How Apple Watch owners will be able to use their device to make payments has been demonstrated by Kevin Lynch (photo), Apple’s VP of Technology, at the company’s Spring Forward launch event (starting with 71’35 min.)
“If you go to lunch and want to pick up dinner on the way home, you might go to Whole Foods,” he explained. “You can use Apple Watch to actually pay for things while you’re checking out. I’ve got my credit cards right inside my watch. To bring one up, all I have to do is double tap the side button and it brings up my credit card and then I just put my watch near the merchant’s terminal and I’ve paid, that’s it, I’m done. It’s super simple to pay with Apple Watch.”
Apple Watch does not include a Touch ID fingerprint sensor but it does include both NFC and a biosensor that is used to prove that an authorized card or key holder is physically present when a transaction is made, the company revealed at the initial unveiling of the device in September 2014.
To make a payment, the company added, “just double-click the button below the Digital Crown and hold the face of your Apple Watch near the contactless reader. A gentle pulse and beep confirm that your payment information was sent.”
The Apple watch can be seen at Apple Stores in Australia, Canada, China, France, Germany, Hong Kong, Japan, the UK and the US from 10 April, and the device will go on general sale from 24 April. Three models will be available in various colours and finishes from US$349, with gold alloy versions “starting at $10,000.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
