Apple, one of the world’s leading technology companies is looking to add a new feature to their portfolio. With the introduction of Apple Pay in October of 2012, Apple already took a big step. This technology allows users to make payments with their phones! Allowing users to pay for things at the touch of a button via their Apple watch, iPhone or iPad. Simply amazing. Now we have all known Apple to outdo itself year after year. From new versions of iPhones being released every year, its software updates every couple of months to new versions of MacBook’s and iPad’s every couple of years. The question now is how will Apple essentially “one up” themselves from Apple Pay?
The answer to that is… Apple is working on a peer to peer payment feature. [Insert Shocked Eyed Emoji here] With this new feature you will be able to send money from a bank account to someone else in a few taps. Apple is currently in talks with JPMorgan Chase & Co. and Wells Fargo & Co. to make the idea come to life. This technology is marketable in different ways. With this technology Apple will be the first phone manufacturer of its kind to come up with this technology. This will increase the value of the product. In marketing terms you can market this feature of the phone by itself. With more than 230 million iPhones sold last year this is a sound investment to bank on.
Apple essentially will be able to market this technology to other banks and financial institutions as well. Soon enough every bank will be able to partner and market this new apple pay feature as a way to gain new clients. Every bank will essentially market themselves as an institution that uses apple pay and all its features. All those institutions that decide not to, will lose out incredibly. You can market this technology to banks and tell them that pretty soon they will be able to essentially handle EVERY banking action via your phone.
Apple continues to shock and impress the world over and over again!