Mobile Payment with Apple Pay There are many new forms of technology coming into the world making daily tasks easier and quicker than before. But the new form of technology that I am going to be talking about is mobile payment options, referring more to Apple Pay, a new service that allows you to pay with your credit and debit cards without having to take them out of your wallet. This is one way to look into the future where you only have your phone and you never have to worry about losing all of your cards. With this mobile payment option new on iPhone 6, you have all of your credit or debit cards accessible in one easy location and it’s even got the extra security of the finger print scanner so you don’t have to risk someone …show more content…
The combination of the NFC antenna at the top of the iPhone 6 and the Terry 4 secure element installed on every new iPhone is what makes the product great. McDonalds have already committed to implementing this new technology in the drive-thru redefying fast food service but there not the only ones: Staples, Panera, Target, Whole Foods, Walgreen’s, Nike, and Subways are also putting Apple Pay at their many locations throughout the United States (Kerris and Muller). There are many new forms of technology coming out in to the world making daily tasks easier and quicker than ever before. NFC technology is going to keep getting bigger with the added security and the ability to keep all of your cards in one place without your information getting compromised. This technology is going to extend beyond just Apple Pay; it will be a way for us to communicate with one another and just simply having everything we need all in one place. Terry 5 Works Cited Bellis, Mary. Who Invented Credit Cards. 9 September 2014. Web. 8 October 2014.
In this micro-study, I will use tools and information available to the public via internet in attempt to hack the iPhone. Currently the iPhone is only sold to subscribers of the AT&T telecommunication service provider and all applications and updates are installed using Apple’s iTunes software. Using various resources I will focus the two main issues which have put Apple and the iPhone user community into the limelight. First, the “unlocking” of the iPhone, which bypasses the iTunes activations process and allows the device to be used on any SIM (Subscriber Information Module) card cellular phone service provider other than AT&T, in this micro-study I will be using a T-Mobile SIM card. Second, I will attempt to “jailbreak” the device, which will allow me to install third-party applications through underground sources and not directly from Apple. As I attempt to hack the iPhone, I will compare drawbacks and benefits of hacking methods, ease of use, and verify Apple’s claims on affecting functionality and possible damag...
This segment can either put Apple on the edge of advantage or decrease the company’s capabilities. Over the years, Apple has proven to be a giant in this field because of its innovative products and services. Apple always takes the led while its competitors follow suit, although this also poses to be challenge for the company, it took Google less than one year to replicate ApplePay, Google called it AndroidPay it has the same capacity to function just exactly like ApplePay. This shows that Apple’s products and services could be copied thereby reducing the uniqueness of the products. Because the short lifecycle of technology, Apple needs to keep upgrading its products and services to stay on the top of the game. “Because the industries in which
advantage, and I will show you how to choose a proper credit card, why you should pay
Among the most recently added features is the option to pay for goods and services using your mobile device. The feature was first available in 2011 with Google Wallet; however, it failed to gain traction in the market. Its many points of failure included the mobile service carriers who sell the devices. One major problem was that it was yet another piece of the very complex string of players involved in payment processing. All of those players had at least some cause to block the service.
As we can see now-a-days, there are many replacements to card payments such as MOBILE PAYMENT options like Apple and Samsung Pay. Recently, Apple has launched finger print (TOUCH ID) payment option in its new Mac-book Pro. Almost every application has its own wallet to pay. But still, as we know that technology is any day not secured. It might not be vulnerable today. But, we cannot predict its non-vulnerability because one day or the other, it becomes vulnerable to any type of attack.
Both token and biometrics are used in the apple pay to authenticate the users’ identity to ensure the security of the payment. The double lock will protect credit card information from hacker better. Apple claimed that the most sensitive financial data will be stored on a special, extra-secure partition of the iPhone's storage called Secure Element. The separation of Secure Element will avoid hacker to access the financial data easily. Also Apple sever will not store the credit card information and transaction information.
In this regard, they are also safe because the cards can be easily replaced, and only the owner of the card know the pin number to access its stored value. This takes care of the problem with cash; once it is stolen it is nearly impossible to trace and recover it.
Unlike the past, technology is a big part of the global world today. The world is advancing in many different ways and technology is a big catalyst. As each day passes more technological advances are being put into effect. The Center of Technology states that “over just the last five years, technology has been rapidly changing and expanding in every field imaginable” (How Technology Has Changed Our Lives in the Last Five Years, 2013). With this in mind, it is difficult to fathom how much it will change in the years to come. In the past, many years of technology were implemented to change the rotary dialer phone to the “brick” cell phone. Changes now of days come faster than we can
The top banking trends are: Mobile banking: Since smartphones have become popular, the mobile phone apps became part of their lifestyle. Many people nowadays are demanding mobile-banking apps, especially the young generation. A survey conducted for Federal Reserve Board’s Division of Consumer and Community Affairs, 51% of smartphone users had used mobile banking apps in 2013, which increased from 3% from last year, and the number is increasing. Therefore, banks need to focus heavily in developing their apps in order to satisfy their customers. (http://www.federalreserve.gov/econresdata/consumers-and-mobile-financial-services-report-201403.pdf (Page 1) 2.
Even as I sit here typing this paper, my own shiny, rectangular piece of molded plastic and metal lies inches away from my fingertips, beckoning me to use it. Looking out the window, one of the first sights I see are people walking with one hand up to their ear, evidence this technology is in use. I can count on one hand the number of adults I know who do not own one these mobile devices. People are now able to be virtually accessible almost anywhere at any time.
The growth of technology has been massive in the past years and this has improved the business world and workplace in general this affects the working life of individuals. Employees of any organization can simply communicate with a client who’s at a distant office across the world. These new technologies offer a broad variety of services and opportunities. They are all part of single factor: they are all increased in efficiency and are all productive.
...e are going to rely solely on our phones for everything. That is what the world is coming to as the cell phones keep getting more and more advanced. We will be so absorbed in our cell phones that we will hardly notice the others around us.
We can use a prepaid smart card embedded for our daily purchasing like pay
In today’s world the vast majority of the population owns a cell phone. Cell phones are a huge part of people’s everyday lives. Since the 1940’s when mobile phones became available for automobiles, phone companies have made huge strides in making mobile phones more efficient, much smaller, and more available for anyone to use. There was a time where only people of wealth had these types of mobile phones. Now people from all social classes own a cell phone. They are extremely convenient and have the ability to do just about anything you can think of. There is an “app” for everything. You can make phone calls, text message, surf the web, pay your bills, read books, catch up on social media, and even listen to you music all from one small handheld device. Cell phones play a huge role in today’s economy. Businesses such as AT&T, Verizon, and Sprint have become huge public corporations with large stakes in the stock market. Between these companies among several other phone companies they have created millions of jobs and opportunities. Cell phone companies have now created what are known as “smart phones”. These phones are typically slim and sleek and have countless versatile abilities. However, cell phones have not always been so “smart” or small for that matter.
For instance, the seemingly innocuous mobile phone is actually playing an increasing role in facilitating monetary transactions, especially in Asia. Already, in Japan, large companies such as Coca-Cola have sanctioned vending machines that are not only compatible with common cell phones but also allow consumers to earn credits for using them (Kupetz). In this regard, the United States is strikingly behind the times when compared to other countries. Another new technology in the vein of mobile phones is no-contact cards. These innovative cards do not require a cashier to conduct a transaction; one simply holds a specia... ...