What is Apple Pay?

Apple Pay is a mobile payment and digital wallet service by Apple Inc. that lets users make payments using an iPhone, Apple Watch, iPad or Mac.

Apple users can store their cards in the digital wallet on their phone and use the phone to make purchases between the device and the terminal using Near Field Communication (NFC) technology. NFC is an industry-standard, contactless technology that’s designed to work only across short distances.


Apple Pay is in compliance with the latest EMV standards for tokenizing transactions, which leads to a more secure payment experience.

After the customer authenticates the transaction, the Secure Element provides their Device Account Number and a transaction-specific dynamic security code to the store’s point of sale terminal along with additional information needed to complete the transaction. Again, neither Apple nor the device sends the customer’s actual payment card number. Before the payment is approved, their bank, card issuer, or payment network can verify the payment information by checking the dynamic security code to make sure that it’s unique and tied to the customer’s device.