How Technology Develops The Way We Live Our Daily Lives

1543 WordsOct 8, 20157 Pages
Introduction In the modern society, there are a myriad of methods in which technology revolutionizes the way we live our daily lives. As new technology develops, we are met with new innovative ways which changes our approach and furthers our ideas for future implementation. Apple has introduced a new platform of payment made available to the public, replacing our current knowledge and approach to the way we use our wallets by digitizing our own personal form of payment. Apple Pay revolutionizes the method in which people will exchange currency for goods and services. Currently the most common forms of currency are paper bills and credit cards, but Apple has come out with a new application with the potential to allow consumers to purchase…show more content…
Apple Pay will revolutionize a new standard of currency and help catalyze the growth of mobile payment as a global standard. Background Apple is not the first company that came up with the idea of mobile payment, but the company has developed the mobile payment system into more than a just concept but a product that can be incorporated into our daily lives to modify our current system of payment. Apple has convinced numerous individuals to trade in their wallets in exchange for their smartphones. There are other companies such as Google Wallet, and Isis Mobile Wallet (Bergen, 2014), but it did take some time for consumers to dip their toes in the water. With the help of Apple’s contagious popularity, the usage of Apple Pay is slowly but steadily growing. According to Hof (2015), “Now merchants have people walking in saying, 'Why can 't I use Apple Pay? '” Years before Apple Pay became available to the public, consumers have been making in-person purchases with their smart phones. According to a U.S. Federal Reserve survey, 17 percent of all smartphone users have made purchases with their phones (Hof, 2015). This may not seem like a large number, but it’s a start to a new rising revolution of tech-savvy young adults who are eager to embrace advances in technology. Now Apple Pay is available with the new Apple Watches and customers have the convenience of

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