Apple Pay set to radically change commerce

11 years ago

“Last week, Apple announced two new iPhones that included Near Field Communication (NFC) for wireless payments for the first time,” Charles Nicholls writes for VentureBeat. “The company’s new Apple Pay service provides a full digital wallet for the iPhone 6 and 6 Plus, which enables consumers to pay by phone using NFC with simplicity. NFC Payments have been around a while, but Apple Pay has the potential to make widespread adoption of digital wallet payments a reality at last.”

“One thing that Apple is very good at is the ability to combine existing technologies in an innovative and compelling way that can transform a category. It looks set to do the same for mobile payments,” Nicholls writes. “In this case it is the intersection of four key Apple capabilities, combined with a very slick customer experience that makes this a game changer: Touch ID, Passbook, iTunes, and NFC.”

“Apple finally has a chance to succeed in making a phone a wallet. The user experience is very slick, as many have come to expect with Apple, and this will draw an influential and affluent new segment of consumers into NFC payments. Perhaps for the first time there, is a combination of factors that make this a likely winner,” Nicholls writes. “The iPhone 6 will be a success for the loyal and lucrative Apple fan base, and this looks like the beginning of a sea change in the way that we shop.”

Much more in the full article – recommended – here.

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