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Glossary

Apple Pay

Mobile wallet by Apple that tokenizes cards for contactless and in-app payments.

POSE-Commerce

Apple Pay stores cards in the wallet and uses device biometrics plus network tokenization to secure payments. At POS it uses NFC; in apps and web it uses device tokens to authorize via the card network.

Benefits: fewer declined cards, stronger authentication, and reduced exposure of raw PANs. Merchants see Apple Pay as a card transaction, with costs driven by underlying credit or debit rails.

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Related terms

Keep learning with these nearby definitions.

Acquirer
Bank or payment institution that signs merchants and routes their card transactions into the card networks.
Card Fraud
Unauthorized card use or theft of credentials to initiate transactions.
Card Network
Payment network (e.g., Visa/Mastercard) that sets rules and routes card transactions between issuers and acquirers.
Chargeback
A forced payment reversal initiated by the cardholder’s bank after disputing a transaction.
Apple Pay