why would I want to use apple pay over my actual card? Why am I putting another middle man in. Its easier to whip out my card than it is to whip out my phone. What are the actual benefits? I can understand if one owns an apple watch. But otherwise whats the point?
Good question, sharfoe.
I think Apple simply regard Apple Pay as another useful feature for those who want to use it. Frankly, I wouldn't. I like to receive my monthly bill from the CC company, check it off against the receipts and have a copy filed at home. I'm sure you know that it is wise to back up all significant matter, not once but twice, all of which underlines the value of an organised household file. Paperwork is not passé, it's an excellent backup.
As Jonathan states below, you can still perform your checks against the statements. You have the option of getting a paper receipt, but you also have a secondary backup as the wallet app will provide you with a list of your recent transactions within the app.
I use it to avoid having to hand my card to people and having someone see the number. As an employee within the credit card industry we are warned all the time of ways in which people steal credit card numbers. Just removing your card from your wallet in the presence of other humans (or even security cameras) puts you at risk of having the number stolen.
"What about RFID scanners" one might ask... Well, first off, it's NFC, not RFID, meaning the range is greatly reduced so someone would have to be standing right next to you with a scanner practically touching your phone to get the number. And lets say invisible man does so.. now what.. he's got your digital card number right? Wrong. He has a useless card number. When you register your card with Apple Pay, the app uses an algorithm that takes the card number and the device ID and creates a unique card number that will only work from that device. Add a card and look at the info within the app... There is the last four digits of your card number and the last four digits of a "Device Account Number". The Device Account number can only be used on that device, any attempt to create a fake card or add it to someone else's wallet and the transactions will fail.
In short, it's more secure. Someone stealing your card has free reign to buy whatever they want until you notice it missing and report it to your bank. Someone stealing your iPhone, will also need to steal your fingerprint to use the card on Apple Pay. And someone stealing your Device Account Number has just wasted their afternoon trying to figure out how to do it without you noticing.
seventy one wrote:
.. I like to receive my monthly bill from the CC company, check it off against the receipts and have a copy filed at home.
You can continue to do that when using Apple Pay.
All transactions are still charged to your card account individually. They are also confirmed, in due course, on the statements that are issued by your card issuer (whether in paper or electronic form, depending on how you have chosen to receive them).
You can also still request a receipt from the merchant (if they do not provide you with one automatically).
The transaction description for a purchase at any given merchant may differ, depending on whether you paid via Apple Pay or using the card directly.
For example, the difference between using Apple Pay and using the card directly at McDonald's may be reflected as follows on a card statement:
Paid via Apple Pay:
Paid via card:
I guess it depends on each person's preferences. I tend to wear dresses (with no pockets) and have a small handbag so I prefer not to have all my cards with me. That's why I use Wallet : I always have my iPhone, so there is no need for me to have the cards with me. My financial institution does not support Apple Pay and the like, but if they did I would have one less card to bring along everywhere. Also I normally have my iPhone in my hand or very near because I'm listening to music or a podcast.
Also, sometimes people forget their cards at a store. I would never forget my iPhone, so if everything is on my iPhone, there is no card for me to lose.
The iPhone has thousands of features; not every feature is for everyone. I just pick and choose what I want to use.
The simplest answer to your question- major benefit is security. Let me explain. When you use your actual card- your card numbers gets passed through all payment networks and if your number gets compromised (stolen by crooks) and sold on a black market, then there will be fraudulent charges on your account potentially and your bank will send you a replacement card.
However when you use it in Apple Pay, your card gets assigned a token (a new card number) that will be exchanged between payment networks when you make a purchase. In case this token numbers gets compromised, first of all this number can not be used as a regular credit/debit card, and in a case it will somehow be used fraudulently, all your bank needs to do is remove the token from their database without issuing you a new card number.
So at the end, using apple pay will save you a headache of needing to contact your companies (like gyms or cable company or cell phone) and get them a new card number if you card gets compromised and no need to deal with fraud on your card as well.
Hope it makes sense.
why would I want to use apple pay over my actual card?
