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Real change in the new iPhones: Apple Pay

Posted by Ben Dickson on Nov 8, 2016 12:00:00 PM
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One wonders why Apple itself is not talking about the most significant change made to their new iPhone. Not even Apple CEO Tim Cook and his colleagues have raised the issue. Smart consumers, however, will understand that when Apple refuse to talk about something, there most probably is something at stake, something of real importance. This is certainly the case with Apple Pay on the new iPhone.

As we have previously mentioned when debating the pros and cons of the new iPhone, the Apple Pay tool can now be used within web browsers. Now that is significant. Enough with the ‘no headphone jack’ business; it’s worth spending some time weighing up the importance of Apple Pay, what with it being the digital payment service of the most successful company on earth, now accessible on the web via Macs and iPhones.

The evolution

Ever since day one of Apple Pay back in the fall of 2014, the tech media painted the app mainly as a method for easing the payment process for stuff you might buy in drug stores, grocery shops, coffee shops, and so on. Instead of reaching for your credit card to push into a checkout card reader, you could now place your phone on the reader, tap your phone, and simply wait for the beep to follow. Of course, there were those who argued that this wasn’t that big a leap from swiping your credit card across a reader. However, you can now use Apple Pay to pay for your online shopping, and has quickly evolved from in-app purchases to webpage purchases, too.

Now we’re talking. When trying to pay for online purchases people find the process a lot harder than paying for stuff at any local store. Why? It comes down to the fact that all the information needs to be entered manually on a webpage. This becomes even more painstaking when using a retailer for the very first time via your particular web browser. Apple Pay strives to remove that burden. Experts are describing Apple Pay’s introduction to the web as a major breakthrough, and say that it will solve the ‘conversion problem’ often seen in e-commerce.

Of course, other services also allow you to make payments online with ease. Amazon has made the entire process quite easy. PayPal is also known to work very efficiently across different apps and websites. Apple Pay, however, could change the state of play as it is included with iPhones. Apple Pay also has the advantage of possible use in everyday stores. It’s not that complicated, either; you are given the option to install Apple Pay when setting up your new iPhone. After providing credit or debit card information, you’ll have a very easy payment method right at your fingertips.


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The web factor

 

Despite what you may hear in the tech media, adding web capability to Apple Pay is actually quite important. The truth is that more and more companies these days are indicating that a majority of their traffic is no longer coming from their webpage but from their app. Some say that by 2017 the majority of traffic will come from mobile devices. While I personally respect their opinion, the death of the webpage (as some have hailed it), is premature. This is especially evident in the online retail world. 

The lifeblood of any modern company is defined by their new customers, and it is much easier to get customers to arrive at a website via a browser than to attract their attention via downloading an app. There are also companies that have already accepted Apple Pay on both their apps and websites, which will significantly improve their reach. It is a fact that companies are increasingly looking to acquire new customers through mobile apps.

Acquiring new customers is a difficult process, regardless of whether you use an app or a browser. What must be understood is that users don’t have the luxury of using a full-sized keyboard when trying to provide payment information on their devices, which can frustrate. Studies throughout the industry prove this.

Making things easier

Apple Pay can make the entire process much easier. People using Instacart checkout 58% faster when using Apple Pay, and the pay service provided by Apple has doubled conversation rates on Indiegogo, according to Stripe. Android Pay, the Google rival to Apple Pay, will also simplify the process.

Moreover, Google has announced its intention to provide more payment services on the web. A large majority of Warby customers are currently using iPhones, and the reason for that may lie in the fact that the iPhone attracted the attention of affluent individuals who are more willing to pay for other, pricier products. Let’s not forget that iPhone provided the platform for over 78% of the entire mobile retail market during the 2015 Thanksgiving period.

Final thoughts

While Apple may not have changed the universe overnight (and we’re not saying it can’t), companies must take the opportunity to adopt the services they provide. Unfortunately, only a small number of switched-on companies have risen to the occasion. Rest assured that Apple’s services on mobile apps and the web will most definitely have a positive impact, and this is much more significant than any headphone jack controversy. Lest we forget that late Steve Jobs presented a computer without a floppy drive.

Topics: App promotion

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