This week Apple has unveiled its latest products: the much-anticipated iPhone 6, iPhone 6 Plus, the Apple Watch and a new payment system called Apple Pay. The new system works with near field communication (NFC) technology and it is in partnership with the most important credit card companies like Visa, MasterCard and American Express. The new Apple Pay will also be available for a number of retailers in the US.
The credit card giant Visa said that the new payment system from Apple is a “pivotal moment” for retailers who are looking for an intuitive shopping experience.
Apple Pay is only available in the US for now and has made partnerships with more than 220,000 retailers so far. Although the new payment system has been received with acclaim there are many retailers that are not yet compatible with the NFC technology, which means that one cannot use Apple Pay for payments in many stores. Hopefully, this will change in the near future and most of the retailers will implement the new Apple Pay system.
Jon White, Visa Europe representative said that Apple Pay will encourage many retailers to go with the NFC payment. He went on and praised Apple’s new innovative system saying that Apple Pay is a high quality software. He said that,
“Apple’s entry into the mobile payments ecosystem is a great booster for everyone. Clearly Apple entering into this space is a great incentive for retailers who haven’t got on board with contactless acceptance. Hopefully, that sends a message to everyone thinking about smart, intuitive commerce experiences… [and] starts to inspire, and get marketers thinking about what Apple’s implementation will look like.”
What are your thoughts on the new payment system from Apple, the Apple Pay? Would you trust it? Share your thoughts in the comment section below.