Apple Pay Makes Its Way To 8 New Countries

There was a time, not so long ago when all the payments were made in cash. Soon after, debit and credit cards were introduced which made the transaction process more swift, smooth and easy. Then came the internet banking which further paved ways for Mobile Payments. As a matter of fact, mobile payments aren’t new to the FinTech sector and they have been in use for almost a decade now. But a majority of people are still using traditional payment methods.

Apple Pay has emerged as a virtuous payment option that took Mobile Payments to new heights. Apple Pay was brought to light in October 2014 and since then it has gone through numerous upgrades, changes and enhancements. The NFC enabled Mobile Payment method that was initially offered in United States only, has now made its way to eight other countries including U.K, Australia, France, Switzerland, Hong Kong, Singapore, Canada and China. And if all goes as per plans, the Apple Pay services will soon be available in Spain also. So let’s see what Apple Pay is all about!

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What Is Apple Pay?

Apple Pay is a Mobile Payment method brought to you by Apple Inc. that enables you to make direct payments to various retailers and merchants using iPhone or Apple Smartwatch. Using the Apple Pay service, the users can swipe their iPhone or Smartwatch to the NFC enabled payment terminals that support Apple Pay. They can also scan their fingerprints in order to make secure payments instantly. The iPhone users can also link their credit or debit cards to their iTunes account. Millions of users have already done that and Apple hopes to persuade as many more as it can to grow its mobile payment network.

If you have your account linked to the iTunes, you can scan your debit or credit card using your iPhone’s camera and Apple will automatically verify it in order to complete the payment process.

How It Works?

Apple Pay uses the concept of Near Field Communication (NFC). The NFC technology has been around for quite a long time and there have been many use cases of this cutting-edge technology. One such remarkable application of NFC is instant Mobile Payments. Apple Pay enables the iPhone users to make all kinds of purchases just by pointing their Smartphone towards the NFC enabled payment terminals. To make it happen, Apple Inc. has installed a large number of Apple Pay supported payment terminals at different locations in United States and many other countries.

That’s How The Network Grew

The Apple Pay services were initially offered in United States only but now it has expanded to many other countries, stretching and strengthening the network all at once. By July 2016, the Apple Pay services were offered in four new countries including Hong Kong, Singapore, France and Switzerland. And now it is available in four other countries including U.K, Canada, Australia and China. Initially when Apple Pay was introduced, the mobile payment services offered by the former were available in just 220,000 locations in United States. And within less than two years, Apple Inc. announced the availability of Apple Pay in more than 2 million different locations in United States alone. And now the availability of Apple Pay in so many countries is a clear indication of what else might be coming in the next few years. Let’s just hope that the things work out well for Apple Pay and everyone could reap the benefits of this unique payment functionality.