Apple Stock News:
For the latest Apple Stock News, AAPL closed at $159.78 per share on August 22nd, 2017. It generated a return of 0.20% from its previous close on August 23rd, 2017, when it closed at $159.98 per share.
Over the next five years, the share of payments made by Apple Pay will increase significantly. The world’s biggest card processing companies are Visa and MasterCard. They will require using contactless technology in payment terminals almost everywhere by 2020, according to Juniper Research report.
The lack of compatible terminals caused the slow spread of Apple Pay in USA technology. Also the reluctance of some retailers to establish terminals on time.
The growth of contactless payments can also be stimulated by shoppers. Bank cards with a chip have spread widely and replace magnetic strips. Customers want to reduce payment processing time on payment terminals.
Some benefits of Apple Pay for customers:
- The simple system that works with customers everyday devices.
- It is safe as only because of Touch ID or a passcode on iPhone and iPad. The card information isn’t shared and securely replaced with substitute digital account identifier.
- Customer can easily manage previous transactions and ten last available on the device.
In retail, according to the forecast by 2022, the number of contactless payments will amount to 34%, compared to 2% this year. On a global scale, growth can rise from 15% to 53%. Such payments are very popular in Japan, Great Britain and Poland.
Some benefits for small business:
- Increased security and privacy for customers.
- Additional opportunity to compete, when mobile payments are mainstream.
- Apple Pay provides a simpler payments environment for customers.
Apple Pay will appear in 4 more countries this fall and will be able to strengthen its positions when the new iOs 11 system implements a new technology of individual payments. Thus, Apple will potentially get into the revenue of such companies as Paypal and Square.
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