- ClicktoTweet “Measuring the Impact of Apple’s Role in Payments”
The possibility of Apple playing an increasing role in payments, one that leverages its entire ecosystem of online digital stores, brick-and-mortar retail outlets, and line of mobile devices to facilitate payments, has spurred considerable interest and debate within the payment community and tech press. The question then is what does Apple stand to gain? And more importantly, what does Apple's presence in the payment landscape mean for retailers, banks, processors, and other stakeholders?
Highlights of the report include:
- How Apple's solution, regardless of how it develops, will be aimed at making Apple's devices more competitive, not disrupting the current payment market.
- How any competitive solution will support multiple technologies and will focus on facilitating a wide array of payment and purchase use cases.
- Apple's entrance in payments will help the entire mobile payment space, creating a tipping point for the adoption of mobile payments for both consumers and merchants.
"Apple has been actively involved in making payments more convenient and streamlined for consumers who use its device," said James Wester, IDC practice director for Worldwide Payment Strategies and author of the report. "Apple's unique role as a device manufacturer, OS provider, and online retailer means Apple has the ability to impact the way payments evolve like few other companies. Merchants, issuers, processors, and other payment stakeholders will need to understand that impact and begin adjusting their investments and strategies accordingly."
For additional information about this report or to arrange a one-on-one briefing with James Wester, please contact Sarah Murray at 781-378-2674 or sarah@attunecommunications.com. Reports are available to qualified members of the media. For information on purchasing reports, contact insights@idc.com; reporters should email sarah@attunecommunications.com.