On September 9th, Tim Cook introduced a complete game changer to the payments ecosystem, Apple Pay.
We found out that the new iPhone 6 and 6 Plus would have NFC, would include payment capabilities and could leverage already existing payment systems.
With the announcement of Apple Pay, it was pretty surprising that there wasn’t much about it that was new or original. While Apple Pay has eliminated the use of physical credit cards, it’s still all about utilizing the NFC.
In order for customers to get really hyped up about using Apple Pay in place of their plastic cards, they need more of an incentive other than tapping to pay.
Consumers pull out their credit cards and swipe because they know the process will work every single time at every single place they use it. For consumers, it comes down to three things they want in their payments method: dependability, convenience and security. This challenge might be a great opportunity for Apple Pay to reinvent the entire payment experience.
At the launch, Tim Cook showed everyone just how smooth and easy paying with the new iPhone and TouchID is truly is. But whether mainstream consumers will truly trust Apple Pay as a reliable and secure platform is still in question. The fact that the iOS 8 has been filled with bugs and caused complaints from many unhappy customers hasn’t helped their case.