What is Apple Pay?
Apple Pay is a new and convenient way for you to virtually manage your credit and debit cards. Apple Pay changes the way you pay with breakthrough contactless payment technology and unique security features built right into your Apple™ device. This technology allows you to make purchases with your iPhone® 6 or iPhone 6 Plus® by holding your phone near a contactless reader for transactions that are simple, secure, and private.
Are my Payments Safe with Apple Pay?
When cardholders add a PenFed card to Apple Pay, the actual card numbers are not stored on the device, or on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code, instead of using the security code from the back of your card, creating a secure transaction where your name, actual card number, and security code is never revealed to merchants. Therefore, your financial information remains in your hands while making purchases is simple.
So, how do I make purchases with Apple Pay?
After you’ve enrolled your card, using Apple Pay is as simple as three easy steps:
- Look for the contactless reader at checkout and hold your device near it.
- Place your finger on the Touch IDTM or enter the passcode for your device.
- Wait for the vibration and beep.
What does all this mean for PenFed members?
This is just one more option that we have provided to make your membership with us more convenient. Enjoy all the benefits of your favorite PenFed cards using Apple Pay.
Get started today!