Surpassing 1 Million Users in One Day
Payment Without Directly Touching the Device... Security Strength
'Flaw' Traffic Card Not Supported
[Asia Economy Reporter Oh Su-yeon] Apple Pay has gained sensational popularity by surpassing 1 million registered users in just one day since its launch on the 21st. We looked into Apple Pay from preparation to usage.
The essentials are an iPhone and a Hyundai Card. The iPhone must be a device released after 2014 to be used. Only Visa, MasterCard, domestic credit cards, and check cards issued by Hyundai Card can be used. Open the Wallet application (app) on the iPhone and tap 'Add Card,' then the Hyundai Card 'App Card' will automatically link, allowing you to register the card to Apple Pay. Alternatively, you can activate the Apple Pay feature in the Hyundai Card app. There is no need to take out the physical card during registration.
Usage is also simple. When using Apple Pay with an iPhone or Apple Watch, press the side button twice and then bring the iPhone close to the near-field communication (NFC) payment terminal.
At first glance, Apple Pay’s payment method is similar to Samsung Pay. However, Apple Pay uses NFC, while Samsung Pay uses both Magnetic Secure Transmission (MST) and NFC. NFC payment transmits information based on near-field wireless communication. MST is a technology that sends information via a magnetic field; when you hold your smartphone near the card reader where you swipe a credit card, it sends information through the magnetic field to complete the payment. Apple Pay feels simpler because you just press the side button twice when using it, unlike Samsung Pay, which requires swiping up from the bottom of the screen to bring up the card and then fingerprint authentication.
Apple Pay can be used not only on iPhones but also on Apple Watch, iPad, and Mac once registered. However, offline payments using NFC terminals are not possible on iPads or Macs. Only online payments using Face ID are available.
Security features are also a strength. All payments are authenticated through the user’s Face ID, Touch ID, or device passcode. Equipped with leading security technology, it protects user information, payment data, credit card, and check card information every time it is used. Card numbers are not stored on Apple servers or even on the user’s device. Instead, a unique Device Account Number (DAN) is generated, encrypted, and stored in the device’s internal Secure Element security chip. Even if the iPhone is lost or stolen, payments from the device can be quickly locked or suspended through the 'Find My' feature.
Currently, offline merchants where Apple Pay can be used include Costco, Twosome Place, Lotte Department Store, Homeplus, convenience stores, and more. Online, payments can be made via apps or websites such as Baedal Minjok, Musinsa, GS SHOP, Paul Bassett, and Lotte Cinema.
However, the transit card function is not yet supported, so a 'wallet-less life' remains distant for Apple users. To provide transit card functionality, partnerships with transit card companies like T-money and Cashbee are necessary, but such partnerships have not yet been established. Within the Shinsegae group, Apple Pay is not yet available except at Emart24.
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