The much awaited Apple watch hits stores on April 24th and among its many features is an in-store payment option. So will the watch be a key component in Apple’s mission to own mobile payment? It seems simple enough. Double tap the side button and your credit card pops up. Tap the screen on an NFC enabled terminal that picks up the watch signal and the transaction is made via Apple Pay. Once the payment has gone through, the watch will vibrate. It all looks very user friendly, but will it be a hit with consumers? There have been some concerns about the $349 starting price for just 18 hours of battery life. Plus you can already complete most of the Apple watch activities on your smart phone. Vendors are rushing to jump on the Apple Pay bandwagon, by the end of the year you’ll even be able to use the technology in thousands of Coca Cola vending machines. But so far consumers have been slow to adopt mobile payments. The latest research shows only around 24 percent of consumers say they are likely to make mobile payments. So maybe the Apple Watch will bring some much needed convenience factor to the mobile payment race.
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