Apple Inc (NASDAQ:AAPL) to release Apple Pay this Monday

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Apple Inc (NASDAQ:AAPL) will reveal its Apple Inc (NASDAQ:AAPL) Pay program on Monday which will be a welcome move for those who don’t     fancy carrying cash and cards while shopping. Apple Inc (NASDAQ:AAPL) Pay will work on iPhone 6 as well as the latest iPads. The old iPhone users might feel left out, since the service won’t be available on previous releases. This is an effort on Apple Inc (NASDAQ:AAPL)’s part, to ensure enhanced sales for the latest models.

Apple Inc (NASDAQ:AAPL) has over 220,000 retail locations that will accept payment through the latest iPhones. Big retails such as McDonalds (NYSE: MCD) and Macy (NYSE:M)’s are on-board, along with some 5000 banks. Major payment networks such as MasterCard (NYSE: MA), Visa (NYSE: V) and American Express (NYSE: AXP) are also associated with Apple Inc (NASDAQ:AAPL) Pay. This app has taken the payment market by a hurricane even before its release.

Apple Inc (NASDAQ:AAPL) Pay focuses on customer security. In today’s day and age, mobile phones are constant companions, and with this latest app; there won’t be any need to carry cash or card around.  Instead, payments at the end of shopping experience will only be a click away. The encrypted codes are quite complex and implausible to hacking.

IPhone 6 users can update to IOS 8.1 and download Apple Inc (NASDAQ:AAPL) Pay. It will instantly get synchronized with their phone. The payment system is convenient. A user will need to hold the TouchID finger print device and point it to the Apple Inc (NASDAQ:AAPL) Pay reader and the transaction will complete in seconds. In case of a lost IPhone, a user will need to act quickly to disable Apple Inc (NASDAQ:AAPL) Pay account through Find my iPhone app.

Apple Inc (NASDAQ:AAPL) has ensured maximum security for the Apple Inc (NASDAQ:AAPL) Pay application, as retailers will only take it on board if they feel that the system ensures user data and payment security. Analysts have also observed that Apple Inc (NASDAQ:AAPL) would never release a feature that is not secure, especially an app that involves sensitive data.

Apple Inc (NASDAQ:AAPL) is also employing a strategy here. The reason this app is exclusive to the latest iPhones and iPads is because Apple Inc (NASDAQ:AAPL) want their consumers to step and upgrade to the new iPhone. Apple Inc (NASDAQ:AAPL) wishes to make the most out of iPhone 6, before it releases any other versions of the smartphone. IPhone 6 gathered 10 million sales in a short span of time, that too with a short supply. New iPads have been released recently, and Apple Inc (NASDAQ:AAPL) Watch will make its entrance in early 2015. All these devices will bring an onslaught of new customers to Apple Inc (NASDAQ:AAPL); the customers who have been using the old phones will join the iPhone 6 craze soon. More releases will mean, more Apple Inc (NASDAQ:AAPL) Pay users, so a synchronized growth of Apple Inc (NASDAQ:AAPL)’s new products and Apple Inc (NASDAQ:AAPL) Pay can be anticipated for the coming years.

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