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Apple Pay
A mobile payment and digital wallet service that allows users to make payments using their Apple device.
More Details
Apple Pay is a mobile payment and digital wallet service by Apple Inc. that allows users to make payments in person, in iOS apps, and on the web. It is available on devices running iOS 8.1 and later, including the iPhone, iPad, and Apple Watch. To use Apple Pay, you need to add a credit or debit card to the Wallet app on your device.
Example
If you are an Apple user, you can use Apple Pay on your iPhone to pay for groceries at a checkout register. To do this, you first need to add a credit or debit card to the Wallet app on your iPhone. Then, when you are ready to pay at the register, hold your iPhone near the payment terminal and use Touch ID or Face ID to confirm the payment.
Related Terms
Club Account
A type of savings account that is managed by a group of individuals for the purpose of saving money for a specific goal or event.
Prepayment
The issuing of payment for a bill or debt before the official due date.
Deposits
A sum of money that is placed into a financial account for the purpose of securing a product or service.