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Will Apple Legitimize Mobile Payments?
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Byurcan
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Byurcan,
User Rank: Author
9/10/2014 | 9:02:00 AM
Re: In the spotlight
You are right, many more people will adopt Apple Pay than other m-wallets simply because so many people jump on board whatever the latest Apple thing is and it gets so much hype. Most people in this country never heard of Isis until they had to change their name to avoid association with the militant group.

But ultimately, it will suceed or not whether it answers the ages-old question of if digital wallets are that much more suprior to the way we pay today to make enough people switch. There was a video during the presentation that was supposed to show how clumsy it is to pay with a regular card' Apple was trying to make it seem like paying with a card was like solving an algebra problem. But really, it's not that inconvenient. Digital wallets must opffer something more than just a cool new way to make a payment.
Greg MacSweeney
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Greg MacSweeney,
User Rank: Author
9/10/2014 | 6:34:25 AM
Finally!
I do think this will change the mobile payments landscape. And that change started yesterday. While we "live" in a world where we talk about mobile payments, mobile payments adoption and we live for news like this, most iPhone users don't. In fact, believe it or not, many never even considered using their phone to make a payment.

A little story: at back to school night yesterday, I was chatting with another parent about the Apple announcement. When we started talking about Apple Pay, the 2 other people in our conversation started asking all sorts of questions...."really? that would be so cool!" "I can't wait to try it." "I never thought about the phone that way." These weren't 2 Luddite flip phone users...both had iPhones.

The point is: Apple changed the conversation yesterday. And that was just with a press conference. Wait until the phones comes out.

 
KBurger
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KBurger,
User Rank: Author
9/9/2014 | 8:49:38 PM
In the spotlight
Apple has advantages and disadvantages that other mobile payments/wallets players don't have. On the one hand, Apple Pay probably has gotten more publicity and coverage in one day than MCX, Softcard (formerly Isis) and other m-payment schemes have gotten in 2 years. There Apple fans who will want to try out Apple Pay just because it's the latest & greatest from Apple. There's an instant cool factor. On the other hand, there will be tremendous scrutiny that the other m-payments players don't have. If there are glitches, they will be covered as intensively. What would be considered a bump in the road for other players will be considered a major screw-up by Apple. So maybe it will be similar to what we've seen with smartphones and tablets. Apple paves the way, dominates the market and then over time as customers learn they are more open to the alternatives.
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