Juwan Latimer
Fin 320
Current Issues Project
1/17/2015
Apple Pay and Bitcoin are both relatively new means of payment that are catching the public eye. Although they share some similarities, they are quite different in the way they work. Apple Pay is a method of streamlining the payment process at credit card terminals, while Bitcoin is a completely new form of digital currency, which offers its own means of payment.
Apple Pay is a means of payment created by Apple Inc that allows its users to pay using their mobile devices such as the iPhone 6 and Apple Watch. Apple pay is very similar to paying for transactions on a credit card except apple pay is completely digital. Users of apple pay can use their mobile device at checkout to
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Once the user is authenticated by the iPhone, the transaction will complete successfully given that funds are not insufficient or that there are no issues with the credit card company. Users will feel their iPhones vibrate to signify that the transaction was successful. Users pay with the Apple Watch in a similar fashion. Users hold their Apple Watch up to the sensor on the credit card terminal but instead of pressing the home button, the user double clicks an elongated, silver, oval shaped button located below the digital crown, which is a small circular structure with ridges (D’orazio).
Apple Pay connects to credit card terminals using near field communication. In order for near field communication to work, both devices must contain a near field communication enabled chip which allows data to be wirelessly transferred between devices. There are two methods of near field communication. The first is two way communication in which data is exchanged between devices in which near field communication chips are installed. The second is one way communication in which data is only modified on only one of the devices. Apple Pay uses one way communication because it utilizes the sensors on credit card terminals, which modify the data on the near field communication chip located in the iPhone6 or Apple Watch. Near field communication enabled devices, like the name suggests, can only communicate with devices that are very close to them and are no more than a
Apple Inc. has hardware and software products which provide omnichannel devices for other retailers. Apple Inc (2015) shows that the company developed Apple pay which allows
Apple’s business model is geared towards the hardware and software of its products. Also they focus on its mobile software applications, which is widely popular among customers due to the app store iPhone users. the applications on the app store are available for user on apple products and one of a kind compared to the less popular applications offered by Google and Facebook
Based on the Timberland case study there’s a reference to how the application was not only designed to give the city dweller everything they need – from music to maps to hiking trail suggestions and a game- to find outdoor adventures that are close to home , but also to buy Timberland gear along the way. (Class Notes). In this second part of my research I will explore mobile payments for a fast-food company known as Chick- Fil- A.
Recommendations Based on the situational analysis, it is clear that Apple Pay Canada needs to make some changes in order to become a more successful service. First and foremost, Apple Pay Canada must allow the collaboration of credit cards, other than the American Express. This credit card is not widely used in Canada versus other credit cards like Visa, MasterCard, etc., which are more extensively employed in Canada. Secondly, Apple Pay Canada must associate itself with Canadian Banks that are well known and greatly put to use by Canadians, and allow them to issue credit cards that are compatible with Apple Pay to their clients. Thirdly, Apple Pay must give its consumers more mobile options to use the Apple Pay app besides the iPhone 6 or
The exact definition of Near Field Communication (NFC) is a set of communication protocols that enable two electronic devices, one of which is usually a portable device such as a smartphone, to establish communication by bringing them within 2in of each other. For example, if I have an iPhone specifically it will connect to the Internet and can exchange data with online services. Different providers such as AT&T Mobility, Verizon Wireless, T-Mobile USA and even Apple have joined in this new interesting way to handle their e-pays.
Apple is an American technology company headquartered in Cupertino, California. The company is well known for their devices including media electronics, personal computers, portable music players, smart watches and other software, media devices and services which they design, develop, and sell. In addition to the products listed above, the company also offers many third-party Apple branded mac-compatible and IOS-compatible accessories including but not limited to headphones, cases, displays, and storage devices. The mediums for which they sell their products are retail stores, online stores, their extensive direct sales force, third party cellular network carriers, and wholesalers. Furthermore, they have their own large collection of digital content and applications through the ITunes
Apple Inc. is an American multinational organization that design, manufactures and sells the high technological electronics, online services, computer software and accessories. The product and services of Apple Inc. consist of iPhone, iPod, iPad, Mac, Apple watch, software (ios operating system, icloud) and so on. Apple is the leading brand in the mobile market across the globe. Apple delivers the applications through iTunes store, Mac App Store developed by the Apple Inc itself. The company offers its product worldwide via different retail stores, showroom, online stores,
"Apple is a California corporation that was established in 1977. Apple is a company that designs, manufactures, and markets mobile communications and media devices, personal computers and portable digital music players. It is also a company that sells a variety of related software, services, accessories, networking solutions and third party digital content and applications.” iPhones, iPads, Mac, Apple Watch, Apple TV are some of products that the company sells through retail stores, online stores, direct sales forces and through third party cellular network carrier, wholesalers and valued-added retailers.
