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September 16, 2014

Will Apple Pay kill credit card swipe?

  • Apple Pay's presence on millions of iPhones and advanced security features could lead the switch to digital wallets.
    • By MAE ANDERSON
    AP Technology Writer

    NEW YORK — Apple wants the plastic credit card to become as rare as the paper check.

    On Tuesday, the company announced Apple Pay, a digital payment system that lets people pay for retail store purchases using their phones rather than cash or credit cards. The service, which will work both with iPhones and Apple's new Watch, is backed by a host of big retailers, along with most major banks and credit card issuers, including Visa, MasterCard and American Express.


     
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