Apple Pay Release Date for iPhone 5: Exclusive Updates Here

Apple Pay Release Date for iPhone 5: Exclusive Updates Here

Apple is known to come up with amazing technology and now it seems that they plan to venture into the payment system, and innovate the entire process with Apple Pay. According to various report, this new technology is all set to be introduced this month, and possibly in the event scheduled on October, 16.

So what will this new technology be all about? How many Apple devices will be supported by it? For now only Apple iPhone 6 and 6 Plus are designed to work with applications and NFC chip to make transactions using the Touch ID system. Phones can be placed near physical devices at merchant shops to make the payment in single touch. Apple believes that this technology will soon replace the old wallet and help people make transactions swift, easy, hassle free, and most importantly safe.

As far as the release date for other Apple devices is concerned, iPhone 5 will have to wait for a few months before the developers work on certain things. Obviously, there is no NFC chip in those devices, and the company is not really sure if they can manage to make this system secure enough without that.

However, other possibility is to connect the iPhone 5 devices with Apple Watch, which will be released early in 2015. These new watches will features mart technology along with NFC chips that will allow the users of iPhone 5, 5S, and 5C to use Apple Pay conveniently from next year.

When compared to traditional payment technology like credit card, debit, card, bank transfers, mobile cash, and several other, Apple Pay will be more secure and easy to use. However, it is going to take some time before merchants and retailers install the necessary applications and hardware to accept the payments. The process will definitely change things for better, but people will have to wait for at least a couple of years before it becomes as popular as the plastic money. Apparently, Apple has already talked with giants like MasterCard, Visa, and American Express for facilitating the payments with the help of several other banks in the US.     

 

 

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