Apple Inc. (NASDAQ:AAPL) announced an extremely new and innovative way of doing online transactions and payments with iPhones. The service is called Apple Pay and it is being launched on Monday, with over 220,000 retailers participating in it.
Apple Pay will turn your phone into a digital wallet, which eliminates all hassles of carrying cash or even cards. You can just add your cards into this new service and get set go. All online transactions will be authenticated via your finger recognition and you will have an absolutely safe and secure payment mode. The breakthrough technology comes to you on Monday.
The company has an added advantage of having no competition at all. It is the first one to launch such a service that other smartphones and gadgets will lack. The new mobile payment system has partnered with all the major banks and they are coming on board to facilitate it.
Apple’s prompt announcement and roll out gives it the edge over NFC-enabled payments, which was a part of Google Wallet. Google is unable to get it right and therefore all the brownie points for the digital wallet technology and service goes to Apple Pay. Your finger touch is your identification and all you need is a tap to purchase or pay. You get a subtle vibration or beep as confirmation of payments and other transactions.
The new journey of Apple’s innovation has begun with bigger and better iPhones and services like this, that solves a much harder problem. For starters the banking partners are Visa, MasterCard and American Express. More than 500 banks are going to be added as they agreed to be partners in making Apple Pay extremely useful. So next time you are going shopping just makes sure you take your iPhone along. The device will save your time as you will never use cash or cards ever again.
[ Official Website ]