Citi, Bank of America, Capital One, Wells Fargo, Chase many more banks. 83% of credit cards purchase. Works with 220,000 us merchants. Walgreens, Duane Reade, Macy’s, Bloomingdales, Staples, Subway, McDonalds (including Drive Through).
When you go to a physical location, Apple doesn’t know what you bought, where you bought it, or how much you paid. Transaction is between you, the merchant and your bank.
If iPhone is lost or stolen, Find My iPhone can suspend all payments. Since card number is never stored on the device, no need to cancel credit card.
Card number is never stored nor shared. Stored in Secure Element. Uses one-time number and dynamic security code.