Apple has always been a game changer. They changed the music player concept with iPod, smart phone concept with iPhone and tablet concept with iPad. Now they are ready to change the world of e-commerce with their latest app Apple Pay. The app will be exclusively available with iPhone 6 and Apple Watch. It makes a huge case for bringing a paradigm shift in e-commerce shopping payments.
How it works? How it will benefit the e-commerce business? Let’s find out.
Mobile e-commerce, the next big thing
With nearly two-third of the world’s population having a mobile or tablet in its hands, e-commerce business is smartly shifting to smart devices. Feasibility of the device to do online transaction and numerous easy to go pay options are making mobile e-commerce famous among shopaholics.
Availability of diverse shopping cart apps, various ways to do two or three step transactions and remembering lesser number of passwords and credit card details has helped mobile e-commerce grow big time.
The current scenario shows Apple dominating the mobile e-commerce. 51% of mobile shopping is done from iPhones and 80% shopping from tablets is done from iPads. It clearly states that Apple is the largest player in the field. However, the trends actually indicate a dip – its share has gone down from 75% to 51% in the last two years.
A need for an app that would help Apple gain back its base, build high standards and recapture the market was felt. The app now makes an appearance with iPhone 6.
Apple Pay – changing the rule
This is the real modern wallet. There are ample apps facilitating online transaction in the market. But they stumble at the same point – a long list of forms must be filled for every transaction. Apple not only makes it much simpler but takes the whole concept to another level. Apple Pay is your long awaited one-touch transaction payment.
The wallet stores your credit card information, makes transactions faster and consequently allows quick checkout. It skips all the tedious levels and carves out a safe and substantial short cut. Forget the long list of passwords, annoyingly long checkouts and complete you transactions in one touch.
Additionally, offline transactions can also be done using the app via NFC (Near Field Communication) at a Point of Sale (POS).
Change in e-commerce business
E-commerce business is one of the fastest, easiest and most hassle free way of shopping. It helps you skip the elaborate routines of shopping malls and saves valuable time. But it is back to square when you waste time on long checkouts. That hurts! Surveys suggest half of such disappointed customers never come back to the electronic mode.
Apple Pay’s one-touch, fast and reliable check out option will reassure such customers and bring them back on the e-commerce platform.
The nearest any technology has come to Apple’s innovation is Amazon’s one-click facility. This option, however, has the limitation of being desktop specific. Apple brings it on smart phones and makes it ‘one-touch’. In a nutshell, it makes online shopping friendly with the new generation.
Apple might also tie-up with retailers and offer promotional deals to the consumers via Apple Pay.
The fast and secure transaction plus exclusive offers and Apple’s brand name will turn the fortunes for mobile e-commerce.