CNY Central Asks Rescuecom CEO About Apple Pay

CNY Central Talks About Apple Pay's Impact

Apple Pay: Is cash and credit a thing of the past?

CNYCentral.com
October 27, 2014


Apple debuted its new payment system, apple pay back in September that would allow customers to buy things by just holding their iPhone 6 or iPhone 6-plus devices up to readers installed by store merchants. This has left some to wonder will this eventually replace cash and credit cards and just how safe is it?

Apple calls it 'your wallet without the wallet.'

"So, this idea behind taking your credit card information and the merchant that you're at; mixing it together to create a number that allows the credit card company to process only that," says David Milman, CEO of Rescuecom.

Stores like Wegmans, Petco, Babies R Us, Panera Bread, Subway, McDonald's and many more are hopping on the virtual bandwagon. They're teaming up with Apple to install apple pay.

If you have the newest iPhone, you can tap your phone onto the apple pay device at checkout without dipping into your pocket. But, are shoppers ready to take the plunge?

"I'd love to carry something like that. It's quick, easy, and you don't have to carry around all that money," says Shelby Platten.

"I would probably consider it after it has been used for awhile," says Valerie Downs.

Whether you're dedicated to your phone or glued to your wallet, tech expert David Milman says pairing your iPhone with your credit card information is the way of the future.

"Today, it's a small market. Relatively, small. But, I heard forecast numbers upwards of 90 billion dollars a year for mobile payments right from your phone. And, its going to happen because it's more secure than handing over a piece of plastic," says Milman.

But, what if you lose your iPhone? Where does all your credit card information go? There's something called "Find my iPhone." It will actually put your phone into lost mode which can suspend apple pay. That means your information is safe and secure.

CVS and Rite Aid have disabled the new apple pay electronic system from their stores over the weekend. According to reports the companies have disabled apple pay because they have plans to build their own payment systems.

Google Reviews

Patricia Farr
Patricia Farr
in the last week
Rescuecom has once again rescued me. This time from a potential identity theft situation, and then a
...Rescuecom has once again rescued me. This time from a potential identity theft situation, and then after solving that, updating all security and operating systems. All with incredible patience and expertise in what for me was a very distressing situation. My level 3 tech Maddy spent literally days getting everything straightened out and David gave me some tips and advice that I have used. The technicians at Rescuecom are for me the best and most professional, and are always there to help quickly, with understanding and kindness, when you need them most. less
Carol Vaupel
Carol Vaupel
a month ago
I would give him 5 stars.
...I would give him 5 stars. less
Cynthia B. McCoy
Cynthia B. McCoy
a month ago
wonderrful
...wonderrful less
Sue Baran
Sue Baran
a month ago
Jim P. was very good in explaining why a call was inputted and explained the updates that he was goi
...Jim P. was very good in explaining why a call was inputted and explained the updates that he was going to do from both Windows and Rescuecom. After completed he helped with some boot up programs to be disabled to help give me a little more "speed" in startup. Great experience. less
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