Apple Pay is What to Watch
While Apple loyalists continue to gush over the release of the enlarged iPhone 6, the company is already making moves to progress itself further in future technology trends. According to an article recently completed by Ad Age, the iPhone 6 is certainly intriguing, but it is not the item to watch out for. Alternatively, the article has its eyes on Apple Pay, Apple’s developing means of mobile payment. This is the future for smartphones, which allows consumers to pay simply through their device.
However, Apple Pay has a unique feature, which allows the program to be developed around the safety and security of the Touch ID.
Essentially, Apple Pay’s use of Touch ID allows consumers to buy anything they wish for with one simple click. The taxing process of entering long, complex card numbers is no longer required. Consumers merely place their finger to the fingerprint reader already available on the phone and that serves as confirmation of payment. This also adds a sense of security, as less times entering the card number equates to less chances of people spying it from over the shoulder.
App developers are already discovering the potential appeal of Apple Pay’s Touch ID; Target, for instance, has already acknowledged that a new version of the app is in production, which allows for the use of checkout using Touch ID. But the question becomes the appeal of the program for Apple. In a company of that magnitude, the profits made from selling phones or starting a new app will not go very far; particularly in the case of Apple Pay, as profits are split multiple times to platforms that support the program.
The article then declares that the potential for profit in Apple Pay boils down to the expected use of digital advertising and mobile ads. These facts would all the loop of the Apple Pay to be closed—marketers place the ads and consumers are converted. This is a logical assumption, as the digital advertising market is simply taking off. Last year, the global mobile advertising revenue doubled to total eighteen billion dollars. This year, that figure is expected to grow by seventy five percent. Apple has a reputation of always being on the cusp of what the next “big thing” will be; it appears their Apple Pay system will be no exception.Share: