Apple Pay –A New Payment Method
The launch of the Iphone 6 and 6 plus is dominating the smart phone market. According to many industry advisors, the most innovative promotion of Iphone 6 is Apple Pay mobile-payment technology, which enables Iphone owners to pay the bill using the fingerprint identification.
The Apple Pay is trying to replace the payment methods in shops and online. People prefer paying by credit cards because they find it inconvenient to take the wallets out and count the changes. However, paying by credit cards sometimes takes lot of time, for the reason that we need to input the PIN number, wait for the bills and sign our names. It would take around 30 seconds. However, by using Apple Pay, what we need is just putting the finger on the home button for around 6 seconds and everything is done.
Apple Pay is also trying to take the place of PayPal by offering a lower transaction fee to eBay.
What’s more, the Apple Pay would charge the credit-card issuing banks instead of customers for handling transactions. As a result, there is no reason for customers not to pay all kinds of fee by Apple Pay which is quicker and free.
Sources:
1.”Apple Pay was this week’s most revolutionary product.” The Verge. N.p., n.d. Web. 5 Oct. 2014. <http://www.theverge.com/2014/9/10/6132153/apple-pay-was-this-weeks-most-revolutionary-product>.
2.”Apple Pay to generate fees from banks, not merchants — report – CNET.” CNET. N.p., n.d. Web. 5 Oct. 2014. <http://www.cnet.com/news/apple-pay-to-generate-fees-from-banks-not-merchants-report-says/>.
3.Apple Pay is such a big deal that eBay already has had to change strategy.” Quartz. N.p., n.d. Web. 5 Oct. 2014. <http://qz.com/276360/apple-pay-is-such-a-big-deal-that-ebay-already-has-had-to-change-strategy/>.
4．Pictures:http://www.augmentedrealitytrends.com/wp-content/uploads/2014/09/Apple-Pay.jpg
