Apple Pay

About

Apple Pay is a mobile payment and digital wallet service by Apple that allows users to make payments in person, in iOS apps, and online. It uses Near Field Communication (NFC) and tokenization to secure transactions, replacing traditional credit and debit card information. When a user adds a credit or debit card to their Apple device, the actual card number is not stored, instead, a unique Device Account Number (DAN) is created and linked to the card. This DAN is used to authenticate and authorize transactions, providing an additional layer of security. With Apple Pay, users can make payments by holding their device near a contactless payment terminal, using Touch ID or Face ID to authenticate the transaction. Apple Pay also supports in-app purchases, allowing users to make purchases directly within their favorite apps. Additionally, Apple Pay offers rewards and loyalty programs, making it easy to earn and redeem points. Apple Pay is accepted by millions of merchants worldwide, including major retailers, restaurants, and hotels. It is also integrated with Apple's Wallet app, allowing users to store and manage their payment cards, rewards cards, and other passes in one convenient location.