The retailers want people to use CurrentC, their in-progress mobile payments app that looks… lacking. Major stores like Best Buy, Walmart and CVS have been disabling their NFC readers to prevent people from using Apple Pay. While banks love Apple Pay (more on that in a second), a group of major retailers is teaming up to create a competing virtual payment system.

Winn-Dixie Why Aren’t There More Stores?įunny story there.

Chevron and Texaco, including retail stores like ExtraMile.

Where Can I Use Apple Pay?Ī small but growing number of stores accept Apple Pay. They are the only models with NFC, the technology powering all this. Does it Work on my iPhone?Īpple Pay in stores works only on the iPhone 6 and 6 Plus. When the user pays for something using Apple Pay, the banks check the cryptogram and the token to make sure it’s legit.Īlso Read: Here’s How Apple Pay Makes Credit Card Transactions More Secureįor more, check out this interesting explanation from Bank Innovation. This token is unique to each iPhone and is stored on a secure chip within the iPhone. When you use an iPhone to pay for something, it generates a cryptogram and a 16-digit token.

The cryptogram is sent back to the bank to process the transaction.Īpple Pay uses a similar system. This is the security key for that particular transaction. When you pay for something with a debit or credit card, the card’s chip and the reader create something called a cryptogram.

Apple is big on personal privacy and has taken a lot of important steps to protect your data. Is It Safe to Use Apple Pay?Īs far as we know, Apple Pay is safe. The phone uses it to wireless transmit your payment data with NFC terminals. The iPhone 6 is the first version of the iPhone to ship with Near Field Communication or NFC.

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