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Posts tagged ‘mobile payments’

Making Sense of NFC

Did you ever think that we would reach a level of technology where we can pay for stuff with our cell phones? It’s crazy, right?
But guess what? It’s here.
With the evolution of NFC, mobile payments are now possible.
What is NFC?
NFC is an abbreviation for Near Field Communication. This system makes it possible for two devices to connect from short distances. No, it’s not Bluetooth. It’s way better. A primitive form of NFC has actually been in use for years: think of the card you use to access restricted doors or pre-pay bus or subway rides. Since 2010, advanced cell phone models have had this feature for quick file transfers but now, it’s challenging the credit card.
How does NFC work?
It’s simple. First, your phone must have a necessary application or feature: Google Wallet for Android and Apple Pay for iOS. Next, connect the app to your bank accounts or, to be safer and manage funds better, open a prepaid account. And voila! Your cell phone is now a credit card. You use this mobile payments method by waving it over a reader at the cash register that reads your secure identification code and that’s it, you’ve paid. Not only that, a digital receipt is automatically saved into your phone, making it a paperless transaction and help keep better track of your expenses. It’s quicker and more convenient.
NFC and NFC mobile payments = RIP: Credit Cards.

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Shopping with your iPhone 6

Apple has released their newest additions to their iOS technology: the iPhone 6 and 6 Plus. While both units have revolutionized the iPhone in terms of look, feel and screen size, it’s far from over. Apple added a certain feature that makes iPhone 6 mobile payments possible.
Apple Pay
The Apple Pay is a new form of payment process that lets your phone act as a credit card. It combines the technologies of near field communication (NFC) antenna, Passbook and Touch ID. Apple has also added what they call a Secure Element, which is basically a chip dedicated to storing encrypted payment information. All of this combined makes any cash register with the proper terminal an iPhone 6 mobile payments center.
How does it work?
You first need to add a credit card to the system and there are two ways to do it. One is to use the card connected to your iTunes account or two, use the phone’s iSight camera to add a new one. The moment Apple Pay has your card information, all you need to do is to point your phone at the reader in the cash register, select the credit card you want to use and authenticate it through Touch ID (fingerprint).No need to enter any payment information. It’s that easy!
Apple revealed a list of retail partners that will integrate Apple Pay in their transactions, which includes their retails stores, McDonalds, Walgreens and Sephora.