Tap and Pay, the new way to spend

The Future of Payment |The Launch of Apple Pay

Apple Pay has launched in the UK, letting owners pay for items costing £20 or less with a simple kiss between iPhone6, 6+, Apple watch and payment terminals. The new platform has been developed to make purchasing more convenient, further entwining human-computer interaction.

Using Apples passbook app, Apple Pay uses tokenisation which makes sure card details stored on device are never passed onto the retailer. This token is given to the purchaser who debits the payment only once. The users fingerprint verifies the payment through the Touch ID system on the iPhone.

Here in the UK, we have embraced contactless payment with up to 60 million contactless cards in circulation, and although there are digital forms of contactless platforms such as EE’s Cash on Tap, they haven’t gained momentum or worldwide attention like Apple Pay has.

Not all UK Banks are signed up for the platform just yet, but everyone should be on board for Christmas as promised by Apple. So far if you have an account with NatWest, RBS, Santander, MBNA and Nationwide, and you have the latest iPhone you can dive into contactless payment. One company who aren’t showing an incredible amount of interest is Barclays, probably because Apple takes a slice from each transaction, so we will have to wait and see if they follow commercial sheep or become the Sheppard of protection for their bankers.

Most retailers that already support contactless card payment will support Apple Pay. On supporting websites, users will be able to pay in a similar way to PayPal, verifying the payment with their fingertip on their device.

TFL have just recently opened the floor on issues that exist with contactless digital payment warning public transport passengers paying with the app that they have to make sure their batteries don’t run flat during journeys. EE’s cash on tap and Apple Pay only work if your device has power, so if your battery dies, you may have a hefty fine at the end of your journey because how would you prove you’ve paid your fare? Also, sweaty fingers don’t work on the touch ID and the system has been slightly slower than the Oyster card.

Sounds like we may be streamlining our lives a little too much.

Apple Watch is growing in popularity slowly, but we haven’t been wowed or balled over with it just quite yet. Will this be the case with Apple Pay? The internet of things is conglomerating everything into one place, making all that we need to live (commercially that is) function through one piece of black mirror. Are we trying to squeeze too many features into one piece of kit?

We kind have like the idea here at scotchegg web development, it means we can minimise the items we carry when we go out for a creative bit of thinking with craft beer at The Crown down the road, but we’re geek chic. Will the common folk feel safe tokenising their cash?

Let’s have another look at it in January, once everyone has blitzed all of their savings tapping up the Christmas gifts.