There have been many attempts at mobile wallet products over the years, from letting your phone simulate a swipe of your magnetic strip through NFC-based replication of contactless cards to the laughable CurrentC that relies on scanned QR codes. Over on Android phones, there’s Google Wallet, Android Pay and Samsung Pay – along with a whole slew of smaller competitors.
But for iPhone users, Apple Pay is the undisputed champion. Security is unrivalled. Your card details are never stored at all, replaced with a unique Device Account Number. That number is stored in the Secure Enclave. And a one-time code is generated for every single transaction.
Convenience too is maximized. iPhone users need only hold out their iPhone with their thumb or finger on the Touch ID button, while Apple Watch owners simply raise their wrist to the reader. I didn’t think there was any way to improve on it, but Google may be about to prove me wrong with its Hands Free serv
