Apple Pay and Google Pay are now available on Binance. It is the first crypto exchange to implement both mobile payment services. These two payment options give investors more choices in how they buy, sell, send, and receive cryptocurrency. Apple Pay is already available in many countries around the world. In Hong Kong, users can use Apple Pay at major banks, stores, and restaurants. It is also possible to transfer money from the mobile wallet to a bank account. Money can be added to an Apple Pay account in two ways: either by using a saved credit card or by directly transferring funds from an iPhone’s bank account.
The concept of Apple Pay was introduced in 2014 but only became available for users in 2016 as an additional payment option for apps on the iPhone 6 (and later) devices. Google Pay was launched by Alphabet Inc., the parent company of Google, in 2011 as Android Pay. The payment service enables Android users to pay for items in shops with their phones. According to Google, over one million locations have already been equipped to accept payments via Android Pay.
What Are Apple Pay And Google Pay?
Apple Pay and Google Pay are similar mobile payment systems that let you pay for things with your phone. You can use Apple Pay and Google Pay to make purchases in stores, in apps, and online. You can buy groceries, clothes, coffee, and so much more. With Apple Pay and Google Pay, you can leave your wallet at home and continue being on the go!
Apple Pay and Google Pay are very similar services, which allow for wireless transactions using an app on a smartphone. Both use a near-field communications (NFC) chip that is built into the phone. This chip can communicate directly with certain credit card terminals when the phone is within close range of the terminal. The NFC chip securely transmits your credit card number, expiration date, and security code from your phone to the merchant’s credit card terminal. This transaction takes place in less than one second and requires no physical contact between your phone and the credit card terminal.
Near-field communication
If you’re unfamiliar with near-field communication, it’s a device that allows two pieces of technology to communicate over a short distance. This is possible due to its location on the spectrum between contactless and wired technologies.
You’ve probably used NFC technology in your smartphone: it’s the chips that allow you to tap your phone against a machine for payment, or even tap your phone against another person’s phone to connect and transfer information. You might have also used NFC to transfer data from one device to another in order to share information about restaurants or other locations. Maybe you’ve seen someone tap their phone against something else in order to get some kind of special promotion or unlock a door.
The key benefits of using NFC are that it allows connected devices to transmit data without being physically connected, which means you don’t have any wires, ports, or plugs that can wear out or get damaged over time; and it allows for portable devices — like smartphones — to read and write data with little effort required on the part of the user.