Apple Pay, A rookie to the FinTech ring or a heavyweight champion?

by: Denis Thomas

Twitter: @tdenisk

Energizer Effects

Apple will continue to innovate on the FinTech platform but Apple Pay displays Apple’s vertical integration efficiency through seamless blending of hardware, software, and user-friendly interfaces into a harmonious ecosystem.

The above attributes are specific to Apple Pay and this will definitely energize the iOS ecosystem.


Apple does a phenomenal job on privacy concerns by not storing the following:

· What you bought?

· Where you bought it?

· How much you paid for it?

Apple also refrains from exchanging any credit card information with merchants during transactions which further boosts its security mechanism.

This reminds me of Google’s (GOOG) policy, “Don’t be Evil” and it would be interesting to observe how far Apple remains honest to their commitment.


Apple Pay is a new but comprehensive payment solution as 83% of financial institutions across America have already adopted it.

An average of 22,000 stores have already signed up to adopt Apple Pay. Some of the names include Starbucks, Whole Foods, Bloomingdales, and Disney…etc.

Who else is onboard?

Potential for Data Analytics

Apple isn’t storing transaction information and one might contend that the potential for Big Data usage is almost missing in this scenario.

Is Apple wrong in doing so?

Financial Impact

Apple Pay is definitely going to affect stock prices. Up or down or steady is still a topic of debate.


Is Apple Pay the winner? What do you think? The answer to all the above questions and more shall be revealed in my complete article.

Editors Notes: This entry has been submitted to the FINTECH Book, the world’s 1st globally crowd-sourced book on FINTECH. Readers that enjoyed this innitial abstract are invited to share and like it so that it may be featured in a longer version that will published in the FINTECH Book due to be released November 2015.

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