On Your Radar: Apple Pay™

The big news in payments these days is Apple Pay™. Rolling out with the new iPhones, Apple Pay is a mobile payment method offered by Apple that leverages Near Field Communication (NFC). Similar to Google Wallet, it gives iPhone® 6, iPhone® 6 Plus, and Apple Watch™ users a contactless way to pay via credit card for retail transactions and in-app purchases. Consumers simply wave their phone in front of the reader to initiate payment. No more carrying a big thick wallet—the cards are in the phone.

Weighing in on Mobile Payments

I am an information junkie. I sign up for a multitude of e-newsletters. I set up Google Alerts for topics that are important to me, watch Twitter trends and follow thought leaders on social media. Each morning, I sift through the information to find the day’s gold nugget. Here’s what I learned from my inbox this morning:

  • 57% of U.S retailers are preparing or already have a mobile commerce strategy.*
  • Mobile commerce will generate $6 billion in sales this year and is expected to double in 2012.
  • “Life is luck, make it.” –Mother Teresa

Mobile commerce is here to stay. As you develop your strategy, I offer food for thought: