The Social Corporate Responsibility Of The Brand

One key element of Apple’s strategy in computers, personal media players, tablet computers, and smart phones is product innovation, diversification and development. Over the years Apple has been very successful in integrating software and hardware in new developing products. Despite the struggling economy in recent years, Apple has been able to grow their market share and stay ahead of the game.

There are also challenges that this industry is facing such as restrictions on online payment services by the government and agencies, security of information and data, and adaptation is also a problem. There is a race to control online payments and data processing that includes large known corporations such as Google, Apple, Samsung, Visa, PayPal, Square, Intuit and others more. And these corporations are very far ahead in the industry in terms of technology and consumer market. Apple last year had introduced the app called ApplePay, which enables you to store credit card and debit cards information and even gift cards and pay directly from your phone by

As technology advances over the years, we have experienced and noticed that the trend in how payment are received have shift tremendously. Twenty years ago, check was the preferred way of payment. In today’s world, more and more payments are done by credit cards. Credit card transactions are instance that provides a faster payment method.

Although major retailers have had credit card breaches, which devastated consumer trust in credit, Mobile payment systems stay efficient, but risk personal and financial data fraud similar to plastic credit card usage theft. Patrons fear merchants can track your shopping habits, location and financial records using a mobile GPS signal. Nevertheless, worries that someone can steal their information when sent wirelessly therefore consumer confidence remains low. Thorough safety measures will help give customers composure and regain assurance. (Busby, 2014) (Sapienza, 2013)

Payment processing has become more universal. Each transaction, whether it's in-store, eCommerce or mobile, needs to deliver a seamless integrated buying experience at any time of the day and on any device being used.

Mobile payments are defined as payment services operated under financial regulation and performed from or via a mobile device, namely a cell phone. The use of mobile payment is a substitute for traditional forms of payments. The idea to use non-coin-based currency systems has been developing for years yet it is only now becoming popular. Nowadays, most phones are produced from three or four companies due to economies of scale. This has meant that having five or six mobile payment apps is feasible and profitable due to network effects. If there were a hundred mobile payment apps, less people would use them because it is likely that no two people will have the same app, and thus it cannot be used for

. Mobile payment users >190 MM in2012, which is over3 % of total mobile users worldwide a level considered as "mainstream”

The cost is identified as an investment concern. Customers will often opt for an option that is viable which refers to that ventures that which offers a strong performance-to-price advantage. Fenu &Pau (2015) analyze the tendencies and features of mobile banking applications. The journal establishes that banks invest more on mobility through enhancing mobile applications by offering mobile payment services that are new. The feature of the device being used also play a role. In some cases, certain mobile may have limited capability of inputting data or displaying it making implementations of mobile banking applications more

The developer is none other than Apple Inc. It was released on 20th of October 2014 and the service was announced at Apple’s iPhone 6 event on the 9th of September 2014. Apple’s CEO Tim Cook defined the magnetic stripe card payment process on the credit cards or debit cards as broken for its dependence on plastic cards. Not only that he mentioned that the card payment is outdated and vulnerable magnetic interface, and also expose numbers and insecure security codes. (Jeffries, 2014). One of the co-inventor of apple is Ahmer Ali Khan from Pakistan. Khan structured a model for building a smart-phone based payment system. In 2011, Apple selected Khan to apply his concept into practice. In 2014, Khan alongside other six inventors filed a patent for what the world now knows as “Apple Pay”. (“APPLE PAY: CO-INVENTED BY A GIKIAN”, 2014).

Outside of the classroom and the office, technology is still omnipresent. The internet, like most advancements and perhaps the best known example of modern technology, began at a military level (“Information Technology” 2) and wound up eventually landing in the laps of businesses and the common person. With this, the normal way of conducting business changed dramatically. Instead of physically exchanging money, it is now possible to use a website like PayPal to make transactions (Friedman 84). This transaction can occur from a computer, smart-phone, or some other electronic device, possible because an extraordinary amount of people, especially young adults, now carry them around constantly (Champy 1). It may have been inevitable, but it is still staggering to see how much these advancing technologies has become commonplace.

The online payment marketplace is experiencing an explosion of innovative ideas, plans, and announcements, which one commentator has likened to a “goat rodeo”, a chaotic situation in which powerful players with different agendas compete with one another for public acceptance, and above all, huge potential revenues. Others liken the payment marketplace to a battle among the four platform titans Apple, Google, Facebook, and Amazon. Each of these titans have their own versions of a future payment system that challenges the other players. And let’s not forget PayPal, the reigning power in alternative online payment, or the credit card companies who process over 70% of online payments, or the

In January 2015, Wirecard, a German payments technology provider, launched a wearable wristband which allows users to make a payment using Host Card Emulation (HCE) at any contactless POS terminal. Users are required to simply swipe the wristband near the POS terminal to make payments, and the details of the transaction is displayed on a real-time basis on the screen of the wristband and in the smartphone app.

Online payment processing services perform transactions at a much greater speed than manual processing. As well as ensuring error-free computations and faster processing time. Which means

Technology has been advancing at a rapid pace to deliver robust, secure and convenient payments solutions. This enables rapid delivery of payment services to large sections of the population.

The last decade has witnessed a lot of growth of mobile communication devices and wireless technologies across the globe. This has led to a change in the way many activities are conducted and opened the way for m-commerce, which is e-commerce's next evolutionary stage. The significant power of m-commerce is primarily as a result of the ability to connect wireless devices anytime, anywhere (The Future of Mobile Payment Systems : Rise of the Mobile Wallet 2012-2017 [Electronic version], 2011).