Apple plans to charge banks whenever consumers will use the iPhone 6 and Watches Watch, making purchases. According to The Financial Times, the standard commission for a new electronic payment service Pay will be only 0.15%. Using this approach, the Californian giant hopes to gain a significant share of the growing market of mobile payments.
Apple has attracted an impressive list of banks and credit card issuers to support Pay. Now all she needs - is to attract more buyers and sellers. In Cupertino sure that service will make customers forget about their wallets and make purchases with your iPhone and Watch.
The system is based on the technology of the near-contact communication (NFC), which, however, have difficulty gaining recognition vendors. The retailer must establish at the checkout reader service payments in one touch. According to Gartner analyst Mark Hung, such readers in the United States are less than 10% of retailers.
Apple said that starting from October iPhone owners will be able to use Apple Pay 220 000 outlets in the United States, including McDonald's, Bloomingdale's and Macy's. For comparison, according to the Association of electronic transactions (Electronic Transactions Association), credit and debit cards are accepted over 9 million retail outlets in the United States.
Best Buy, for example, set the scanner NFC in many of its stores, but turn them off in 2011, as the cost of supporting the platform was too high, a company spokesman said. The retailer has no plans to change course after the announcement of Apple.
Apple has successful experience in the implementation of the mass dissemination of existing technologies and services - such as happened with the touch screen technology with the creation of iPhone. The company also popularized legal music downloading, creating iTunes and allowing users to buy individual songs instead of entire albums.
Apple is also set to benefit from poor timing. Network of credit cards are now seeking from retailers installation of payment terminals accepting cards with microchip. If they fail to do so, retailers will be responsible instead of banks for any fraud with chip cards since October 2015.
Apple Pay available on the iPhone 6 and iPhone 6 Plus, which is equipped with an antenna NFC, isolated chip called "Secure Element", as well as the scanner Touch ID. In addition to this, the system works and presented the clock Watch, which means that the service will be available to Apple Pay for the 20 million owners of the iPhone 5, iPhone 5c and iPhone 5s worldwide.