With the CEO of Apple, Tim Cook, and other Apple executives demonstrating the usage of the next Apple big development, Apply Pay on Thursday, October 16, 2014, many are beginning to wonder whether this new technological innovation will be the next revolution in Apple’s lengthy and popular technological history.

Yes, Apple was won over countless consumers with their continual development of thinner iPads and their sleek Macs, but how is the public as well as other businesses going to respond and launch on Monday to a new technology that is designed to essentially convert your iPhone into your wallet?

In essence, the Apple Pay method goes live on Monday, October 20, 2014 and is said to put Apple on another level in terms of access. Countless consumers are going to be going through apple in order to make transactions and as of yet hundreds of banking institutions are already on board with incorporating Apple Pay into their payment method options.

It is also important, however, to note that the craze for Apple Pay may be limited for some time simply because the option has only been designed and is able to work on the company’s newest set of iPhone’s released to the public. These devices contain a special chip that enables the Apple Pay option to be utilized.

Logistics of Apple Pay involve the consumer to go to a special terminal which will be made available to retailers where Apple Pay is now accepted. Although the art of mobile pay is not new for consumers, the launch of a hands free and phone wallet system comes at a good time for consumers who are often weary of paying with their debit and credit cards in stores due to many fraud issues in the last few years. All are waiting to see how the unveiling Monday may cause a revolution of some sort.

References:

http://www.todayonline.com/tech/will-apple-pay-be-next-irevolution
http://www.theblaze.com/stories/2014/10/16/apple-unveils-mobile-payment-system-that-will-change-the-way-we-pay-for-things/