Today Apple unveiled a reconceived digital wallet called ApplePay at their keynote address. The feature, which is built into Apple’s new smartwatch device will allow people to make purchases by holding a phone or an Apple Watch near a sensor.
According to Tim Cook this is part of Apple’s strategy to replace actual wallets and make our lives easier. Cook touted ApplePay as encrypted and secure. After the celebrity hacking scandal last week, I’m sure this part of his talk raised a few eyebrows.
The interesting thing about ApplePay is that your credit card number won’t actually be stored anywhere - the device only account number will be stored instead. As another secondary security measure, you'll get a one time payment number aswell.
Apple has affiliated itself with Bloomingdales, Walgreens, Staples, Subway, McDonalds, Groupon, Uber, Sephora, to name but a few.
The feature will available as soon as next month as a free update to iOS 8, but will only for US customers at the moment.
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