The way we pay for items has changed significantly over the past decade. We are moving from using cash to using cards and other digital forms of payment, with Apple Pay being a good example. In terms of online payments, we have many options and Apple Pay is one of the most prominent. Apple Pay has changed a lot recently but how has it evolved over the last 5 years?
What is Apple Pay?
Apply Pay allows you to make payments using your Apple mobile device without having to use cash or a card. The money still comes out of your bank account, but you can store multiple cards on your iPhone and Apple Watch and use them in the same way you would use a card. When shopping in physical stores, you can tap your iPhone or Apple Watch on the payment device to purchase an item. When using Apple Pay online, you can click the Apple Pay button at an online retailer and complete the purchase without having to enter any card or bank details.
Number of Users
Before we get into some of the technological ways Apple Pay has evolved over the last 5 years, one of the major changes has been the number of people and businesses using the payment method. At the time of writing, it is believed Apple Pay has over 500 million users worldwide. In the United States alone, Apple Pay has roughly 45 million users and over 85% of American retailers accept Apple Pay as a form of payment at the register. The number of retailers accepting Apple Pay has increased significantly in the last 5 years and more online businesses are accepting Apple Pay. Online gambling is a good example of an industry that is widely accepting Apple Pay, as seen on the Mobile US Casinos site. It is even possible to use Apple Pay when using public transport and in 2019 New York City Transit announced support for Apple Pay on busses and subways. Apple Pay availability has expanded in recent years and is available in over 50 countries and regions across the world.
Paying Using Face ID
One of the major changes to Apple Pay over the past 5 years is the introduction of Face ID. When completing a payment using Apple Pay in a store or online, you can use your face to authorize the payment. All you must do to complete a payment using Face ID is glance at your phone. You can even setup the phone to use Face ID with a mask, meaning if you need to wear a mask when you are out shopping, you can still use Apple Pay with Face ID to make payments. When making payments online using Apple Pay Face ID, all you must do is choose Apple Pay as the payment method, double-click the side button of your phone, and then glance at the phone. Paying using Face ID is one of the major developments in payment technology over the past 5 years.
One of the most exciting recent additions to using Apple Pay is in iMessage. By having Apple Pay available in iMessage, Apple have introduced peer-to-peer money transfer for everyone using an iPhone and Apple Watch. Introduced first in the United States, the Apple Pay feature in iMessage means you can send or receive Apple Pay cash using iMessage. So, if you are chatting with a friend about attending an event and you books tickets, the other person can send you the payment for the tickets instantly using Apply Pay in iMessage. Apple Pay is also available in Business Chat and can be used in the same way.
With the introduction of so many new and exciting ways to use Apple Pay over the past 5 years, it will be extremely interesting to see how the payment service continues to develop in 2023 and beyond.