Reuters - Video

EDITION: U.S. | U.K. | IN

Money Clip

Will Apple Pay transform mobile payments?

Thursday, October 16, 2014 - 02:45

Wells Fargo Director of Mobile Brian Pearce explains why the bank is part of the mobile payment system and how it works.

▲ Hide Transcript

View Transcript

The iPhone six. It's bigger it's better. And you can pay your bills look it. To talk about this I have Brian -- who's the head of mobile at Wells Fargo -- thank you for coming thanks so much to supply this is an iPhone 5 because I have gotten classics yes but. I would wanna pay my bills that. You know what it's a great new innovation and a fantastic way that you can use your existing Wells Fargo credit and debit cards. You -- larger -- on the phone and then go to the point of sale and actually just happened -- it's really simple. And certainly congress -- Laguna and able -- e-commerce apps to have a simple really simple checkout experience for apple as well so. It's going to be so convenient and it's very very secure. Talking about security because. Convenient -- one thing but I think people are very reluctant to start paying bills that there. We know what we began this discussion apple partnership that was really our first priority was to really understand sort of safety and security solution. And so we were to go with them and I would come up with a great customer experience but one that's very secure as well. And basically this using a special one time credit card number that sits on your phone or debit card secure phone so it's really secure way to turn back. -- -- different credit card and the other credit cards yes although the number basically that is the number -- the phone uses is different -- number. Piece of plastic in your ball very very secure. And it basically easily able to be used one time so it's fantastic ways that we can venture transaction security. Now what I'm going to be pain for a mean obviously people been doing this the Starbucks -- along different ways but. What are the kind of transaction that you envision people doing there on. You know what there's really two different tax -- actually going to be able to do. So today by many places where it where you can go and actually swipe a credit card he built a -- now instead. And Apple's working the number of march and they've announced a large number merchants. Home including people like whole foods that are out there that you'll be Old -- pay and I suspect they'll be a lot of merchants that are coming. And they also -- to do. Terms actions approach is actually an -- So certain apps and -- announced like target.com. That at the launch you'll be able to -- to purchase inside the -- easier -- pay. Cars. Now what when I leave the country because that's always been a very frustrating thing for American consumers because of the way our chips work in our -- credit -- My going to be apologists overseas not at this point but might be a great thing than in the future but for now that those transactions we -- you start to we got to work on out of it it's coming. -- -- -- so much frank hears from us -- out. Thank you think for having me I'm learning how. This is writers.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Will Apple Pay transform mobile payments?

Thursday, October 16, 2014 - 02:45

Top News »

Most Popular »

Investing 201 »

Bond investors brace for the end of Fed stimulus Bond investors brace for the end of Fed...

Fri, Oct 10, 2014 - (4:03)

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, Oct 20, 2014 - (1:08)

Images of September Images of September

Wed, Oct 01, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)