However, you cannot use this one to one payment with Apple Pay for activities that are business-related, such as running transactions for your business or paying your employees.

Setting up Apple Pay Cash in Wallet

When you receive money from someone, it is safely kept on your Apple Pay Cash card by default. You will be able to see the new addition of your Apple Pay Cash card in Wallet and you can use it for your personal transactions or transferring some amount to your own bank account from your Apple Pay Cash.

While setting up for the first time, you need to use any device supporting Apple Pay Cash when you’re signed into iCloud with the help of your Apple ID. Thereafter, you need to tap on Settings and then on Wallet & Apple Pay. After this, you need to tap on the Apple Pay Cash card and then follow the instructions that appear on the screen. If Apple Pay Cash is turned off on any one particular device, other devices can still be used to access Apple Pay Cash by signing in with your Apple ID.

No fee is charged to use Apple Pay Cash with a debit card. However, using a credit card will cost you a 3% credit card fee on the amount. Your credit remains unaffected on setting up Apple Pay Cash. At certain points, you will be asked to verify your identity while using Apple Pay Cash for security reasons. Failing to comply with this step will result in reduced functionality of Apple Pay Cash.

Apple says opening up iPhone NFC would ‘fundamentally diminish’ security as Australian banks resist Apple Pay

Banks Teaming to Get NFC for Digital Wallet Application

Apple has not taken well the way banks have been teaming up to get their own products on the iPhone which became clear when three Australian banks attempted to pressure the tech giant in giving it access to the iPhone’s near-field communication – NFC, chip for their own digital wallet application. NFC enables the user to tap your iPhone at the register in order to pay for the goods and services.

Apple Pay tends to permit iPhone and Apple Watch users in making contactless disbursements at merchandising outlets in the United States, the United Kingdom, China, Canada, Hong Kong, Singapore, France, Switzerland and Australia. Users need to just tap their devices on normal merchant contactless terminals for disbursement rather than utilising cash or debit/credit card.

Apple Pay will be coming to the web later in the year, supporting Apple Pay transaction on macOS also. Apple had made a formal complaint to the Australian Competition and Consumer Commission in reaction to conflict from Australian financial institutions in accepting Apple Pay. Apple has stated that the three largest banks of the country have formed an anticompetitive union and together have been dictating terms of new payment business models such as Apple Pay.

Enabling Banks – Weakens Security

Apple had responded to their request recently with strongly phrased letter which was revealed on Tuesday clarifying that enabling the banks in having their way would essentially weaken the high level of security which Apple has focused to have on the devices.

The NFC of the iPhone is said to be the critical piece of tech which tends to power Apple Pay and the company has kept it under lock and key which is utilised mainly for its own service. Apple Pay introduction had given rise to customer awareness in mobile expenses and hundreds of monetary institutions all over the world have partnered with Apple Pay to enable their customer to connect their bank accounts to their iPhone digital wallets. However, Australia tends to claim of only one participating bank, namely ANZ.

So far Apple has been unsuccessful in negotiating the terms with any of its competitors that seems to be jointly refusing the services.The National Australia Bank, the Commonwealth Bank of Australia and Westpac Banking Corp are making efforts of challenging the digital wallet monopoly of Apple on the iPhone by appealing to the regulator, the Australian Competition and Consumer Commission, of the country.

Regulator to Consider Arguments of Both Group

They desire approval to negotiate with Apple with the expectation of installing their own mobile payment scheme on the device. However, Apple is not having any of it and in its letter to the regulator has send a warning to the banks that it would not permit external parties to control its future hardware and software verdicts, particularly when they team up against the company.

It reads thus “allowing the banks to form a cartel to collectively dictate terms to new business models and services would set a troubling precedent and delay the introduction of new, potentially disruptive technologies”.

The complete letter also comprises of specific legal arguments by Apple on why the requests of the banks should not be taken ahead by the ACCC. After August, the regulator would begin to consider the arguments of the groups from both ends inclusive of Apple and the banks. No comments have been provided from the representative of the banks, to the requests for comment.

Apple Pay coming to mobile websites later this year

Apple Pay has been widely accepted by the users all across the globe and it is going in the mobile based payment solutions category. Apple devices have sold at a great percentage in the last year which has helped Apple in increase the use and popularity of the Apple Pay as it comes preinstalled in the devices. Now an inside report has suggested that Apple is gearing to improve the compatibility of the Apple Pay by debuting it on the mobile websites later this year.

