In many of the fields that I work in, collaboration is a necessity. Some of these projects, like the UDI Program, are internal. Others, like GHX or GS1, are external. In each of these cases, there is the challenge of trying to get personnel or organizations with vested interests in the status quo to take actions which may run counter to their short-term interests. Even if it is in pursuit of a shared long-term goal, it can often be difficult to get anyone to look past the standard question of "what's in it for me?".
In today's USA Today, the Money section has a lengthy article on Apple Pay.
Apple is in that same quandry with Apple Pay. This ambitious proposal attempts to allow for the use of mobile devices to authorize payment at the point of sale. There have been previous attempts to do just this before in other industries. There are many places in Europe that allow users to use their cellphones to make payments. Google Wallet was another attempt that has not yet succeeded in any meaningful way.
In this case, Apple may have a chance to succeed where others have not. They have established a large network of retail outlets that are willing to accept their network and authorize the payments. This is a very costly effort, since the retailers will either have to retrofit or purchase special terminals that will work with the Apple devices that now use the Near Field Communications (NFC) protocol. It will also force interested users to upgrade to the latest iPhone 6 or 6 plus in order to take advantage of these efforts.
One potential advantage Apple may have in this effort is the recent focus on card security. Major breaches at Target, TJ Maxx, and Home Depot are accelerating a push towards more secure forms of commerce like the chip and pin credit cards.
Competitors are already starting to worry about this new threat. This may mean that this attempt finally makes this method of payment viable. Here is a link to an article discussing how PayPal is trying to adapt:
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