Tim Cook’s Wiring Diagram
- When you add a card to Apple Pay, your actual credit card numbers are never stored in your device, or on our servers.
- Instead, for every payment, we create a unique one-time code that is only good for that one transaction from your device.
- Your purchases are private.
- And we don't store the details of those transactions.
- They remain between you, the merchant, and your bank.
- We don't know your credit card number.
- Or what you bought, or how much you paid.
And we don't want to.
Just three months after we launched, over 2,000 banks have signed on to bring Apple Pay to millions of their customers.
And today, we're excited to announce that beginning in September, Apple Pay will be available for many transactions with the federal government.
Like, for example, when you pay for admission to your favorite national park.
We're also working to make sure that credit and procurement cards issued to government employees for expenses can be used with Apple Pay and we're working on initiatives with leading banks and networks to use this technology with benefit programs like Social Security and veterans pensions that serve citizens of both the state and federal levels.
We can imagine a day in the not so distant future when your wallet becomes a remnant of the past.
Your passport, your driver's license, and other important documents, can be digitally stored in a way that is safe, secure, and easy to access.
But only by you.
After all, we shouldn't have to trade our security for the convenience of having all of this information at our fingertips.
When a system is designed properly, security and convenience can actually work in harmony.
This is a world of greater privacy.
And a world where criminals find it much more difficult to carry out their crimes.