Re: Pros/Cons?
+ Faster than most EMV chip reader terminals. It's less than a second to use Apple Pay vs. sometimes 20-30sec with EMV chip.
+ Virtual card
number as opposed to your real debit/credit card number.
+ Works nearly everywhere/anywhere contactless payments are accepted.
+ TouchID security
+ Convenience of not having to take out your wallet.
+ Digital copy of your receipts.
- Not every merchant supports contactless payments; some that do still don't work reliably (i.e. McDonalds).
- Not every bank and credit union supports it for debit and/or credit cards. I have BofA, they support it for everything; meanwhile, my credit union only supports it for their credit card.
- Reinstall iOS, may have to re-setup your Apple Pay (secure).
- (Not uncommon) Some older contactless card readers don't actually work, or work reliably--not specifically an Apple Pay issue but just crummy terminals, you may have to bust out your wallet.