October 28, 2014
Apple Pay was released to the public through an update to iOS 8.1 on Monday, October 20. Since its release, many marketers are wondering how this new-aged technology will change not only the way we pay for everyday items, but the ever-changing dynamics of mobile marketing.
According to Apple, paying in stores or within apps has never been easier with the release of Apple Pay. “Gone are the days of searching for your wallet. The wasted moments finding the right card. Now payments happen with a single touch.”
Also known as, “your wallet, without the wallet,” Apple Pay has already had an impact on the world by giving buyers an additional payment method, without the added trouble of having to search for a card or cash.
However, just as with any emerging technology, we’re not entirely sure how it will impact the market just yet.
According to an article from VentureBeat, Apple Pay will change how you pay with breakthrough contactless payment technology and unique security features built right into the devices you have with you every day.
So you can use your iPhone, unlike never before, to pay in a simple, secure, and private way.
The consensus of the experts they consulted with is that it will surely have an impact — but there are wide differences of opinion about the size of that impact and Apple Pay’s advantages vis-à-vis credit cards.
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