Recently, Apple launched Apple Pay (Apple to pay) at the press conference, Apple CEO Cook pointed out that according to the survey data analysis, annual credit card spending was $ 12 billion, credit transfers up to $ 200 million a day, but the credit card payment process is very tedious, such as: security authentication, data delivery and synchronization, etc. NFC-based Apple Pay with just one “press” to the terminal reader, you can easily complete the payment process. Meanwhile Cook said all payment information of Apple Pay is stored encrypted.
This is the first OS-level platform for payment services, more unique is that it is compatible with the current mainstream method of payment. This article is to interpret Apple Pay works and the changes brought to the developers from a developer’s view.
The primary thing is to understand the concept of a tokenization. Currently payment networks (Visa, MasterCard, Amex, etc.) have established a very busy token connection. Traditional token is worked on gateway side or trading platform end, network-level tokens can be said to be a new attempt.
E-commerce developers should be very familiar with the concept of a credit card key, the mode is to return a token based on a user encoded information for authentication. These key information usually comes from the electricity supplier payment gateway, but also used for credit card user’s archive information. We called this as a gateway tokenization. The characterized of this token is it only worked on a single merchant, the advantage is when a credit card records to be archived, the terminal don’t need information security review for a large load of user.
The following is the gateway token work flow chart: