Apple announced a new mobile payments solution, Apple Pay, on Tuesday. The new tech will meld with the Passbook application.
The new payment system enables users to utilize the phone’s iSight camera to capture a picture of their card and add it to Passbook, where users can see all of their credit cards.
Apple will verify it behind the scenes and add it to your phone’s Passbook account so you can make payments at a retailer.Apple announced several merchants that will accept this system, including Macy’s, Whole Foods, Walgreens and Disney stores — and of course, Apple stores.
Many companies have tried to push mobile payment services, but none has caught on widely. Cook says that’s because the business models have been centered around companies’ self-interest instead of the user experience. The latter, Cook says, is “exactly what Apple does best.”
For security, the card number is stored only on the device. Each time you pay, a one-time card number is created to make the transaction.
The company’s explanation is confirmation of rumors that had circulating ahead of Tuesday’s event.
Passbook, sometimes referred to as a mobile wallet, has already been able to store coupons, boarding passes, event tickets, and other forms of mobile payment.
The Associated Press contributed to this report.