Apple Inc., an American Multinational Corporation has just introduced the Apple Pay to help Visa and MasterCard users to make payments via their Iphone6, Iphone 6 plus and Apple Watch. This is an initiative to enhance the global electronic payment system.
At a store, consumers can simply pay by just holding their iPhone near a contactless reader with their finger on ‘Touch ID’ and their transaction will be authenticated, according to a statement by MasterCard. For purchases within an app, consumers will simply touch to pay and authenticate with their fingerprint or passcode for a seamless experience without having to enter their card number or leave the app.
The development will make paying with mobile device become even more priceless, according to the global payments technology companies.
A statement by Visa said a new capability called Visa Token Service would enable participating financial institutions in the United States, and eventually abroad, to be able to add Visa debit and credit cards to Apple Pay.
This is a good development by Apple as part of its innovation to make the mobile experience a pleasurable one.