Apple Pay has been hugely accepted by the consumers as it offers a simple solution of completing the purchases on mobile apps by simply reading the finger print rather than going the tedious task of entering the credit card details. Apple Pay network is getting more and more partners which are accepting its payment solution in order to improve their business growth and stability in this modern age.

Apple Pay going strong just after a year

Apple has given out advisory to its partners stating its aim of expanding to the websites will be enabled by later of this year. This expanding strategy shows that Apple is taking the mobile websites seriously which seems to have dwindled in the recent past due to the rise of mobile based applications popularity.

This report was given by the Re/code which has trusted sources and it is too be believed that Apple has even told its partners that the Apple Pay expansion to the mobile websites will be completed well before the holiday season at the end of this year. This will give ample chance to the Apple Pay network users to bolster their sales in an unimaginable manner during the holiday sales period.

How Apple Pay expansion for mobile websites will work? 

Apple Pay service is expected to be made available in the last quarter of this year. Users will be able to use Apple Pay service by going to the Safari browser on their iPhone and iPads having the Apple’s TouchID fingerprint technology. However Apple is also considering making Apple Pay service available on its laptops and desktops devices in the future but at the moment users will have to settle with the handheld devices only.

Apple’s expansion move challenges PayPal

Apple Pay so far has not threatened any established online payment network but Apple’s move to expand to the mobile websites will bring it head on with PayPal. PayPal has been extremely popular among both the consumers and business network as a payment method on the websites. PayPal also offers a mobile based payment product which helps in facilitating payment transaction both on the websites and apps through its One Touch.

But Apple Pay happens to be quicker, simpler and easier to use payment method and expanding on the mobile websites will certainly give it an edge against PayPal services and products. Apple officials have however declined to comment on the expansion move.

Apple Pay Officially Launches in China

The Launch of Apple Pay in China

Apple Pay that offers great prospects though some substantial challenges has now landed in its fifth country. Apple has recently announced on its Developer page as well as through the Weibo account of CEO Tim Cook, the launch of Apple Pay in China. The Chinese consumers would now be capable of utilising the service in purchasing items at supported retailers by using their iPhones and Apple Watches.

The potential to pay for goods through a smartphone has been around for some years particularly in China. Apple Pay, launched in 2014, helped in arousing consumer interest in the concept. Apple had faced competition from Samsung Pay as well as Google’s Android Pay besides banks like JP Morgan and retailers like Walmart, who also intend to join in the mobile payment bandwagon.

Apple Pay is already being utilised in US, UK, Canada and Australia and in order to gain more foothold, the service is required to extend to additional countries. China tends to represent a main achievement since it is the largest smartphone market in the world and Apple’s second largest market with regards to revenue.

Encounter Key Challenges in Winning Chinese Consumers

Apple Pay seems to encounter key challenges in winning over Chinese consumers where several of them already pay for products through their phone by using services offered by one of the country’s two main online companies namely Tencent Holdings and Alibaba Group.

Towards the end of last year, around 358 million Chinese paid for goods through their smartphones, according to Reuter’s reports that cited data from the Chinese Internet Network Information Centre. Moreover, Apple Pay needs retailers to furnish their point-of-sale terminals with NFC or near-field communication technology that tends to communicate with equally equipped iPhone of Apple Watch.

According to BBC News, Alipay system of Alibaba tends to conduct transaction by displaying quick response - QR codes that can be read by more phones and also supports both iOS as well as Android devices. One retailer who refrained from being named for fear of harming business prospects informed Reuters, that`with 100% saturation of local payment systems, none have been demanding for Apple Pay in China’.

Apple Pay – Solution in Need of a Problem

`Presently all have a local payment option on their phone and so Apple Pay is a solution in need of a problem’. In order to compete with Tencent’s Tenpay service as well as Alipay, Apple had been in partnership with UnionPay, which is a bankcard association, dominating the credit and debit card processing market of the country.

