On Monday, Apple Inc. (NASDAQ:AAPL) update its iOS system by adding a new feature, Tis new and unique feature allows you to take a snap of your credit card which is stored on a special chip inside the iPhone. You can use this to pay at the store for different stuff. If Apple Inc. (NASDAQ:AAPL) new feature is the future, then Apple Pay will have to wait for its time as it is not even close to replacing the original wallet that many of us carry with us all the time.
The results for the tests carried out on Apple pay show a flawless output. However the problem with this feature is not its use or mechanics involved in this, it likely that you won’t much of a chance to use. Only some retailers have Apple Pay, many stores still do not accept it as a form of payment. Only Major stores like Walgreens, Whole Foods have the special NFC payment Pad that is used to payments from Apple Pay, vast majority still does not have this feature. Even though Apple pay was marketed to replace the wallet but until it is as appealing as credit card terminals, carrying cash and credit cards is a must.
Apple Pay is more secure than the normal credit cards we use nowadays. Unlike Credit Cards where you just have to swipe the card through the credit card machine, Apple Pay requires a thumb print. So while a thief might be able to steal a credit card and use money in it, he won’t be successful with Apple Pay until and unless he or she has a finger print of the person whose card is being used, he is out of luck.
Meanwhile evidence has surfaced that some retailers are deliberately stopping the usage of Apple Pay despite having the required equipment in a bid to develop, launch and promote their own payment systems. The Wall Street had earlier reported that Best Buy doesn’t intend to use Apple Pay simply because it is about to release its own mobile payment system. Moreover Apple Pay does not seem to be simpler to use than the traditional credit cards we use as of now. The Ad of Apple Pay shown at the launch exaggerated the difficulty one has to face in order to swipe a credit card. It was showing a forceful problem and solution scenario where the simple way to do it was shown top just take out your iPhone and Tap in onto the pad. Infarct it may be not easy at it was showed in the video. Some Pads demand the customer to enter a Pin code and a small donation to charity before proceeding with the transaction.
Until Apple Pay becomes as popular as the rest of the credit card system, it will remain a minor convenience for the customers who use this service.