7 Facts About 'Apple Pay' Service Releasing In October For iPhone 6, iPhone 6 Plus

During the introduction of Apple iPhone 6 and iPhone 6 Plus, the Cupertino-based company provided a glimpse of Apple Pay as well. Apple Pay is Apple's brand new mobile-based payment service. This service will be rolled out to iPhone 6 users starting October, according to MacRumors. Here is a list of pointers from MacRumors regarding the upcoming Apple Pay service that iPhone 6 and iPhone 6 Plus users should know.

1. Apple Pay service in iPhone 6 and iPhone 6 Plus can be used to make mobile payments for goods and services. The payments can be made in stores and also through apps with the help of the NFC chip housed under the device's hood. Notably, this is the first time Apple devices have NFC support.

2. Even though Apple Pay service can be used only by iPhone 6 and iPhone 6 Plus users, eventually the service will be available for iPhone 5, iPhone 5C and iPhone 5S. However, users of the iPhone 5 series devices may have to buy Apple Watch to enjoy the service.

3. Although there are many mobile-based payment systems available, Apple has declared that Apple Pay is the most secure payment service ever introduced, MacRumors reports. This is primarily because Apple Pay uses "Device Account Numbers" instead of the actual credit card digits. The account numbers and the payment details are also stored in a specialised chip on the iPhone itself, and this chip is called the "Secure Element" by Apple. To further tighten security, Tokenization (also known as dynamic security code) housed in the NFC chip will be used.

4. The payments made with the help of Apple Pay system are authorised using the fingerprint scanner (Touch ID). This way, even if the iPhone is stolen, unauthorised finger prints cannot be used to make a payment. Moreover, the mobile-based payment capability can be disabled with the help of "Find My iPhone" feature in the iPhones, in case the device is stolen.

5. Interestingly, Apple Watch can also be used to authorise a purchase. This can be done with the help of monitoring skin contact. Upon wearing the Apple Watch, the purchaser will be prompted to provide a passcode. Once the passcode is entered, the purchase will be accepted if the smartwatch continues to have contact with the skin. How will the payment track the contact with the skin? Reportedly, Apple will use heart rate sensors to monitor the aforementioned way of payment.

6. Furthermore, according to MacRumors, when the Apple Pay service becomes official, a total of 200,000 locations in the U.S. will start accepting the payment via iPhone 6 models. The partners include McDonald's, Macy's, Bloomingdales, Duane Reade, Staples, Subway, Walgreens, Whole Foods, Disney Stores, Disney World and Apple Stores.

7. For every purchase made via Apple Pay service, the reported cut for Apple is 0.15 percent, which translates to 15 cents for every $100 purchase, reports the same publication. According to Apple, the Apple Pay system will be enabled in the iPhone 6 models via a software update to iOS 8 from October.

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