Apple Pay Starts Today, Will Wyoming Buy In?
Google Wallet is a similar service that has been around for two years, but they have done such a lame job of explaining what it is, how it’s used, or why it’s better that it is just languishing in the shadows.
If you bought the new iPhone 6 or 6+, As of today, Apple Pay means you can leave your wallet and credit cards behind. There need be no more retailers taking your card and possibly your information. Major payment networks Visa, MasterCard, American Express, major banks and more than 220,000 retailers are on board for Apple Pay. iPhone 6 and 6+ owners will need to update the Apple iOs software today through system settings.
Many consider Apple Pay more secure than a credit card. You put your credit card info into your phone, but it doesn’t stay stored in the phone. At the point of purchase, you bring your phone near a reader and touch the fingerprint ID and choose the credit card you want to use.
500 million earlier release iPhone owners will be left out, as will Android and Windows phone users, but this is a paradigm shift that will push society further into digital finance.
Google Wallet is a similar service that has been around for two years, but they have done such a lame job of explaining what it is, how it’s used, or why it’s better that it is just languishing in the shadows. Apple meanwhile, has nothing but net on this and kicks Google’s ass with Apple Pay.
Are PayPal, Square and Venmo quaking in their boots with the introduction of Apple Pay today? Maybe short term, but in the long run, they may benefit as people adopt eCommerce. Watch for Apple Pay to grow rapidly in 2015, even here in Wyoming. I gotta say, it’s strange to see someone on a horse using a smartphone to make a payment. But even if we are slow adopters, progress keeps coming. Are you ready?