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Can you really buy drinks at the bar, or groceries in the supermarket with your watch? Yes, you can. Or, if you’re really worried about security, you could pull your phone out and authorize the payment with your fingerprint.

Introducing “Apple Pay”, with a question… is it just a gimmick or could it actually be useful?
 

What is Apple Pay and how does it work, and most importantly, is it safe?

It works the same as a Paypass / Paywave ‘tap and go’ card. In fact it uses the same technology so you just hold your phone or watch near the contactless register, then touch your finger to your phone screen so it can read your fingerprint. Or, if you’re using your Apple watch instead of digging your phone out, you’ll need to enter a 4 digit PIN.

Interestingly, Apple claim it’s actually safer and more private than using a card, because Apple doesn’t actually provide your card details to the merchant. It doesn’t even keep the data on your device. In addition, because Apple Pay has to be authorised by your financial institution, their usual fraud protections should also apply to any Apple Pay transaction. Of course if you lose your iPhone, you must notify your financial institution immediately. In that event, you can also suspend Apple Pay using Find My iPhone or your iCloud account.

At the time of writing you can only use Apple Pay with an ANZ Bank account, or linked to an American Express Essential Credit Card. This Amex card is proving very popular at the moment, perhaps because of Apple Pay. It also includes free Smartphone screen insurance, has zero annual fees, 0% on balance transfers for 12 months, and a relatively low interest rate of 14.99%.

If you’re an android user, don’t despair. ‘Android Tap and Pay’ does a similar job and each of the four major trading banks has their own app to facilitate it.

I’m not sure I’m ready to leave home without my wallet just yet but as well as a fast growing cohort of shops, restaurants and bars, most of the big players accept ANZ or AMEX Apple Pay, or Android Tap and Pay, including:

Bunnings Hoyts Shell
 Coles K-Mart Starbucks
David Jones McDonald’s Target
Harris Farm Myer Telstra
Harvey Norman Officeworks Woolworths

 

What are your thoughts?

Are you itching to try Apple Pay or Android Tap ?

Join the conversation — leave a comment below and let us know what you’re thoughts are.