Apple Pay is presently supported by 19 various Chinese banks as well as lenders meaning that the service can work with about 80% of credit and debit cards of China, according to Vice President of Apple Pay Jennifer Bailey, who informed Reuters. To make in-store transactions, Apple Pay needs to work with the iPhone 6S, iPhone 6S Plus, iPhone 6, iPhone 6 Plus together with Apple Watch.

The service works with all those devices and with the iPad Air 2, iPad Mini 3, iPad Mini 4 and iPad Pro to make in-app purchases. No comments had been done by Apple to a request for comment.

How Apple’s Trojan Horse will Eat the Credit Card Industry

Apple has launched its mobile app payment system called Apple Pay last year among much fan fare and great support from the credit card industry. Apple Pay partnered with a number of banking institutions which issued credit cards. It was supported by the credit card because it solved the most critical technology issue and infrastructure problems which were being faced by the credit card industry. Apple Pay in other hand offered a new avenue for growth for the credit card industry.

Apple Pay is like a Trojan horse for credit card industry

Apple Pay is not yet a popular name in the field of transaction but it is growing at a steady pace, which ensures that it will achieve wider popularity within few short years. Apple has recently announced a deal with China’s Union Pay, which will allow it to operate nationwide in China.

The credit card industry should remain vary of the Apple Pay as it a Trojan horse for them. Once Apple has successfully established its platform on a larger level across the globe then it wouldn’t need the help of banks and credit cards at all. Apple will be able to take advantage of another great technology named blockchain, which will acts an alternative payment option. Bockchain happens to be core technology behind popular Bitcoin and it can function as a transparent ledger of the transactions.

Apple advantage over credit card industry

One of the biggest advantages, which Apple has over the credit card industry, is that it is supported by a grand magnitude of iPhone loyalists. iPhone has a cult-like following all across the globe which brings a great opportunity for the Apple to push the Apple Pay to its followers with each software update or new product offering. But it wouldn’t be easier for the Apple to change the habit of the people but with time we will see a wide number of users actively adopting the Apple Pay platform for making day-to-day transactions than the credit cards.

Apple is also financially equipped to push the usage of Apple Pay by offering credits on purchasing of an iPhone along with exclusive discounts on iTunes store. Even the rebates for credit card fees can also be used for buying the music on the iTunes, iPhone accessories or movies on Apple TV. Currently there aren’t enough outlets throughout the globe, which accepts Apple Pay, but with time it is expected to gain huge momentum.

Credit card companies failed to popularize the use of chip and pin technology

Credit card companies simply failed to force the merchants to install a new chip and pin technology. It should be noted that merchants had complained a lot the time taken by the credit cards in reading card cards. This not just annoys the customers but also costs money in lost transactions. Even this system doesn’t have a uniform guideline for usage as in Europe chip-and-pin transactions require both the chip in the card and a pass code while in US terminals only need the chip.

Apple Pay is coming to Starbucks

Apple’s Mobile Payment Service Coming to Starbucks

Vice President of Apple Pay, Jennifer Bailey, during the Code Mobile conference, had revealed that Apple Pay, Apple’s mobile payment service would be coming to Starbucks next year. Starbucks would be starting to pilot the service in some of the stores towards the end of 2015 and would be rolling it out to Starbucks company owned stores, around 7,500 by next year.

Bailey has informed that working on Apple Pay, she has seen great changes in momentum around acceptance at the merchant level, adding that about 80% of Apple Watch owners very actively tend to use Apple Pay. She said that Apple Pay would be hitting KFC restaurants in spring and Chili’s restaurants in 2016 as a pay at the table model.

The potential of turning smartphones into digital wallets with the ability of paying at the register had been advertised for years. Apple had kick-started consumer interest in the technology when it had launched its first project into contactless mobile payment last year. Less than 72 hours after the debut of Apple Pay, around 1 million credit cards had been utilised on the service.

Pay Through Near Field Communication - NFC

People can pay for products on the go at supported retailer through near field communication - NFC, technology with a new iPhone or Apple Watch. Besides this, other Touch ID enabled devices like the iPad Air 2 and iPad Mini 3 can also be used to pay for in-app transactions.

The iOS 9 update since last month enables users consolidated loyalty as well as rewards cards. The service tends to utilise a tokenization method which sends an encrypted digital token to stores rather than a credit or debit card number whenever a transaction has been made, which means merchants as well as retailers never get to view customer data.

