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The moment that Apple fans have been waiting for is here: the release of Apple Pay. But you might be wondering if the service will accept your payment methods, particularly your Wells Fargo credit card.
When the mobile payment system comes online in October 2014, you can count on being able to use your card with just a touch — if you have an iPhone 6 or iPhone 6 Plus, of course. Let’s take a closer look at how it works.
About Apple Pay
When Apple Pay was announced at the company’s big unveiling event on Sept. 9, 2014, most folks in the technology world reacted with excitement, but not surprise. The mobile payment service was hotly anticipated, and now that it’s finally coming online, many expect it to change the way we pay forever.
If you’re not familiar with how Apple Pay works, it’s fairly straightforward: First, you’ll load your payment and store loyalty cards into the Passbook application. This involves taking a picture of each of your cards and uploading it to the app. If you typically use one card to pay for most of your purchases, you can select it as the default when you put its information into Passbook.
Then, if you’re shopping in a store that supports Apple Pay, you’ll hold your iPhone 6 or iPhone 6 Plus in close proximity to the payment terminal and make your payment with a tap of your finger. This touch will both verify your identity using Touch ID technology and authorize the card you’ve selected to be charged.
Because Apple Pay works with payment terminals by using near field communication (NFC) technology and comes with several layers of security built into each transaction, most experts expect it to be a safer way to pay than our current swipe-and-sign system.
As of October 2014, Apple Pay will be accepted at over 220,000 brick-and-mortar retailers nationwide, including:
- Whole Foods
You’ll also be able to use Apple Pay with some popular apps, including:
A few of our favorite credit cards from Wells Fargo
Not all credit card issuers are on board with Apple Pay just yet, but Wells Fargo credit card customers won’t have to wait. You’ll be able to use the new mobile payment system as soon as it comes to life, assuming you’ve purchased an iPhone 6 or iPhone 6 Plus.
You won’t have to worry about missing out on rewards when you use your Wells Fargo card with Apple Pay. Every time you authorize a mobile payment, it’s just as if you’d swiped the card. You’ll keep racking up the points or cash back every time you touch.
Nearly all Wells Fargo credit and debit cards will be Apple Pay compatible, but be sure to check with them if you have questions. Without further ado, here are a couple of the Nerds’ favorite credit cards from Wells Fargo:
Wells Fargo Propel World American Express
With the Wells Fargo Propel World American Express, traveling just got more rewarding. This card earns 3 points per dollar spent at airlines, 2 points per dollar spent at hotels, and 1 point per dollar spent on all other purchases. Plus, if you’re a Wells Fargo banking customer, you could get a rewards boost of 10%, 25% or 50%, depending on how much you have in assets. When it comes time to redeem your points, you can use them for travel, merchandise, gift cards and more.
One of the card’s unique features is its annual $100 airline incidentals credit — you can use this to pay for checked bags, in-flight purchases made directly through the airline and more. Also, the Wells Fargo Propel World American Express charges no foreign transaction fee and comes EMV chip-enabled with PIN capability.
The Wells Fargo Propel World American Express will get you started with a nice signup bonus: 40,000 points when you spend $3,000 in net purchases in the first 3 months. The annual fee is waived the first year and $175 every year thereafter, but remember that the airline incidentals credit partially offsets this.
Wells Fargo Propel 365 American Express® Card
If you do most of your spending at the pump and dining out with your family, the Wells Fargo Propel 365 American Express® Card is a good choice. With it, you’ll earn 3 points per dollar spent at gas stations, 2 points per dollar spent dining out in restaurants and 1 point per dollar spent on all other purchases. There’s no limit to the points you can earn. Plus, if you’re a Wells Fargo banking customer, you could get a rewards boost of 10%, 25% or 50%, depending on how much you have in assets. When it comes time to redeem your points, you can use them for travel, merchandise, gift cards and more.
The Wells Fargo Propel 365 American Express® Card also comes with a small signup bonus: Earn 20,000 bonus points when you spend $3,000 in net purchases in the first 3 months. The $0 for the first year, then $45. But if you spend a lot on gas, what you’re earning in rewards could easily outweigh this.
iPhone 6 image via Shutterstock