If you need to see some of Apple’s live product announcements, you may have noticed that the company introduced a major innovation in the way Americans pay for things, the new iPhone 6, along with the Apple laptop watch, the integration of mobile payments, which in fact would allow the purchase products in the stores with only your device.
Mobile payments in the US can be a great innovation, updating one of the worst payment systems in the world and making trips to easier storage.
But there is one more thing: only Apple’s new products will be reimbursed. Your ability to use phones to pay for goods and services should not be limited to what phone you have, creating a separation between those with Apple and those without Apple.
There are compelling reasons for paying this form of mobile in the world to open public order. Mobile payment can and must be universal. In the best case, increase access to the banking system for facilitating payments. Improving the trade make faster and more efficient transactions reduce costs. Countries like Kenya have integrated systems that enable consumers to pay almost anything for the mobile phone, jumping outside of the US to offer this technological promise to almost everyone.
What is the best way? Do not look for Apple’s rivals. Look at the United States postal service as a provider of financial services with payment options mobile.
It may be exaggerated to choose the postal service, but it’s not as strange as you might think. The postal service has something that most businesses do not have: access to almost all Americans. This also applies to those who do not have bank accounts, as noted by Senator Elizabeth Warren.
Most of the companies that have approached mobile payments have been successful. Several companies have expanded in recent years, mobile payment capabilities. But no one offers the convenience of using text-based payment for all purchases. Amazon’s beta version of a digital wallet allows users to only be able to store gift or membership cards. EBay’s PayPal system is ideal for online purchases, and user-to-user transfers, but it does not work as well as to go to a real store. Smaller sites like Venmo and Cover and GoPago and others have a distributor for a need to accept mobile payments.
However, Apple payment would be a serious progress. Thanks to the technology “Near Field Communication” would be Apple’s new phone and check devices allow users to scan their phone on a sensor to pay for things. The phone would act essentially like any credit or debit card that you connect to your paid Apple account.
Apple is able to achieve a level of cooperation that most companies could not. He has collaborated with credit card networks such as Visa and MasterCard in the company. And unlike its competitors, Apple has signed an agreement with the top five credit card issuers – American Express, JP Morgan Chase, Citigroup, Capital One and Bank of America.
They have agreed to offer reduced rates to Apple’s payment transactions on their credit cards. That gives retailers a powerful reason to provide their Apple-enabled payment device stores, as they are not so much would be paid on every transaction. Combine that with millions of Apple users (over 800 million have iTunes accounts), and many retailers may be tempted to expand their adoption of mobile payments.
Retailers such as Uber, Starbucks, Target, Nordstrom, McDonald reported and signed to CVS and Walgreens. Apple’s payment is launched in October with 220,000 commercial establishments; It will even be accepted at Disney World.
But the only consumers who can benefit from this are those who have an iPhone 6 or Apple watch. Apple’s clear intention to own the digital portfolio is to create more value for its products; They do not make any application for use on other phones. And that is a shame, because our banking system needs a digital portfolio of work.
This leads to a number of potential problems. First, security risks where stealing a phone would now be temporary, similar to stealing a purse. Apple is going to try to reduce this threat with a one-step kansellatie tool, and verify the apple payment through a fingerprint scanner on the iPhone. But the fingerprint scanner has already raised questions about privacy. And given the recent Apple iCloud storage hack that led to the release of bare celebrities, consumers would not be able to centralize their business with the same financial and medical information.
If Apple can hinder security issues, the company would have a monopoly on mobile payments, allowing the millions of people who can not afford to have an iPhone. This can have a real world cost. Traders often attract customers by lowering their prices if they pay cash. Reduced transaction costs for the same reasons help Apple pay with Apple’s mobile payment network. If a retailer costs much less to convert an Apple payment, they would like to encourage more.