The Mobile Payment Marketplace : Goat Rodeo

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Case study #1 The Mobile Payment Marketplace: Goat Rodeo Companies from different avenues are entering the mobile payment market very competitively. They are adapting innovative feature to their systems to gain consumers and revenue. While each have their own working platform, their goal is the same, to become the number one system for consumers. In 2014 Apple Pay was introduced by Apple to be used with iPhone 6. By this time other companies have already entered the mobile payment market and have done well. Apple stand alone from the other companies due to the the NFC (Near Field Communication) payment system is theirs. Many major merchants have connected to Apple Pay giving consumers the opportunity shop at different places. Apple Pay is able to offer security and privacy to consumers through its elaborate system. Apple revues from Apple Pay by charging a .15% fee to credit card and to not the merchant. Competitors like PayPal and Square offer more alternative mobile payments systems than Apple Pay. Even through Apple Pay may have some drawbacks, like all things, Apple is a company will continue to produce new technology that will gain future consumers. Question 1 What is the value proposition that Apple Pay offers consumers? How about merchants? Answer: The value proposition Apples offers to their consumers are security and privacy with Apple Pay. Their value proposition of security and privacy can be found on their website. To avoid customer loss of customer

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