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Apple Pay Blog2/24/2015

5 Interesting Facts You Might Not Know about Apple Pay

Earlier this winter, Apple announced their new and revolutionary Apple Pay, to be used with their new iPhone 6.  The concept is that iPhone 6 carriers will love the added convenience of not having to carry their wallet anymore, but will instead load their Apple approved financial institutions credit and debit cards in to their iPhone instead. When it comes time to paying in stores, the Apple Pay user can do it with a "motion" of their phone at the merchants device.

Fact 1: The iPhone 6 is the first Apple iPhone able to do a transactions like this because it is the first iPhone to have the innovative Near Field Communication antenna in it.

Fact 2: To pay at a merchant the customer just holds their iPhone by the merchants contactless reader and has their finger on "Touch ID". 

Fact 3: You know your purchase was successful by a slight vibration and beep to let the iPhone owner know.

Fact 4: All merchants do not currently have the ability to take contactless credit and debit card transactions, so while this technology will work at some merchants at this time, it will not work at all.

Fact 5: Frankenmuth Credit Union does have our debit cards set up on Apple Pay. We are working diligently to also have our credit cards set up so they are available for Apple Pay.

How big will this mobile wallet revolution, and specifically Apple Pay, get? We would love to hear from you and your thoughts on Apple Pay or any other preferred mobile wallet solutions you would like to see.


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