The Banks are getting on Board with Apple Pay

Apple, not surprisingly, is getting a little desperate about their declining iPhone sales. One way they see that could reverse the trend and make the iPhone more valuable is by wholly embracing mobility which they seem to be doing.

Apple pay is one such method to embrace mobility applications and is, more or less, a revolutionary change to the way we deal with money. Although it hasn’t wildly taken off yet, such things need a bit of time. In a Apple pay transaction, you pay for your items with the phone.

Apple has Got all the Canadian Big Banks to Join

To get the Canadian big banks to join, as they started only with Amex, they made the deal more enticing to the banks in terms of the money they would get on a transaction. However, having the Canadian big 5 onboard not only legitimizes the service dramatically but it puts all your cards in your phone. At the time of payment, you choose what you’d like to make the payment with. No more fumbling with an overloaded real wallet full of cards.

The likelihood of this kind of service succeeding and taking off is major. As the barriers to our habits are broken down and we grow familiar with the new service, its convenience will shine through. As with many technologies, there will be a time when the tide will suddenly swing and many people will want to transact in this way, the convenience of it all winning us over.

iPhone Sales could Increase due to Increased Value

iPhone sales could see a rise in sales due to increased value from this one, very valuable app. Why they might do better than the other wallets is by having such a large bevy of banks on board. It took a lot for Apple to pull this together. Other wallets might have a couple of banks in them, but at the moment nothing like what Apple has.

Phone sales might come back down to reality and be based on what they can do for us rather than having the fanciest look or the jazziest of processors. It is applications, in the end and good applications that have always pushed a platform. This might just happen where it comes to the iPhone.

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