Apple Pay is pretty awesome. If you didn’t know what Apple Pay is, you can put your debit or credit card into your iPhone and then use your iPhone and Fingerprint to pay for the stuff you buy. But there is sort of war going on. I read in an article that how like Walmart, CVS, Best Buy and few more stores like that are going against Apple Pay and NFC in general meanwhile they are adopting their system of paying with your phone which is called CURRENTC and that is using QR Codes which is you take a picture of code and show it to the cashier to pay. It is not like NFC where you can just hold your Phone near the terminal and do the payment which is easy.
They are going against Apple Pay because they don’t like it. They do not want Apple to take over the mobile payment market. They want their system of mobile payment to go worldwide and get adopted instead of Apple Pay. CURRENTC is not going to be take another year or so to be available because it is still under development. So, in short, they are making it worst experience for their costumers because they can’t use their phone to pay for stuff.
Truth About Apple Pay
Think about how much control Apple is going to have on people’s money once Apple Pay goes more successful and mainstream, and almost every store accepts it. Like those iPhones sold out and people started purchasing apps and Apple took control of their money. Not literally but a sort of.
Think about this. You are putting your debit or credit card in their and you are paying for everything through Apple Pay, it goes through Apple. Apple has a secure system. You do not give your credit card number or information directly to the store to pay instead Apple Pay creates a secure code which is used instead. This is somehow safe? Apple servers can be hacked but hackers will not be able to get any information because of the encrypted content. Apple makes it secure to keep the privacy of their costumers.
Every time someone uses Apple Pay and does transaction, Apple is going to get a small amount (0.15% that is 15 cents on $100) cut off it. Now that may not seem huge to you at first but think of how many people daily use their credit cards and swipe them to do transactions and pay for stuff, this number is huge. In future, technology is going to get adopted and no matter how much you hate Apple but you have to admit that Apple products, more specifically Apple Pay is going get adopted fast. Think of all the people doing transactions and payments with Apple Pay and the money Apple can make off of these transactions. This is the Truth About Apple Pay.
You can not just use Apple Pay to buy things in physical store, but you can use Apple Pay to pay for the things you buy online. You can use Apple pay in Target App, you can pay for a ride you take on Uber, book reservations in OpenTable, and even shop this winter in Pose using Apple Pay. That are few of a lot apps that support Apple Pay and this is a huge start of mobile transactions that are safe.
Apple is going to control every transaction you do on your debit card and credit card and people will happily let them take control because of how easy and secure it is to pay with your iPhone instead swiping your credit or debit card. Apple is a very smart company, and who knows, Apple Pay might be the next big thing for Apple. I like Apple Pay because it is easy, convenient and secure, and I want it to be a thing in the future which is probably going to happen anyways.