Monday, May 29

Apple Pay arrives in Argentina: how the virtual wallet works and what benefits it offers

“Apple Pay is a payment system that replaces physical cards and cash in stores. It’s your money, raised to a new level of convenience, security and privacy. Available in Costa Rica, soon in Argentina and Peru,” he said. to know the signature. At the moment, the company did not provide further details.

In this way, the local ecosystem, which currently offers the MercadoPago, Ualá and MODO proposals, among others, will have to compete with one of the largest companies in the world.

How does it work

The Apple Pay digital wallet differs from the main local wallets since instead of QR it uses NFC (Near field communication) technology, placing itself within the segment of payments by approximation, a system used by credit and debit cards.

Once the company confirms the launch date, the user will be able to access the payment system from their iPhone and register their credit and debit card.

In this way, when you make a purchase in a physical store or in an e-commerce, you can bring the phone closer and make the payment through NFC.

According to the Bloomberg site, Tim Cook’s company is evaluating the possibility of implementing a program called Apple Pay Later that would allow users to pay in installments.