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The Apple Pay system, which allows you to make payments by bringing your iPhone mobile phone closer to the payment terminal, is now available in Argentina with cards from various banks. Payment platforms can be found in supermarkets, pharmacies, taxis, restaurants, cafes and retail stores. However, it should be borne in mind that it can only be used for merchants who accept payments using POS devices with contactless technology.
This app will compete with virtual wallets. However, unlike QR code payment systems such as those used by Mercadopago, Uala, Modo or other wallets, Apple Pay uses NFC technology, approximate payments, methods used by various credit and debit cards in the country, and SUBE cards.
Which banks does Apple Pay work with?
According to market sources, Apple Pay will work at least until now as a Visa debit or credit card from banks such as Patagonia, BBVA, Brewbank, Galicia, ICBC and Macro. Mastercard holders from BBVA, Galicia and soon Ualá will also be available, and other issuers are preparing to launch.
How to configure an app in simple steps
For iPhone users, open the Wallet app, tap “+” and follow the steps to add a Visa credit or debit card.
When a user adds the card to their iPhone, Apple Watch, iPad, and MAC, they can immediately use Apple Pay on those devices.
How to pay with the app
To pay through the platform, users only need to bring their iPhone (model iPhone 6 or later) or Apple Watch device close to the payment terminal for contactless subscriptions. The purchase is then authenticated through a unique one-time dynamic security code, as well as facial recognition, fingerprint recognition, or device security code.
If a customer uses a credit or debit card with Apple Pay, the physical card number is not recorded on the device or Apple servers. A unique device account number is assigned, which is encrypted and stored securely on an authenticated chip.
What are the advantages of Apple Pay?
According to Prisma Medios de Pago and Visa, this is a “safer and more private payment method that helps people avoid transferring credit cards to third parties, touching physical buttons or exchanging cash, and using the power of the iPhone to protect all transactions.”
“Security and privacy are the main focus of Apple Pay. When a user uses a credit or debit card with Apple Pay, the card number is not recorded on the device or Apple server.Instead, the device is assigned a unique account number that is encrypted and securely stored in Secure Element, an industry-standard authentication chip designed to securely store payment information on the device.” I explained that.
Gabriela Renaudo, general manager of Argentina and Southern Cone, stressed that the new system “accelerates the transition from cash to digital payments, while expanding consumer access to fast, secure, convenient and innovative payment experiences.”
And the President of the Southern Con Mastercard of Agustín Beccar Varela said: “Consumers are increasingly opting for digital payment experiences that are faster, contactless and allow them to choose a payment method in each situation.”
“Mastercard's commitment is to make innovative payment options available to more and more people. Without a doubt, this launch is good news for MasterCard customers who will appreciate the convenience of making payments on their iPhone or Apple Watch safely and smoothly.” He said.
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