Apple unveils ApplePay mobile wallet

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Apple unveiled a new mobile wallet on Tuesday aimed at allowing consumers to use iPhones linked to credit cards for more secure, convenient payments.

Apple chief Tim Cook said the ApplePay system would replace an “antiquated payment process” with “an entirely new payment system” that allows consumers to touch their phones to retail terminals.

The new payment system will be built into the new iPhones and Apple’s operating system which were also unveiled Thursday.

Cook said that each day in the United States alone “that’s 200 million times that we scramble through our credit cards and go through what is a fairly antiquated payment process.”

He said other efforts have failed because the companies introducing mobile wallets were working on the basis of “their self-interest” instead of the user experience.

Cook showed a video of a consumer tapping a phone on a payment terminal, commenting, “it’s so cool.”

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  • Gitonga Mutuiri

    Oh my oh my, this is the beginning of the end, what special qualities, apart from losing, does Moyes have? The only good Moyes I know is Bill Moyes….so long as he’s interviewing Joseph Campbell. This is a tragedy to the team I love. I switch to cricket.

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