Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche


What is Apple Pay and What Are its Advantages?

For those of you who are unfamiliar with it; Apple Pay is a digital wallet similar to PayPal that is only available to iPhone users. The wallet takes the form of an app that can access a user’s bank account or credit card balance.

To pay; all a user has to do is touch the app this causes the iPhone to transfer money or credit directly to the retailer. There are some advantages to this for merchants including:

  • Faster checkout time at the register. No swiping or customer searching for credit cards. This could speed up checkout times and encourage repeat business; because slow moving lines at the cash register are a major customer complaint.


  • The customer can access all of his or her credit card and bank accounts from one place making it easier and faster to pay.


  • Less work at checkout and in the back office. The money is transferred directly to the bank, which handles the paperwork.


  • Theoretically payment will be faster and the merchant will get her or his money sooner.


A major drawback will be the expense of buying and installing a new cash register that is equipped to take Apple Pay. Most such devices sold in the United States will also take Android Pay and Samsung Pay.