Since its release in 2011, Google Wallet has failed to catch on as much as the tech corporation would have hoped. This experience provides Apple with a lesson to learn from when refining its own digital currency application: Apple Pay. Advances in near-field communications and data transmission technologies are huge contributing factors to why Apple Pay could reshape the way that traditional commercial interactions are completed. The biggest piece of supporting evidence for claims of Apple Pay's success are apparent when examining the growing list of partners that the tech giant has had come on board this project.
When entering into a new sector like the finance industry, assimilating into partnerships with existing, successful companies is a good sign for potential growth. Apple Pay has now added Visa, MasterCard, American Express, Bank of America, Capital One, JPMorgan Chase, Citi and Wells Fargo to the roster of finance companies who will contribute to the adoption of the application.
Unlike Google, the improved privacy protections that Apple is offering the customers who use this new service brings peace of mind to users. Security is essential when it comes to highly sensitive data like that transmitted through financial transactions. By randomly generating codes for each transaction, Apple Pay improves security by randomizing account information so that it will not be able to be exploited. Randomized transaction numbers are essential to keeping account information secure. Achieving this standard of privacy is imperative for assuring users that their data will not be exposed.
Users who are weary about transitioning to the new wave of digital payment options should seek Apple support professionals who can synchronize their financial data onto Apple devices to meet security standards. MC Services provides IT consulting that can improve the ability for Apple users to benefit from new technologies like Apple Pay.