By David Becker
Retail stores within the past 15 years have always had the three options for payment: cash, credit/debit card, and/or check. However, NFC payment systems such as Apple Pay are quickly changing the game, allowing for customers to pay for things directly from their phones. Paying for things via our smartphones is nothing new, but Apple Pay brings a great twist to in-store and online shopping.
One thing that separates Apple Pay from the competition is its integration. Based on which bank you have, users can easily put their credit and debit cards on their iPhone or Apple Watch and pay for things wirelessly. It should also be noted that Apple Pay is heavily secured and encrypted to the point where the only person who sees the information is you. Apple nor the merchant see what you bought or how much you spent, just the basics to verify the payment.
The reason why all businesses need to accept this form of payment is because it protects customers from hackers who want bank account and credit card information. Some businesses do have the new security chips that are embedded into credit and debit cards, but a lot of stores do not have it yet and it still requires pulling out your card for purchase. Seems a bit old fashioned in today’s tech centric society?
An issue with credit and debit cards is that they require a pin or code number to put in when purchasing, which can be stolen from anyone. Numbers are universal, not unique. Apple Pay requires the user’s fingerprint, which cannot be copied. Best of all, Apple does not save your fingerprints. The iPhone will save the fingerprint but only for memorization. When paying with Apple Pay, you have to use your fingerprint for every single purchase or else it will not work. With the Apple Watch, a fingerprint is not necessary.
I will honestly spend more money in stores that have Apple Pay already installed. Just this past spring, a friend of mine was graduating from high school and I bought her gift through the Target app and payed with Apple Pay. It was secure and I didn’t have to worry about my information getting hacked and breached. Starbucks even allows users to order their drinks via their app, pay with Apple Pay, and then let the customers pick up their drinks right in the store. It has become the way of the future.
Recently, I emailed Barnes and Noble, the world’s largest book-selling retail store, on their plans for integrating Apple Pay in their stores. Their response was, “We assure you that we will keep your feedback regarding Apply Pay in mind as we review our stores and the services they provide."
As much as I love buying products in-store, Apple Pay needs to be an automatic upgrade. We as the customers should not have to wait for the business to “decide” whether or not they want to add it. I am completely aware that it costs money to add it, but in retail today, you have to do what is best for the customers and Apple Pay has become a necessity for quick and safe transactions.