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[FEATURE] Will Apple Pay really revolutionize mobile payments?

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Though Apple’s CEO, Tim Cook promised a lot of good stuff about how the new Apple Pay might change the way of making payments but despite of such an innovation and hard work, Apple will eventually have to struggle to touch the success line.


Future may hold an applause for this technology but at present Apple might not be able to make much out  of  “Apple Pay” which is set to be included in the new iOS 8.1 update.

Here are few key-points to justify. If you have a different perspective, feel free to drop a comment  below.


NFC chips are fabricated to iPhone 6 and 6 plus models only

In order to use Apple Pay, iPhone require a Near field Communication (NFC) chip which is available only in 6 and 6 plus models. NFC is used to send data from iPhone to checkout reader, available at some 220,000 retail locations, to complete the transaction. Previous iPhone models didn’t have NFC which makes them pretty useless when we talk in terms of Apple Pay until the new Apple watch shows up which has NFC included into it.


Not every store provides checkout via Apple Pay

There are around 220,000 retail stores overall that have the potential to use Apple Pay as they have NFC readers which is the key element of this whole new technology. At every other store other than these, you will need to pay with cash or credit card anyway. This means that the Apple Pay will be restricted to only high class stores. Stores with limited investment issues will not be much excited to deploy these new machines to provide service to a limited proportion of customers. So, we can count years rather than months for this tech to completely establish their roots.


Apple Pay may not actually be so much quicker than swiping a credit card

We  appreciate  Apple’s efforts for building up this new technology but seriously do we actually need this? Apple Pay might succeed in saving few of our seconds but paying with credit card or cash isn’t that hard. Just a swipe, that’s it. And after-all, Apple just provides you a new mode of payment, not anything other than what you could achieve till now.


Apple Pay will have to face the challenge of replacing retailers’ proprietary credit cards

Corporate credit cards or prepaid cards are not accepted yet in Apple Pay transactions. Neither are retailers’ proprietary credit cards which provide a great deal of offers and discounts to its regular customers. Nobody would like to miss out these offers just to show off this new gadget. A major amount of revenue and sales is gained by these proprietary cards which means even the stores with such method of income won’t accept Apple Pay in its full glory.


Senior Writer

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