APPLE PAY CASE ANALYSIS.docx - Running head APPLE PAY CASE...

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Running head: APPLE PAY CASE ANALYSIS 1 APPLE PAY CASE ANALYSIS MKT701 Michael Ward 18/08/2019
APPLE PAY CASE ANALYSIS 2 Apple Inc. company came up with a new payment method to replace the simplified transaction approach of using credit and debit cards. These forms of payments are involved in daily operations of $ 12 billion in the United States. This means that in a year they are involved in a transaction if $ 4 trillion in U.S. Two hundred million transactions and 200 million times we usually use debit or credit cards in our daily business activities that are paying or receiving payments. The company gave a solution to clients who had problems with the use of credit cards and debit cards and the ones who believed that with this form of payment their personal information was likely to be compromised or stolen. The Apple pay (the new way of payment by the Apple Inc. Company) would appropriately remove the all- time use of credit and debit cards when making transactions with the company. The original method would substitute the use of credit and debit cards when making transactions. The Apple pay is secured by the use of touch ID as well as a secure element which has a new chip involved in each iPhone 6 and it ensures that the information regarding a payment made by the customer is secured and encrypted. The new strategy was good thought and innovation, and it assured that things happen quickly and conveniently. It ensures that

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