Can Apple Pay make payments more secure?
Source: Leon Siciliano
A key feature of the iPhone 6 is something called Apple Pay. The service, which the company expects to introduce in the U.S. in October, will let customers shop in stores and online by tapping their finger on the phone’s fingerprint scanner rather than paying cash or swiping a card. Apple hasn’t given details about plans for Apple Pay outside its home market.
“Apple Pay has the critical mass to accelerate the transition toward digital payments,” Barclays Bank Plc analysts said in a note released Sept. 19.
Google has its own cash replacement, software called Google Wallet, and Vodafone Group Plc, Telefonica SA, Royal KPN NV and Deutsche Telekom AG are trying to gain traction for similar services. While the competition will hasten the introduction of new ideas into the market, it could slow adoption by consumers because it could sow confusion in the market.
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