The focus of the Committee was not merely on enabling payments, but to strengthen the ecosystem for “digital” payments. The question therefore why “digital”.
Apple is an American electronics company that sells phones, laptops, computers, and iPod. They are a business that works in the private sector, they have no government input. Apple design and makes their own products, this can include, the iPhone, iPod, iPod touch, iPad, iPad mini, MacBook pro’s, MacBook air, apple TV, etc. Apples products that the products that other business provided. They created a completely touchscreen phone, the iPhone. They then created the iPod touch, which is like the iPhone, as it is touch screen and it looks like the iPhone, but it doesn’t have the qualities of a phone. They also made the iPad and iPad mini which are bigger versions of the iPod.
Tap your phone to pay and redeem offers, using NFC (near-field communication). NFC payments are currently only available in the United States.
NFC technology is required to use digital wallet credit card payments for purchases at the check-out counter or for online purchase. There is a passive tag in your credit card that is activated when it comes within 10cm of an NFC initiator device. The NFC initiator is the POS (point of sale) or check-out counter card reader in the store. Most smart phones use NFC so your phone can act as your credit card as soon as you set it up and store the information from your card. Once your phone is set up, all you need to do is hold your phone within 10cm of the same card reader at the store and it will pay for the purchase just like your card.
Apple is an American multinational company that produces computer software, cell phones, personal computers, and other electronic products for consumers. Some well-known Apple products include: the iPhone, the iPod, the iPad, and the Macintosh line of computers. There are many Apple retail stores in America, as well as overseas. “Apple software includes the Mac OS X operating system; the iTunes media browser; the iLife suite of multimedia and creativity software; the iWork suite of productivity software; Aperture, a professional photography package; Final Cut Studio, a suite of professional audio and film-industry software products; Logic Studio, a suite of music production tools; the Safari web browser; and iOS, a mobile operating system.”(What is Apple?).
Since this technology is so new, we first have to look at how it work by looking at what we do know so far. Apple Pay’s speaker, mentions that users will start off by entering their card into a secure app called Passbook. Passbook is a secure app made by apple in which adds another security layer to the iPhone. The apps purpose is to keep track of users: debit cards, credit cards, iTunes cards, boarding passes, and etc. When the user goes to add a debit or credit card to Passbook, the user normally has a couple of choices they can choose from. They can either add their default card they use for iTunes purchases or they can enter in a new card. When they enter in their card in manually they
Apple Inc. is a technological corporation that offers personal communication devices and the solutions to the related software,. The products produced by Apple Inc. include; iPhone, iPad, Mac, Apple Television, iPod, software applications, the iOS and OSX operating systems, iCloud, and many different accessories and the support offerings. Apple Inc. is also a supplier of digital content and applications via the services and support offerings. The products sell across the globe through the retail stores, the online stores, and direct sales force and also through a third part cellular carriers, wholesalers and retailers. Moreover, Apple has also managed its business on the geographic basis of America, Europe and Japan. Every operating segment provides similar hardware and software, and services. The segment of America is made up of the North and the South America. The Europe region is made up of all the European nations and India. The Middle Asia region comprises of Australian nations, and the Asian countries. However, the rest of the organization operates in other regions across the globe. Over the past years, Apple has emerged among the successful corporations and its products have dominated the market attracting consumers from different parts of the works. The products of Apple are also among the most trusted products electronic devices across the world despite the prices of these products on the market. Like any other