 Mobile payments service of Samsung also works in the same manner. With around 500 financial institution partners together with 220,000 US merchant locations which tend to make mobile payment through NFC’s short range, secure wireless capabilities, Apple Pay had gone live in 2014. Towards mid-2015,over 2,500 banks had signed on to render support to Apple Pay with more than 1 million locations accepting Apple Pay.

Apple Pay – Two Thirds Contactless Payment – Radio Frequency

Apple Pay seems to be on track to be accepted at over 1.5 million US locations towards the end of this year. Apple had said that in January, Apple Pay made more than two-thirds of all contactless payments comprising of any device or smart card which makes payments utilising a radio frequency.

However, Apple has faced a lot of competition from Google which has been bulking up its Android Pay offering, together with Samsung which had introduced its Samsung Pay service in the US last month. The services of Samsung enables consumers to pay for products with their Galaxy phone and the impending Gear S2 smart-watch, tends to work at older retail depots that do not accept Apple Pay but thanks to the achievement of LoopPay in February.

Bailey had commented recently that she had been treated well as one of the few female executive at Apple. Bailey had been one of the two female executive highlighted on the stage in June at the time of Apple’s developer conference

Apple in Talks with UK Banks to Launch Apple Pay

According to recent reports, The Telegraph, top banks all over UK are presently negotiating with Apple, for the launch of Apple Pay during the first half of 2015. Sources have disclosed that the major banks have called for privacy concerns over personal and financial information of users but have admitted that they are positive with regards to the impact the service has made in the United States.

The bank is not comfortable with the amount of personal and financial information of the customers, that Apple collects and some executive are apprehensive that Apple Pay and the data it delivers to Apple could serve as a cause for an invasion of the banking industry.

This information comes in after Apple had posted a job listing for Apple Pay Intern somewhere early this month which indicated that the company is striving to work hard in the expansion of its payment service across Africa, Europe, India and Middle East.

In September, Visa had also stated that it would be working with Apple to roll out Apple Pay across Europe in 2015 while e-commerce giant Alibaba has also been negotiating with Apple over a partnership which would bring about the service to China

Established Near Field Communication Technology

According to The Telegraph, Apple has hopes of launching Apple Pay in the first half of 2015 where negotiations are reported to be tricky, as at least one of Britain’s major banks has been reluctant to share too much information with Apple to launch its tap to pay service.

Apple Pay had already been launched off in the U.S., in October and had become the largest NFC based mobile payment service in the market where various competitors had already been established and in November, Apple Pay was accounted for 1% of all digital payment dollars. Apple Pay has seen adoption at various popular retailers and restaurants in the U.S. which include McDonalds, Macy’s Subway, Walgreens, Whole Foods, Nike to mention a few.

Presently Apple Pay depends on established near field communication technology and users have found that they can use the capability at some NFC terminals internationally though the tap to pay functions present in the iPhone 6 and iPhone 6 Plus operates only if the device is set up properly with American credit cards.

Compatible with Global Systems

Presently Apple Pay is limited to the U.S. though the job listings in Europe and China indicate an international rollout is in progress and Apple has not disclosed any specific launch for international availability.The fact is that Apple Pay has already been compatible with global systems indicating that the international roll out of Apple’s mobile payment service is not affected by technology or point of sale systems.

On the contrary, Apple should forge agreement with credit card issuers and banks ensuring compatibility all across the globe. Sources have accepted that no major bank would want to miss out on Apple Pay though early indications from the United States show that it may be the service to ultimately convince the consumers to pay with their mobile phones.

Apple Launch Soon – PayPal Split from eBay

With the launch of Apple Pay this month and PayPal’s likely split from eBay, a conflict is heading towards mobile payments. Since PayPal has been the mobile payment pioneer in late 1990, Apple Pay has to put in a great deal of efforts in convincing users to do away with their credit cards in favour of digital wallet.

PayPal’s complete break away from eBay is likely to take place late 2015 and this move will enable both the companies to be more competitive as well as focused in their own respective areas. PayPal’s app is made available for Apple, Android and Windows devices and presently only iPhone 6 and iPhone 6 Plus users could take advantage of Apple Pay and probably PayPal could work well with Apple Pay.

