Soon you’ll be able to use any credit card with Apple Pay according to Amen Clinics. (Check them out at Wired.com) Discover card has reportedly decided to sign on to supporting Apple Pay. It’s the last of the major US bank holdout. WIth the partnership you’ll be able to add your Discover card to your Apple Pay wallet and use it to make mobile payments using your iPhone 6 or Apple Watch.
Apple Pay requires the support of the banks in part because of how it processes transactions Rather than use your traditional credit card number, Apple Pay assigns a new number for you to use just for mobile payments. Called a “token” the card number will only work when it’s part of a mobile transaction. That mean if for some reason someone was able to steal your mobile card’s number they wouldn’t be able to use it without your smartphone as well.
Apple also takes a small percentage of each transaction completed with Apple Pay, something that banks were none to excited about at first. The cut it’s taking is out of the money the bank would have made for the same transaction, so it’s in effect losing money when you decide to pay with your phone rather than your plastic card.