December 18, 2014
The launch of Apple Pay may have been the most impactful announcement of any tech firm this year. The tech titan with the Midas touch and customer experience extraordinaire will finally make mobile payments work where so many other have stumbled. I will finally be able to leave my wallet at home and transact anywhere I want with my (ever bigger) smart phone. Great!!
Well, great that is if you are an Apple iPhone user. But if you are like me and roughly 51% of smart phone users in the US, you have no access to Apple Pay because you have an Android phone.
This is a major problem for banks joining Apple Pay. As a bank, you want your mobile services to be available to 100% of your customers. Just imagine providing remote check deposit functionality to only your iPhone users and none to your Android users.
The scale of the problem is e ...