Allums (2014) commented on the essential fact that with the modernization and introduction innovative technology and mobile phones, within some days, the phones or smart watches will become a good replacement of the wallet. In order to make the payments easy and instant, Apple, Google and Samsung has adopted a new technology of payment that depends on the NFC hardware. According to Ghag & Hegde (2012) in this process, the phone communicates without the wire with the payment terminal that is contactless and thereby only tapping to the device, payments can be done instantly. This involves simple waving or tapping the phone over the card reader instead of inserting or swapping the card. As a result, as per commented by Ahson & Ilyas (2012) usage of these modern payment systems prohibits the customers in carrying the debit or credit cards for payment purposes.
This assignment will be dealing with the software that is used in Apple Pay along with the working and functioning of it. Moreover, the software used for Google Wallet is also discussed along with its operation and functioning. This assignment also focuses on the essentiality of having both Apple Pay and Google Wallet in today’s emerging busy lifestyle along with the vivid comparison between Apple Pay and Google Wallet.
Coskun (2013) had mentioned that Apple Pay can be referred to as the digital wallet or mobile payment service that is made by Apple Inc. It facilitates the users in making payments through the wireless device rather than credit cards or debit cards. The Apple devices that are facilitated with this Apple Pay service are iPhone 6, iPhone 6 Plus, iPad Air 2, iPad Mini 3, Apple Watch and its compatible devices etc. As per commented by Ahson & Ilyas (2012) Apple Pay doesn’t need any kind of contactless terminals of payment and works with MasterCard’s PayPass, Visa’s PayWave as well as ExpressPay Terminals. The technologies that ate used in Apple Pay finger touch print technology, breakthrough contactless payment, Near Field Communications as well as Touch ID sensors. Ghag & Hegde (2012) commented that these technologies make the usage of Apple Pay secured, private and simple to use. Moreover, Apple Pay also successfully works on any mobile e-commerce sites that are easily accessed via iOS 8.x devices.
As mentioned by Gallo (2012) due to the presence of Near Field Communication technology, the users don’t even need to open the app or wake the display. This is because; holding the iPhone near the contactless reader by just touching the finger on the Touch ID makes a successful payment. Gallo (2012) commented that the users don’t require seeing the screen for knowing whether the payment is done or not as a beep and a delicate vibration will let the customers know about it. In the case of Apple Watch, the customers only need to double click the side button and hold the Apple Watch near the contactless reader and the payment will be done. Here also a gentle tone and a pulse will let the users know that payment is done successfully. Coskun (2013) mentioned that the when Apple Pay is used, an inimitable Device Account Number is consigned that is encrypted and fully secured. These numbers never get saved on the Apple servers and when the users make a transaction, then the Device Account Number as well as dynamic transaction-specific security code is used.
According to the opinion of Kim, Lee & Fang (2012) Apple Pay is an iOS supported mobile payment service that use the phone in making a valid and successful transaction on NFC facilitated credit card terminals at any POS (Point of Sale). The finger-print software in Apple devices helps in securing the cards and its details within the devices. Initially, the users need to enter the information of the credit card into the Passbook app of Apple. After that as per the outlook of Lance (2014) the users need to wave or tap the iPhone over the NFC supported POS terminal for initiating the payment. The NFC software also helps the payment reader to scan the details of the card that is necessary and essential without even swapping the card over the reader. Moreover, as per mentioned by Zeng (2012) the finger print software also facilitates the users in making a successful payment just by touching on the screen. The NFC that Apple uses for payment purpose generates radio communication for connecting the Apple devices with the transaction machine. This also helps in verification of the card details of the user for making a successful and secured communication.
Timberlake (2013) had an opinion that Apple devices follow a simple and most secured way of payment that facilitates the users for not carrying any kind of credit or debit cards for payment. The procedure for payment through Apple Pay is easy and is clearly demonstrated by the researcher. According to the outlook of Katz (2011) initially, after making purchase, the users bring the Apple device near the wireless transaction device and touch the screen. The transaction device will then automatically scans and read all the essential details from the card which is followed by the successful transaction. Gallo (2012) commented by the NFC thereby builds up a strong communication bridge between the Apple devices and the transaction device. The Touch ID technology will automatically verify the details of the user as well as the card. The NFC technologies are bets applicable for all kinds of cards such as debit card, credit card, Master Pay card etc. According to the outlook of Zhou (2015) the usage of Apple Pay facilitates the users so that the users do not require carrying any kind of credit cards or debiting cards. The NFC technology helps in making card-less as well as cashless payments along with transit payments. Moreover, as per commented by Coskun et al. (2011) the MST technology that is the Magnetic Secure Transmission helps in NFC tap and pay facility. It also facilitates making transactions online as well as offline with a guarantee of secured check-outs.
As commented by Zeng (2012) there are several uses of NFC technology such as Apple Pay facilitates Card-less Payment, Payment while transaction, Secure Checking out and facilitating both online as well as offline payments. The Membership along with the loyalty cards can also be purchased and also helps in proper verification and identification of the cards. As per the comment of Coskun (2013) Apple Pay is more or less like an electronic wallet to the users. In order to make the payments the users need to use the Touch ID as well as the security code where the transaction process needs a special code which is secured to the maximum extent.
As commented by Nelson (2011) the Apple Pay facilitates the usage of easy, secured and private ways for payment of services and goods. This also facilitates in easy clothing’s, tickets as well as uses transaction data that are stored in iOS devices. This makes the payment easy without involving the loose of any important detailing of the card. The card details as well as the personal details are not at all stored in the device. As per the opinion of Johnston (2013) the Apple Pay makes sure that the whole transaction is done successfully and also enhances the card less payment. Moreover, if the iPhone or iPad is ever lost, then the users can easily out the device in the Lost Mode that will suspend the Apple Pay immediately on that device.
