Apple iWatch to Include Payment-Enabled Technology?

shutterstock_143904868Apple’s much anticipated fall announcement is set for next week, and rumors have put wearable tech at the forefront of what the company will premiere. If valid, the presumed iWatch will be an inaugural leap for Apple as it begins hedging a spot within a growing industry of accessorized technology. Insiders list a payment component as one of the iWatch’s premiere features, catering to the needs of young consumers and their thirst for integrated mobile banking and payment solutions.

Most experts do not foresee the increased relevance of wearable payment options as the beginning of the end for mobile payments, but more so that products like the iWatch aim to streamline and expand the process mobile payments have already set in place. This will allow payment-enabled wearables to exist in tandem with mobile solutions.

People are making payments on their phones at a growing rate, but there are a few obvious drawbacks such as being distracted from more integral cellphone functionalities e.g. texting or surfing through social apps. What results is a prime opportunity for wearables to bridge the gap and offer a quicker, tighter system for on-the-go transactions.

It’s not too late for your business to hop abroad the mobile payment train. Even with product manufacturers churning out fashion-forward solutions to streamline the mobile processing revolution, it’s crucial that merchants are flexible in how they accept payments from technology driven consumers.

If you’re unsure where to look for a mobile payment processor that fits your business’s bottom-line, be sure to check out our review of Flagship Merchant Services, one of the largest servicing payment providers and one of our top choices for accepting mobile payments.

 

Posted on Friday, September 5th, 2014