Apple CEO Tim Cook wants to weave artificial intelligence deeply into our lives, and he’s ready for a cashless society. The iPhone and Mac maker’s planned research center in Japan will play a role in those plans, and the country could be at the forefront of plans to push Apple Pay as the standard for a no-cash world.
Apple Pay is Apple’s mobile payment platform and digital wallet for storing tickets, passes, and other digital assets. It can be used at most contactless payment terminals, as well as for making purchases on websites that have incorporated Apple Pay into their shopping cart. The Apple Pay iPhone app is also where you manage your Apple Card credit card. Apple Pay also includes Apple Pay Cash, a peer-to-peer payment system.
It seems that too many corporations and banks want to create rival alternatives to Apple Pay. They have their own agenda for inserting themselves into the payment process, but always seem to forget that putting themselves ahead of the customer with half-baked, potentially problematic systems is never the right thing to do. Most will have to learn the hard way.
An interesting story is developing around Samsung Pay: the first part is that transaction tokens can be intercepted; and the second part is that Samsung calls this an “acceptable risk” because it’s hard to do.
Computers play better chess than humans. They can be instructed on how to do detailed manufacturing, beyond the abilities of humans. They shrewdly buy and sell stock. They can read medical literature and aid in the treatment of disease. It won’t be long before even the last bastion of the human mind, creative writing, will be replaced by AI agents. John looks at the trend line.
Apple Pay is technically very cool. It has many devoted fans and is growing overall. However, despite its popularity in geek circles, it is not being embraced by the majority of those who are capable of using it. The problem has many aspects that, altogether, create a continuing challenge for Apple. A recent analysis of Apple Pay delves deeply into its slower than desired adoption.