Apple Mobile Payment was introduced to the public on Apple Event on Sept. 9 as an by-product(the main products are always the mobiles). Surprisingly, it is not difficult to find that the market expectation of Apple Pay exceeds that of mobiles or watch after browsing news websites. But why the market has such confidence on Apple Pay?

Let us recall the three core visions of payment and see how Apple Pay applys them. The first is zero risk. Apple Pay is a mobile payment method known as “card-not-present”. Compared with tradition online payments, Apple Pay allow users to trade by using fingerprint and device instead of account and password. This innovation immensely improve the security of transaction. The second comes to zero barrier. Apple Pay enables people to finish payments just in a few seconds, eliminating the head-achy payment barrier. The reconnaissance barrier is also wiped by Apple Pay since it uses mono-standard for payment access. The last one is zero rate. Apple is so influential that it could take advantage of its brand-power to drive commercial tenants to use the technology voluntarily, which means that Apple needn’t pay high B-side expenses.

Clearly, Apple Pay is worth high expectations.

Citation:

1.Maggie McGrath. “What Apple Pay Means For eBay And The Future Of Mobile Payments”. Forbes. Sept 9, 2014
http://www.forbes.com/sites/maggiemcgrath/2014/09/09/what-apple-pay-means-for-ebay-and-the-future-of-mobile-payments/

2.Stephen Lam. “The new iPhones handle nicely, but Apple Pay is why you should actually buy one”. QUARTZ. Sept 10, 2014
http://qz.com/262650/apple-iphone-pay-feature-is-why-to-buy-one/