Visa Inc (NYSE:V) is working to bring Apple Pay to the masses. The financial giant is set to bring the new payment system to the United States in October and the United Kingdom in 2015. Visa Europe’s Head of Mobile Proposition, Pedro Sousa, claims the company does not have any concrete dates yet but they know it will arrive sometime next year.
Apple Pay wil change the way people shop with mobile devices
Apple Pay was designed to be a mobile wallet that simplifies making payments and adds extra security. This feature utilizes Touch ID. Users can pay by holding their iPhone next to a contactless reader with a finger on Touch ID. Once the payment is complete, the user will notice a beep and vibration. This handy new feature also simplifies shopping on the iPhone. Checking out has never been easier as users can simply select Apple Pay, then place finger on Touch ID to complete payment.
Concern over iCloud scandal should not affect Apple Pay
Apple Pay’s launch could not have come at a worse time. Given the iCloud celebrity hack scandal, things are not looking so good for the cloud. Sousa hopes to alleviate fears by reminding users they have nothing to worry about. There will be no credit card or debit card information in the system, instead it will be a token reference to accounts. iCloud and Visa Pay are two completely different things.
Visa has been the leader in contactless payment systems in Europe, so it is vital the company bring Apple Pay to the United Kingdom. Earlier this week the finance giant announced Apple Pay for the U.S. Just recently, it was confirmed Apple Pay would eventually come to Europe.
Apple Inc. (NASDAQ:AAPL)’s strong interest in mobile payments show the company is ready for its pivotal moment for digital payments. This shows a momentum between contactless and mobile services.