Apple Pay- The Technology and Demand

Apple Pay will replace all cards?

Apple Pay the newest technological endeavor of Apple Inc. is really fascinating. But the question is Is it going to replace the Credit Cards? The following steps taken by Apple are really promising to do so.

The Resources are with customers and investors

Apple has tied up with the major banks and financial players. But they do not hold the resources wholly. The customers are not ready to embrace this technology. They have security concerns as well about the information theft. This has been magnified with the recent incidents of fraudulent transactions. A recent news article on The Wall Street Journal has illustrated the shortcomings. The data thefts are happening mostly at retailers’ end.

Apple is acting as if the technology will succeed. That is a big assumption and may not be so. The biggest hurdle is the extra payment that needs to be done for the technology. The end-user will be concerned with the above two worrying factors.

Large companies’ growth needs are larger and not satisfied with small markets

The profit of Apple Pay will be insignificant with the current dynamics of Apple Inc. But the good thing is Apple has realized well that this technology has the future. Now it may be an insignificant market but has huge potential for growth.

The response of Apple is the same harnessing response and setting up of a separate division. Apple too acknowledges it to be a disruptive technology at the moment.

Non existing Markets cannot be analyzed

At present the market for Apple Pay is very limited. The company has done research but it is limited as it completely new technology.

However Apple is proactive in this case and has a separate group of people looking after the matter. They also have a department which is looking after the failure aspect of the technology. So, the way it is being handled, it is sure to succeed.

History of Communication Technology

Communication History

Communication has been the cornerstone for development of civilizations. The civilization with better communication technology advanced much faster. So what were major developments in communication technology. Well friends communication started when people started sending message orally from one area to another area. Let us look at the major developments.

  • Oral Announcements and Smoke signals – This was called announcements, the earliest form of communication. The person with loud voice was revered in the community as script was not yet developed. The message was preceded by sounding drums etc. Also messages were send using smoke patterns.
  • Written Communication and Coding – When writing was invented, the messages were written and distributed. Even now the message was supposed to be carried around by people. Mail delivery became an industry because of the need growing every day. Coded messages were also invented. Morse code is still used.
  • Telephone – Telephone invention by Alexander Graham Bell in 1876 led to a revolution. Now messages could be spoken personally and without actual travel. It was an amazing invention.
  • Cell Phone – When I was a kid I used to wonder why the telephone could not be carried around. As I grew old I realized it was due to wires. Cell phone came with a new wireless technology. Now you could carry your phone, talk from anywhere and also send short messages.
  • Internet and computers – Internet and computers revolutionized the way written communication was being delivered. With computers and emails the mail delivery became electronic.
  • Smartphone/ tablets– Invented by Apple the smart phone really brought all technologies together. Now internet was on the phone along with emails. Soon computers would become obsolete. Technology is changing at breakneck speed.