How Do These Systems Actually Work?
Mobile payments are here to stay, and keeping up to date with all the different services and trends can be daunting. What security do they offer? How easy is it to do? These are just some of the common questions asked. The biggest question, however, is how it all works. With Google Wallet, the company issues the consumer a Google Wallet Virtual Card that acts as an intermediary between the customer’s preferred card and the merchant. Apple Pay, on the other hand, doesn’t need an intermediary; Apple uses a token as a proxy for a real credit card number that is device-specific.