Something huge happened this past Monday and it did not look good for Google. Apple sold 957,000 Apple Watches on the first day the devices were available for pre-order. Of course, that number is huge, especially for the pre-order of a brand new product. Take a look at how Apple’s competition stacks up, the manufacturers using Google’s smartwatch operating system sold a total of 720,000 units in all of 2014. That’s right, Apple did more in one day than what Google did within a year’s time. Let’s all openly welcome the new era of wearable technology with the Apple Watch!
What does that mean for the future? Well, what it means is that these smartwatches may not just be a trendy or cool thing to wear for the millennials and techies. These smartwatches could easily become just as popular as the iPhones and iPads everyone is already carrying around with them everywhere.
It seems as if the new initiative is to ditch the wallet — something I have just realized I’ve already done. Smartphone capable payments are now already available via Apple Pay and Google Wallet and now the Apple Pay functionality is extended to the Apple Watch. Yes, the new watch from Apple also allows for the ability to use Apple Pay.
Now you can buy coffee, groceries, and more right from your wrist. Apple Pay will change how you make purchases with breakthrough contactless payment technology and unique security features built into Apple Watch. So you can use it to pay in a simple, secure, and private way.
Think about the level of convenience that now exists. Sure, it’s easy to discredit thinking in the mindset, “Why would I ever need that?” Who knows if or when you will actually need it, we’ve made it this far in life without it so why would I need it now? You don’t technically need it but can you currently purchase anything with your current wristwatch? How convenient would that be to have on a vacation or trip to Disney World?
As always when it comes to new technology, most people will ignore it thinking it’s too hard to set up. These days, however, simplicity is the key to success and that’s exactly what Apple has set up. Simply open the Apple Watch app on your iPhone and select the “Passbook & Apple Pay” option. Then you simply tap “Add a new Credit or Debit Card” and then using the iSight camera on your iPhone you can capture your credit card information. You will also have the ability to enter the card manually through the app. The first card you enter will be your default credit card but you can always switch the card you want to use in the Apple Watch app by double-clicking the side button again and swiping to the preferred card.
To pay with the Apple Watch, you don’t even have to open the app. By double-clicking the side button and holding the face of the watch to a contactless reader, your payment is processed and a gentle pulse and tone will then confirm that your payment information has been sent.
A lot of people’s knee-jerk reaction will be to fear this technology due to security concerns. As we continue the transition into EMV capable payments, the goal within the payment industry is to make fraudulent activity become virtually impossible. Since Apple does not store any of the details of your transaction and you do not have to present the physical card and your name, an additional layer of privacy helps to ensure the safety of your information.
If you have any questions about how Apple Pay works, feel free to tweet us your question to @TrueMerchant or email us and talk with one of our payment experts!
