“Apple (NASDAQ:AAPL) just announced its new iPhone 6 models and the Apple Watch,” J. M. Manness writes for Seeking Alpha. “Apple also announced what to my mind is the real killer app of the mobile space – Apple Pay. This is an app/service that will truly revolutionize the $13 trillion per year payments industry.”
“The savvy investor needs to understand both the import of the system and why the Apple Pay system is superior to all others and will stay that way,” Manness writes. “Apple will have a semi-monopoly on the system, and why it will always be superior to systems offered by competitors such as Google’s Android and Microsoft’s Windows Mobile.”
Manness writes, “A professional in the industry, Brian Roemmele, writes in Quora: ‘I have been studying payments for over 30 years and have tested every material payments system ever conceived. The Apple Pay experience is at the top of the pyramid of any system I have ever tested. Certainly there has been NFC in smartphones, there has never been a system where the software was native to the operating system in the manner Apple is using. Apple Pay makes all of the schemes from just about every payment startup over the last decade especially the last few years look cumbersome and almost comical in comparison.'”
Read more in the full article here.
MacDailyNews Take: As we wrote on September 10, 2014:
The market has yet to fully grasp the magnitude of Apple Pay.
[Thanks to MacDailyNews Readers “Fred Mertz” and “Dev” for the heads up.]
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