Next week, Apple will release Apple Pay for general use, and according to analysts, it will put Apple right in the middle of consumer transactions. Frank Gillett says the payment system is “hugely important” and will give people an all-new reason to buy Apple products.
Apple Pay will work on the tech giant’s newest iPhones which all have an NFC chip that allows a user to tap their phone on a payment terminal instead of swiping a credit card. iPad Air 2 devices will also be able to make purchases, but only online.
As long as there are no problems with security or the system itself, Apple will benefit from being the first when it comes to bringing mobile payments to the masses. Sure, mobile payments have been around for a while, but no one company has been successful in making it largely accessible like Apple can.
