Apple’s newest feature, Apply Pay, is set to launch this month.  It allows owners of the iPhone 6 and iPhone 6 Plus and eventually those who have an Apple Watch to make payments with their Apple devices electronically.  Although a clearly well established company, Apply may have many problems breaking in this new technology.  As stated in Edward Baig’s article here, changing current consumer behavior such as, using tangible means of purchasing through cash and card payments, is “daunting”.  Likewise, I can see that the launch of this new Apply feature can pose many problems in the future.  Stolen phones could lead to financial crises which in turn could cause consumers to see this feature to have too high of a risk, and Apple should consider that although this may maximize efficiency, this feature weakens consumer purchasing power, making it less attractive in the eyes of a consumer (ie: we feel more power and significance when purchasing through a tangible payment such as, cash or card).  Apple Pay needs to set itself apart from similar payment methods such as, Paypal, to better their chances of a successful launch.  Apple should conjure up a software to make Apple Pay available to all Apple users, this will increase sales through more exposure.  Apple should also ensure expert financial security as this is undoubtedly on everyone’s mind.  Unless Apple Pay meets these two criteria, I fail to see any possibility of Apple Pay to be one of Apple’s successful features.

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Source: http://www.usatoday.com/story/tech/columnist/baig/2014/10/03/will-apple-pay-succeed/16535925/