Apple Pay to launch in the UK
Apple is to launch Apple Pay in the UK in July. The service will allow iPhone, iPad and Apple Watch owners to use their devices to make payments in shops and on the London Underground by holding them near a contactless reader. Apple Pay works by storing the owner’s credit card details in a dedicated chip on the device. When a purchase is made the device account number and a transaction-specific dynamic security code are used to process the payment; the actual credit card numbers are not shared with retailers or transmitted with the payment.