REPORT: What Apple Pay At Five Says About The Future Of Mobile POS Payments
Apple Pay went live five years ago yesterday, on Oct. 20, 2014. When Tim Cook took the stage a month beforehand to announce this mobile payments innovation, he shared Apple’s vision for modernizing how consumers and merchants would interact at the physical point of sale. Instead of wasting time fumbling around for plastic cards and swiping them at terminals, consumers would use the mobile devices always in their hands to check out quickly, easily and securely with Apple Pay’s mobile wallet. He used this video to make that point. In true Apple fashion, the user interface was clean, crisp and slick. Apple Pay’s security and privacy protocols were state-of-the-art, leveraging the NFC standard and their Secure Element to enable secure,...