3 PROS AND CONS OF APPLE PAY
Jul 14, 2015
Retailers, Apple lovers and tech geeks are gripped with excitement today, as Apple Pay is rolled out across the United Kingdom.
As with all new developments in technology, the sceptics are out in force. “What about security? Isn’t this just another part of our lives that is controlled by a multi-billion dollar corporation?”
We thought we would pay our two cents to the conversation (via Apple Pay, of course). So, these are what we believe to be the pros and cons of using the new service!
PROS OF APPLE PAY
Neither Apple, nor the retailer, can access your card details. Each device is given a Device Account Number by the banks and payment networks, which is transmitted at the contactless terminal in the shop along with a single-use cryptogram. This means your card details are kept safe – only the bank will have access to them.
It’s compatible with existing contactless pay terminals. Any retailer that currently accepts contactless payments should be able to accept Apple Pay. No need for new card machines!
It is easier to pay online. If you own one of the newest iPads, you will be able to make payments online by using your fingerprint.
CONS OF APPLE PAY
You need the iPhone 6 or Watch to use it. If you don’t have one of these and you want to use Apple Pay, you will have to upgrade your devices. Funny, that. You’ll also need and iPad Air 2 or iPad mini 3 to use the new online payment system.
Battery life. If you have forgotten your wallet, Apple Pay could be a lifesaver at lunchtime. But it could also be an added frustration if your iPhone suddenly dies! It also poses a more serious problem for commuters on the tube – if your battery dies during your journey, you will be charged the maximum amount for your journey automatically.
It’s not compatible with loyalty cards and branded credit cards. Apple Pay users in the U.S. have commented that you cannot always use Apple Pay alongside a loyalty card.
What are your thoughts on Apple Pay – do you side more with the pros or cons?