Apple Pay arrived in Argentina: how to pay with the iPhone and what advantages does it have

The Apple Pay system, which allows you to pay by bringing your iPhone mobile phone closer to the payment terminal, is now available in Argentina with the cards of various banks. The payment platform can be found in supermarkets, pharmacies, taxis, restaurants, cafes and retailers, among other places. However, it should be borne in mind that it can only be used in merchants that have the POS device with contactless technology to receive payment.

The app will compete with virtual wallets. But unlike the payment system by QR code, such as that used by MercadoPago, Uala, Modo or other wallets, Apple Pay uses NFC technology, payment by approximation, a method used by various credit and debit cards in the country, and the SUBE card.

Which banks does Apple Pay work with

According to market sources, Apple Pay will work - at least until now - with Visa debit or credit cards from the following banks: Patagonia, BBVA, Brubank, Galicia, ICBC and Macro. It will also be available to Mastercard holders from BBVA, Galicia and soon Ualá, while other issuers are preparing its launch.

How to configure the app in simple steps

For iPhone users, simply open the Wallet app, press “+”, and follow the steps to add Visa credit or debit cards.

Once the user has added their card to the iPhone, Apple Watch, iPad, and MAC, they are enabled to start using Apple Pay on that device instantly.

How to pay with the app

To pay through the platform, users only need to bring their iPhone (model iPhone 6 or later) or Apple Watch devices close to the payment terminal to make the contactless subscription. The purchase is then authenticated through facial recognition, fingerprint reading or device security code, as well as a unique, single-use dynamic security code.

It should be noted that when customers use a credit or debit card with Apple Pay, the actual card numbers are not recorded on the device or on Apple's servers. A unique device account number is assigned, which is then encrypted and securely stored on a certified chip.

What are the benefits of Apple Pay

According to Prisma Medios de Pago and Visa, this is a more secure and private way to pay that “helps people avoid handing over their credit card to a third party, touching physical buttons or exchanging cash, and uses the power of iPhone to protect every transaction.”

“Security and privacy are the main focus of Apple Pay. When users use credit or debit cards with Apple Pay, the card number is not recorded on the device or on Apple's servers. Instead, a unique account number is assigned to the device that is encrypted and securely stored in Secure Element, an industry-standard certified chip designed to store payment information securely on the device,” they explained.

The general manager of Visa for Argentina and Southern Cone, Gabriela Renaudo, highlighted that the new system “accelerates the shift from cash to digital payments, while expanding consumers' access to a fast, secure, convenient and transformative payment experience.”

And in turn, the president of Mastercard for Southern Cone, Agustín Beccar Varela, said: “Increasingly, consumers are opting for digital payment experiences that are fast, contactless and that allow them to choose how they want to pay in each situation.”

“Our commitment at Mastercard is to make innovative payment options accessible to more and more people. Without a doubt, this launch is great news for Mastercard customers who will appreciate the convenience of making their payments safely and seamlessly from their iPhone or Apple Watch,” he said.

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