I wonder how this will effect Smarttrans future in China?...

I wonder how this will effect Smarttrans future in China?

http://metro.co.uk/2015/07/14/all-you-need-to-know-about-apple-pay-5294672/

All you need to know about Apple Pay



Richard Hartley-Parkinson for Metro.co.ukTuesday 14 Jul 2015 7:31 am

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Now you can pay for things with your phone (Picture: PA)
Anyone in the UK with an iPhone 6, 6 Plus, or Apple Watch will be able to use them to pay for things from today.
The ‘tap-and-pay’ system has finally been rolled out across the country and you can use it wherever there’s a contactless payment option including in supermarkets and on Oyster card readers.
It’s not an official launch, but memos from at least one supermarket and an HSBC tweet confirmed today as the date for the launch.
Here’s what you need to know about Apple Pay.
What does the launch of Apple Pay mean?
People with an iPhone 6, an iPhone 6 Plus or an Apple Watch will be able to use these devices to make purchases in places that accept contactless payments.
At launch, more than 250,000 locations will accept Apple Pay, including Boots, Costa Coffee, Lidl, Marks & Spencer and the Post Office.
London commuters will also be able to use Apple Pay, which will be accepted by Transport for London.
When paying for goods and services within apps, Apple Pay is compatible with the iPhone 6, iPhone 6 Plus, iPad Air 2 and the iPad mini 3.
MORE: WWDC 2015 round-up: Apple Pay in the UK, new iOS and OS X and Apple Music too
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You will be able to pay for travel on London Underground with your Apple Watch instead of your Oyster (Picture: Getty)
How do I use Apple Pay to make a contactless payment?
Users of the iPhone need to hold it near a contactless reader while keeping a finger on Touch ID.
To make a payment from their wrist, Apple Watch users need to double click the side button and hold the face up to the contactless reader.
Is the transaction limit for Apple Pay the same as contactless cards?
Yes, according to the banks partnering with Apple on the launch. Like other contactless services, the limit will initially be capped at £20 at most retailers, although this is set to rise to £30 in September.
However, some retailers will be able to exceed this limit as part of their launch agreement with Apple.

Places where you can go over the £20 cap

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Apple Pay users will authorise larger payments using the iPhone’s fingerprint recognition (Picture: Getty)
How secure is Apple Pay?
Apple Pay claim security and privacy are at the centre of how it operates.
When adding a credit or debit card to Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers.
Instead, each transaction is authorised with a ‘one-time unique dynamic security code’.
Which card companies and banks are supporting Apple Pay?
Apple Pay will support UK credit and debit cards from American Express, MasterCard and Visa Europe, issued by banks or building societies NatWest, Nationwide Building Society, RBS, Santander, Ulster Bank, AMEX and MSNA with First Direct and HSBC getting added later in July. As yet, Barclays has not said if it will support the new technology.
Others which are expected to come on board soon include Bank of Scotland, Coutts, Halifax, Lloyds Bank, M&S Bank and TSB.
How popular are contactless payments generally?
The use of contactless payments has grown rapidly over the last year as people have increasingly found them a simple and convenient way to pay, rather than having to scrabble around for spare change.
According to a recent report from the UK Cards Association, 2014 saw a ‘rapid growth’ in contactless card use, with £2.32billion of spending. More contactless transactions took place during the first nine months of the year than the previous six years combined.
On average, it takes half a second to tap and go with a contactless card while it takes seven seconds to pay by chip and pin, according to figures recently released by the British Bankers’ Association (BBA).
As consumers’ appetite for contactless continues to grow, Barclaycard recently launched new a range of contactless devices that people can wear, called ‘bPay’, comprising of wristbands, fobs and stickers.


Read more: http://metro.co.uk/2015/07/14/all-you-need-to-know-about-apple-pay-5294672/#ixzz3fs0aii2J