By MARINA SHIFRIN, My Bank Tracker
If you haven’t bent your new iPhone 6 in half yet, then you’ll be one of the lucky ones to test out the new Apple pay mobile payments app this coming October. For those of you who are unfamiliar with this nifty app, it allows users to pay with their phone using a Near Field Communication (NFC) chip. Say bye-bye to credit cards!
Apple pay (Photo from Apple Inc.)
Yes, Apple Pay will be limited to iPhone 6 and iPhone 6 Plus owners, BUT if you don’t mind shelling out $350 and making questionable fashion decisions, then you too can use the Apple Pay with the Apple Watch. Looks like everything is going to be coming up Apple in October.
Will Apple Pay make it?
If this feature looks familiar to you, it’s because it’s not new. Samsung and Nokia, both released similar NFC-enabled phones years and years ago. Large parts of Asia and Europe have used this payment method for years. The main reason Apple Pay may survive (in the U.S.) when others have fallen flat is due to the partnerships they have already lined up. The partnerships include Duane Reade, Subway, Walgreens, Whole Foods Market, Macy’s, Bloomingdale’s and more.
Apple Pay will also work with American Express, MasterCard and Visa credit and debit cards issued by some of the largest banks in the nation including Chase, Bank of America, Capital One, Citibank and Wells Fargo.
As with any technological trend, the way we interact with the world will be changed forever. Yes, you may be set in your habits, but future generations will most likely use this new payment system and not look back.
Read the full article HERE.
