For a lot of people, the most exciting thing about Apple's latest phone, was not the new larger screens, but the announcement of Apple Pay. The iPhone 6 adds the capabilities to make payments using a combination of NFC and fingerprint touch technology. There has been a lot of positive buzz from the industry, with many feeling it will be the kick start that mobile payments need to become a standard practice across the board.
Even Bill Gates weighed in. While the former head of Microsoft, turned philanthropist is more concerned with mobile payments that can cater to poorer economies, he commended Apple's solution as "fantastic". According to Bill: "Apple will help make sure it [Mobile payments] gets to critical mass for all the devices." I have to agree, the best thing about Apple Pay, is it will bring mobile payments to a larger audience (despite being only available in the US at first). It will test the waters and further convince the public and businesses community of the security, ease and value in a cashless economy.
Hoever, not everyone is convinced about Apple Pay's solution and mobile payments themselves. Speaking at a panel this week at the Mobile Shopping Summit 2014, Danny Sullivan, Pizza Hut's vice president of global digital experience, expressed some doubts. Sullivan's concerns mainly surrounded Apple Pay's limitation to support only for the in-store experience. Pizza Hut obviously cater for a lot of their customers online and over the phone in a takeaway service and Apple Pay is not an omni-channel solution that comprehensively supports for all Pizza Hut's mobile payment needs.
Sullivan went on to say, he is not yet persuaded that mobile payments in-store offer sufficient improvement over credit cards. Furthermore, he felt that not until the "credit cards companies stop sending you plastic cards" will mobile payments really take off. Though even a man with reservations about mobile payments recognised that the mass acceptance of mobile payments was 'inevitable'.
Apple Pay is exciting and it will do a great job in exposing more people to mobile payments, but I too feel they're missing a beat. What we offer here at Ensygnia in the mobile payments space, is a truly omni-channel experience. Wherever you are, as long as you have your mobile phone, you can make mobile payments over our secure transaction platform. In a store, on your laptop at home, walking past a poster, or even directly on your phone itself, it doesn't matter - one scan and you're done. I'd like a slice of that please, with some ice cream.
By Matthew Taylor 9th October 2014
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