What is Apple Pay and how does it work?

Covershot: What is Apple Pay and How Does it Work?This newly updated 12-page primer explains in clear and simple terms how Apple’s NFC-based mobile payment system works and makes an ideal fast introduction to Apple Pay for executives that are new to mobile payments.

Starting from first principles the guide offers an introduction to mobile payments and NFC and sets out to answer the question “what do service providers like banks and other financial institutions need to know about the technology?”

It then details the territories where Apple Pay can be used, and which devices can use it. Descriptions of Touch ID and Face ID follow, along with a step-by-step guide to the consumer experience when using the system.

The primer then looks at the security of the Apple Pay system and briefly explains the three key ingredients of tokenization, biometric authorization and embedded secure elements.

Finally, the document looks at the benefits of Apple Pay, both for consumers and for banks.

This primer has been produced and sponsored by Rambus and approved by the NFC World editorial team.

How to access this document

This 12-page document is available free of charge to NFC World Knowledge Centre members (PDF format, 5.2MB).

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This item is part of the Mobile Payments Knowledge Centre.