Apple Pay Is Killing the Physical Wallet After Only Eight Years

When Apple Pay first came out in 2014, it wasn’t popular and major retail stores said they would never adopt this style of payment. Eight years later, many people and stores claim that they cannot live without it and are waiting to see what Apple does next.

Apple Pay

With Apple Pay, you can make mobile payments without carrying a real card with you at all times. With Apple Pay, you may use the NFC in your iPhone to make purchases at stores in 69 different countries.

Using your iPhone or Apple Watch, Apple Pay’s one-tap method made processing payments simpler.

This gained popularity notably during the epidemic when contactless payments were needed.

Apple Pay Raise In Popularity

Future Of Apple Pay

As contactless payment grows, more and more retailers will continue to add Apple Pay to their stores.

Apple has also announced that they will add peer-to-peer one-tap Apple Pay. This means you can use your iPhone to pay and receive payments from other people using Apple Pay.

This feature will be huge for small businesses. Now, these businesses do not need to purchase any additional hardware or payment terminal. They can just use their iPhones and take payments from other Apple Pay users.

Apple has said this feature will roll out with a software update later this year.

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