The CEO of PayPal parent eBay, John Donahoe, at an investor conference held recently, commented that he wants PayPal to be a presence however consumers would want to pay, indicating his willingness to work with Apple’s forthcoming mobile payments feature.

He stated `that the future of payments would be where people will have multiple ways to pay and would want PayPal to be present in every environment’.

Apple Pay – Potential Competitor for PayPal

He was in discussion about eBay’s plans to split PayPal into a separate business in the second half of 2015 enabling mobile payments businesses as well as online auction house to stress on different priorities.

Carl Icahn, an activist investor who motivated this move is keen in making the two businesses more effective and able to react to the changing dynamics of both the areas and the rapidly changing area is payments where PayPal tends to face Apple Pay, as a potential competitor.

As PayPal is gradually making its presence in mobile payments, Apple on the other hand could make an appearance and shake up the category with Apple Pay turning the iPhone into a mobile wallet with potentials of paying at the cash register.

Apple Pay is expected to go in service very soon. Apple has the advantage of good customer base together with the reputation to draw users on to mobile payment which PayPal as well as the other companies may have struggled to achieve.

Apple Pay Good for Payment Ecosystem

In early September after Apple had shortly unveiled its payment product, PayPal had taken a series of full page print advertisement in many major newspapers criticizing the company for its weaknesses in software security.

The service which is expected in the coming weeks has the technology industry trying to profit from a future where apps can use the option of replacing cash, credit cards and checks. According to Mr Collision, co-founder and president of Stripe, he states that Apple Pay could be good for all in the payment ecosystem since it increased the amount of transaction which is occurring in mobile.

 Apple Pay is expected to be available within a month, people can now pay online or in person using their iPhone’s fingerprint sensor to check out and get an experience of faster and safe mode of payment from its predecessors with several major retail chains and restaurants signing up to accept payment through Apple Pay.

Apple Pay – Transaction Secured and Easy

Apple’s next focus on how we pay for things, end number of times, is aiming on cash and credit cards as well as online shopping. Apple Pay utilises NFC – near field chip to correlate with payment sensors at store checkouts which works on Touch ID.

This is a system built in updated iPhone which uses the fingerprint as a pass code. Apple Pay intends to make the transaction much more secured when major retailers like Target and Home Depot have reported huge breaches on the payment systems. A visit to Cupertino, California was undertaken by Gwen Stefani, Dr Dre and Stephen Fry together with a team of experts from fashion and technology to see Tim Cook, executive of Apple, unveil his latest products.

Their attention was drawn towards Apple Pay wherein Tim Cook made a statement saying `it’s all about wallet and that their vision is to replace it’. He then showed a video presentation wherein a woman was found fumbling for her card at a till, rummaging through her bag before swiping and then walking out with her goods.

According to him, Apple would make the entire process a lot quicker by simply pulling out your phone, tap the register and you’re done. This made sense to him since most of the shoppers tend to move around with phone in their hands.

Helping Consumers to Travel Lighter

To get started, Apple is on its way targeting the plastic which fills the pockets where shoppers make around 200m transactions daily with their cards and Apple is keen on helping consumers to travel lighter.

Apple Pay compatible devices are the iPhone 6 and 6 Plus and owners of any of these devices could hold their card details in a digital wallet and pay for goods by tapping at the till. Apple does not seem to be discouraged with its past failures and is not a stranger to upsetting expectation.

Past experience which had occurred four years ago, when Steve Jobs, the chief executive then, had met with some universal criticism when he had set up the new iPad range where tablets were already available and consumers had rejected them.Apple proved the critics wrong and their devices with 170m units were sold while ecosystem of cheaper tablet had made their appearance.

Businesses/Consumers to Accommodate Apple Pay in their Plan

Recently, Tim Cook got his first opportunity to make his mark. After the death of Mr Job, the Apple Watch is the first new product line to be announced and the company’s step in the payment world would depend on how the present boss settles a legacy.

According to market survey it is considered that the new devices are the most anticipated and consumers would need to upgrade their iPhone 4 and 4S models which presently are the most preferred models. Apple’s iTunes platform is where users would have to sign up for Apple Pay, has over 800m users already.

Businesses as well as consumers are now looking forward to accommodate Apple Pay in their plans and Apple has gone ahead and signed up with some large names for its US launch this coming October which includes Disney, Starbucks, McDonald’s and Whole Foods.