Apple unveils Apple Pay mobile payment systemApple has formally introduced its own mobile payment system, Apple Pay (also styled Pay). CEO Tim Cook described the “outdated and vulnerable magnetic stripe interface” on credit cards before introducing the system. A short demo was shown — twice — illustrating the ease and quickness of the payment process. Apple Pay uses NFC, Touch ID, and the new Secure Element chip to process transactions at compatible credit card terminals in…
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Apple unveils Apple Pay mobile payment system
