Apple Pay mobile payments is changing the way consumers and businesses conduct business. Nobody likes waiting for anything. This cultural allergy towards lines is only getting worse. With pay as you go features, the concept of lines to pay will slowly become obsolete in all environments.
According to TechCrunch, “Apple Pay accounted for 1 percent of digital transactions in November according to research firm ITG, which reveals it to be a strong competitor to PayPal, the only other player out there achieving much success.”
“Achieving critical mass for a system like Apple Pay now depends on winning retailers and various consumer-facing verticals over to Appel’s side – nothing short of omnipresent acceptance will let it do more than linger in the low single digits of digital transactions.”
The previous statement is true, but one way or another, digital payment will be widely used. It may not be Apple payments, but digital payment will flourish sooner rather than later.
Paypal is Apple’s only major competitor in the mobile pay space. Unsurprisingly Samsung is also working on creating a digital payment platform. Check out the Samsung update from The Wall Street Journal.
“According to a report by Re/code, the South Korean technology giant has held talks with a startup called LoopPay for a potential partnership deal that could allow the launch of an Apple Pay-like service.”
“(LoopPay’s) technology would allow people with certain Samsung phones to pay in the vast majority of brick-and-mortar stores by waving their phones instead of swiping with a credit card or cash,” Re/code reported, citing unnamed sources.”