Apple Pay system, an alternative to credit cards has been officially launched in UK. Now top-notch shops in the region will allow this new tap-and-pay payment system.
Initially the payments will have a cap of £20 for contact-less payments made using credit / debit cards however ever these limits will be increased to £30. Apple pay will support larger transactions when user’s payment credentials are verified using Touch ID instead of having to enter a pin.
Currently Cards from First Direct, HSBC, NatWest, Nationwide Building Society, Royal Bank of Scotland, Santader and Ulster Bank supports the Apple Pay.
The Apple pay can be used locally on shops or Online. It works with iPhones, Apple Watches and uses NFC technology to send payment details. It has an additional security measure called the Tokenisation that ensures that the User payment info is not passed on. Moreover, the payment token is for one-use only for added security and are verified using Touch-ID Fingerprint.