Credit Card Processing Blog
3 Things To Know About Apple Pay

Nov 9, 2015 11:08 AM / by Reliance Star

Technological advances made it possible for consumers to use mobile payment solutions such as Google Wallet (2011). Recently in 2014, Apple caught up to Google by developing Apple Pay. Since it’s launch, it has rapidly made it’s way to one of the top mobile wallets in the industry.
 
There are several possible reasons why that could be:
 
1.  Popularity
 
From iPods to iPads to iPhones, Apple has gained a lot of devotion as it continuously advances. For example, when a new product comes out, fans all over the world line up for hours just to be part of the first users. In recent years, Apple has had little to no errors, giving them a consistent level of fan support. It’s no surprise that its’ mobile wallet launch was a great success.
 
 2.  Ahead of the game, before the game.
 
Introducing Apple Pay was smooth considering iTunes already had over 800 million credit card accounts. Apple secured themselves with hundreds of thousands of vendors before it’s Apple Pay launch. No surprise, the company attracted over a million subscribers within the first couple days. 
 
3.  Security

As many of it’s users know, Apple is well equipped with security technology, such as:

  • Find my iPhone – allowing users to geo-track their lost or stolen devices
  • Lost Mode – allowing users to lock their devices should they go missing
  • Manual Authorization – allowing users to make transactions only when they manually request a connection with the terminal
  • Touch ID – allowing users to scan their fingerprints to unlock the device and start transactions

Using these features, Apple promoted themselves in their campaigns to catch the attention of merchants and consumers. When it comes to payment data, everyone wants to make sure they are working with the best. Thus, these features are a compliment to Apple Pay’s security such as near field communication (NFC) and tokenization.