Google Wallet is the oldest mobile wallet service that is available in the market in September, 2011. According to Kim, Lee & Fang (2012) the software that is being used in Google Wallet is NFC or Near Field Communication. The software that is been used the field communication technology assists the Google device in developing and maintaining wireless connection between the payment device as well as mobile device. According to the viewpoint of Ghag and Hegde (2012) the software and the technologies that are used by Google for operating securely are the security patterns and pins. This is because, the security pins as well as security patterns are thereby used for both awaking the mobile devices and later on verification of the card details as well as for the information. As mentioned by Jung (2014) the Google wallet mainly depends on the Near Field Communication Technology for secured online payment. The cards that enables NFC are Debit Master Card, Visa pay Wave POS and also enables withdrawal of funds with a compatible ATM. Gallo (2012) commented that the devices that are supported by Google Wallet are iOS 6, Android 4.4, LG, Motorola, HTC etc.
Resatsch (2010) commented on the essential fact that Google Wallet uses Near Field Communication or NFC just like Apple Pay. The steps of security are more strong and lengthy in case of Google Wallet. Google devices need to wake their devices before starting the transaction process. Moreover, the users also will need to enter the security pin that will help them in continuing the payment. According to the opinion and outlook of Park (2012) the Near Field Communication (NFC) technology will be helping the Google mobile devices in order to receive radio supported connection with the payment machine. The payment machine scans the card details and hence the payment becomes successful. As per commented by Ahson & Ilyas (2012) the Google Wallet facilitates the transaction on both online and offline basis. The Google wallet users also are provided with large number of options in order to make successful transactions.
The Android ginger bread devices along with IOS 6+ are the devices that can be used for Google Wallet. Moreover, as commented by Jung (2014) the Google wallet has more options on using cards and therefore the users also can use the balance amount for shopping purposes. The user can buy any product or service and hence the Google device can be kept in front of the wireless transaction device. According to the outlook of Lerner (2013) the security measures uses both the security pins as well as security patterns that will be helping in making payment along with awaking the devices. The online coupons, store loyalty coupons, credit and debit cards along with payback cards etc. can be easily used for proper functioning. Moreover, Zeng (2012) also commented that the additional features of Google wallet is the application of the adding money to Google wallet at any location. The similar features makes Google wallet unique in their approach. The transfer of money as well as addition of balance can be done with the help of the technology named Near Field Communication.
The activities that are performed Google wallet are that the providing automatic screen as well as application locks facility. Moreover as per mentioned by Coskun et al. (2011) the wallet pin security as well as monitoring process both are secured. The automatic lock facility of the app as well as the screen also helps in protection of both information and data. In contrast, Park (2012) also mentioned that the main disadvantage of using Google wallet is unlocking the app as well as locking it after using it. The Google wallet requires a 4 digit pin that will only be known to the users. According to the comment of Kolin (2013) the Google wallet is used on the Google smart device that has android operating system. As commented by Lance (2014) the Google wallet users performs transaction where the users initially need to awake as well as lock the screen and app. only by entering the security pin. This let the users swap their devices over the transaction devices. As a result, the devices scan and read the data that are required and hence also helps in monitoring the whole process.
In addition to this, as mentioned by Ghag and Hegde (2012) the password used by the company is a 4 digit one that helps in monitoring the whole transaction of the users. Google regularly monitors the whole process of the Google wallet users. The NFC that is used by Google wallet helps in wireless as well as card-less transactions. According to Zhou (2015) the NFC supported Google devices can also be used in the parking lot by the users. This also facilitates the non-carrying of the money as well as cards from one place to another. Irrespective of any place and location, Google wallet can be used most securely and easily by the users. As per mentioned by Allums (2014) the Google Wallet users will be using the phones over the transaction devices and hence secure transactions will be made. The radio connection that Near Field Communication Technology uses creates a connection between the Google device and the transaction device. After the secured connection is made, safe transactions are thereby done. In addition to this, as per commented by Zhou (2015) the security pin that is been created is also been verified by Google when used.
According to the opinion of Google Heads (2011) Google Wallet is used in order to make a secured payment by the users. This prevents the users in carrying cash and cards and only the presence of Google support android phone will do the privilege. The usage of this Google Wallet saves time as well as enhances the security of the transaction. Coskun et al. (2011) commented that the evolution of Google pay also has facilitated that if the device gets lost, then the user can immediately stop the service of Google wallet thereby facilitating the fraud and misplace of money.
With the introduction of Apple Pay and Goggle Wallet the fraud of the credit cards has decreased to the maximum extent. Allums (2014) commented on the fact that in case of Apple Pay the users need not wake up their screen whereas for Google Wallet, the users of Google wallet need to awake their screen. Google wallet is somewhat a replica of the original wallets.
Google wallet and Apple Pay both are used in order to make secured transaction for preventing fraud of the cards. Apple Pay uses both software and technology for security purposes. The Near Field Communication, Touch ID and touch finger print etc. are the software that are been used by both Apple Pay and Google Pay. The security pins for both Google Wallet as well as Apple Pay are four digit security pin that makes a secure and easy transaction. These wireless devices also can be used in the most secured way that will prevent the unauthorized access or 3rd party interference into the bank. Google Wallet awakes the screen whereas the Apple Pay need not awake the home screen. This assignment also deals with the both the advantages and disadvantages of Google Wallet as well as Apple Pay.
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