Following the recent launch of Apple Pay in Canada for American Express cardholders, Elavon is among the first payment processing companies to offer Apple Pay to Canadian businesses.
Apple Pay works with current Elavon EMV-contactless point-of-sale terminals in Canada. To pay, consumers hold their mobile device near the contactless reader; the payment information is then passed to the POS system once the consumer confirms the transaction using Touch ID on their device.
When a consumer adds a credit card to Apple Pay, the actual card numbers are not stored on the device, or on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and stored in the Secure Element on the device. Each transaction is authorized with a one-time unique dynamic security code.
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