Apple , and while it doesn't mention Apple Pay, the document offers an in-depth analysis of how the mobile payments platform might work.
NFC technology allows you to use Apple Pay to pay for transactions by tapping your iPhone on a payment terminal. The U.S. Patent & Trademark Office published the application on Thursday, which was uncovered by AppleInsider.
The patent provides more details about the payment system that Apple Pay, which acts as a kind of secret communication between your iOS device and an NFC payment terminal. Instead of transferring your credit card data, the technology involves a “one-time token” that is decoded by the terminal at the point of sale. If someone gets their hands on this information, it’s useless because it only exists for one transaction.
You can read the full text of the patent here and with images here.
