Tag: Apple Pay

New details about Apple’s mobile payments service emerge

| October 14, 2014

Leaked training material helps shed light on Apple Pay features

Apple has begun training its retail employees on the various aspects of its new mobile payment service. The company recently unveiled Apple Pay, which represents its first step into the mobile payments space. The service has yet to officially launch, but it has already received strong praise from businesses and consumers alike. Training material acquired by 9to5Mac sheds some light on some of the features of Apple Pay and shows off features of the service that have not yet been revealed officially.

Apple Pay is designed to work with Passbook

According to the training material, Apple Pay can be set up through the Passbook application. Passbook is Apple’s version of a digital wallet, capable of storing a wide range of virtual information, including special deals offered by retailers and financial details. The service can also be set up through the initial iOS 8 startup process for new iOS devices. As many as eight credit and debit cards can be associated with Apple Pay at any given time and these cards can be linked to Apple Pay through a user’s iTunes account.

NFC technology will control mobile transactions made through Apple Pay

New Apple Mobile Payments DetailsApple Pay will be using NFC technology in order to facilitate mobile payments. This technology has comprised the backbone of the mobile commerce space for some time, but Apple had considered it dangerous in the past. Over the past few years, Apple has been taking a slow approach to the mobile payment space, citing security concerns as the reason for its cautious approach. Apple may have found a way to make NFC technology more secure using biometric technology.

Apple Pay set to launch October 18

According to a leaked memo from one of Apple’s launch partners for Apple Pay, the new mobile payment service is set to see an official launch on October 18. The service will be available for the new iPhone 6 and iPhone 6 Plus devices, as well as Apple’s forthcoming wearable devices that is expected to be launched at some point in early 2015.

Interest in mobile payments is growing rapidly in the US

| October 10, 2014

Study highlights the growing interest in mobile commerce coming from consumers

Interest in mobile payments is expected to grow in the coming years, powered by the introduction of new payment platforms and services, like Apple Pay. Gartner has released a new study that predicts how this growing interest will affect mobile commerce revenue in the U.S. New mobile payment services are becoming available on a seemingly daily basis, but high profile companies, such as Apple and Google, often attract more attention and generate more excitement in the mobile space, encouraging consumers to participate in digital commerce.

Mobile revenue may account for 50% of all digital commerce revenue in the US by 2017

Gartner’s study predicts that mobile commerce revenue in the U.S. will account for 50% of all digital commerce revenue by 2017. This growth is expected to be powered by the growing attention mobile commerce is receiving and the increased capabilities of smartphones and tablets, as well as the applications they use. Mobile apps are likely to contribute heavily to the growth of mobile revenue, as these apps serve as the primary way people engage in the digital space from their mobile devices. As the application experience improves, people are more likely to use them to purchase products and make payments online.

Study shows that people are becoming more comfortable with mobile shopping

Mobile payments studyThe study also predicts that more than $2 billion in online shopping will be done by the end of 2016. Consumers are becoming more comfortable with the idea of mobile commerce and are beginning to shop online more frequently from their mobile devices. Consumers are also becoming more comfortable with digital assistants, applications that are designed to help consumers fill out their information on retail sites when purchasing products.

Geolocation is becoming a powerful tool for retailers

The study predicts that retailers will begin offering location-based deals to consumers more regularly in the future. These initiatives make use of geolocation technology to provide consumers with special offers from retailers that are close to them. This represents an effective way for retailers to engage with local consumers that are interested in mobile commerce.