Tencent Technology News: The online version of Forbes magazine in the United States wrote on October 11 that although Apple Pay has started slowly, it still has great potential and is expected to replace most of the functions of traditional wallets in the future. The following is the full text of the article: Judging from recent media coverage, you might think that Apple Pay has failed. But you would be wrong. As I recently wrote in a column, you shouldn't expect Apple's mobile wallet to take off like wildfire. Right now, few retail stores have installed checkout terminals that are compatible with Apple Pay, with some people (wrongly) worried that it's less secure than credit cards, and others simply swiping cards instead of using their iPhones out of habit. But payments and retail experts say that could change within a year. Apple CEO Tim Cook is betting that 2015 will be the "year of Apple Pay," at least in retail stores. It’s too early to write off Apple Pay, but here are six reasons why the service could thrive in the coming years: 1. Apple is already in the lead: Mobile wallets may still be an emerging field, but according to data from payment consulting firm Crone Consulting, Apple Pay already accounts for three-quarters of the market share. 2. Merchants will gradually support: Major US banks have announced that starting October 1, retailers that do not accept new chip cards will be responsible for bank card fraud. Checkout terminals that can support chip cards can also support ApplePay. Although the deadline has passed, 73% of retail stores have not yet replaced their terminal equipment, so it's time for them to plan this project well. 3. Chip cards are slow: New chip and signature cards have slower transaction speeds than magnetic stripe cards, which gives Apple Pay and other mobile wallets room to grow. 4. Payment habits are changing: thanks to the popularity of apps like Starbucks and Uber, more and more people are finding that they can pay quickly with their phones. Apple’s initial target is fast food restaurants and grocery stores, so it can gradually cultivate people’s daily habits of using mobile phones to pay. 5. Small businesses are gradually catching up: Although many large retailers have begun to accept Apple Pay, some small businesses have been slow to upgrade due to the high cost of replacing equipment, so the popularity is relatively lagging behind. Apple has recently begun to increase its attention to such companies and said it will add 80,000 small and medium-sized enterprise partners every month. 6. Points cards are a secret weapon: Apple began to facilitate retailers in June this year, making it easier for them to install points cards into Apple Pay, and also encouraged them to use Apple Pay through other incentives. Apple also introduced Starbucks' points card this week, which may be the most important project introduced by the company. It may still be a few years before Apple Pay becomes widely available, but there’s good reason to believe that it won’t be long before your phone takes over most of the functions of a traditional wallet. As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity. |
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