Apple Pay launched on Monday has drawn a lot of attention to the technology that was already embedded in millions of Android smartphones, but was not able to pull off well and hence was a failure, notes a report from PC World. The NFC technology could not be utilized well because of multiple issues such as Clunky implementations, lack of widespread acceptance and poor user knowledge. The experts in the payment industry believe that Apple Pay will not be restricted to just the Apple Inc. (NASDAQ:AAPL)’s iPhone 6 users, but its benefits may impact other users also.
Apple Pay simple to use
For making a payment using the NFC system, a user simply needs to place an NFC-enabled payment card or his phone near the reader. The convenience factor gets reduced a bit because of the numeric code required for security.
However, Apple Pay makes use of the fingerprint sensor in the iPhone and this makes it different from the existing NFC payment system as no codes or passwords are needed. “I think what Apple has done is create a very elegant experience around [NFC payments],” said Sam Shrauger, senior vice president of digital solutions at Visa. “That, combined with the number of Apple users, will be pretty catalytic for NFC payment.”
The fact that the payment can be made with just a touch makes it an extremely pleasing user experience, according to MasterCard Anderson. Apple always keeps user experience at priority and this has been the key to success for it. Apple Inc. (NASDAQ:AAPL)’s success comes largely from doing things differently and seldom because of being the first one to do something.
Apple Pay addresses privacy concern
The privacy and security offered by Apple Pay is superior compared to its competitors, and hence they will be under pressure to introduce NFC payment system that is equally competent in all aspects. Hence, rivals have to make the relevant changes in its payment system as the current system implemented by Google substitutes a card number for a virtual MasterCard that is used for the transaction. The token based system of Apple is more secure than the one used by Google, and hence, the internet giant might be interested in adopting the newer technology believes Anderson.
The privacy gap between Apple and Google is also significant. Google keeps an eye on the items sold and transactions made through Google Wallet unlike Apple Inc. (NASDAQ:AAPL) that does not see the transactions made with Apple Pay. Apple Pay’s success might induce Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) to offer more privacy, convenience and overall better experience to the Android users.