Apple Apple Pay will be officially launched today, and it is widely believed that Apple's mobile payment platform will bring a new revolution to the immature payment field. However, this idea faces no small challenge, because whether a smartphone can truly replace a credit card as the largest terminal for users to solve mobile payments is still an unpredictable problem. At the same time, considering that multiple interests will be involved, Apple Pay still needs to eliminate a lot of troubles if it wants to really promote its popularity. However, one of the latest news reports seems to have brought good news to the development of Apple Pay.
According to foreign media phonearena reports, US President Barack Obama signed an executive order last Friday that will prompt the US government to use the POS system more quickly. This means that the POS system will become the official payment side, and Apple's mission will shift to how to maximize and promote mobile payments.
As early as two years ago, credit card companies were actively working to move to the EMV system in October 2015. EMV and NFC basically appeared in the POS system at the same time, which means that all companies using POS terminal equipment will use both. system. Based on this situation, many companies are also actively encouraged to change in this direction, because after October 2015, if retailers still do not use EMV systems, they will be responsible for fraud, not to blame credit card company. However, the decree signed by Obama recently is the catalyst for accelerating this transformation.
According to the understanding, the decree is called "Improving the Security of Consumer Financial Transactions" (improving the security of consumer financial transactions). The decree has no effect on retailers, but it can prompt various government agencies to switch to the EMV system early next year (some institutions will need to be completed in January and some will be completed in March). This move by the US government is expected to prompt retailers to make changes faster. If this is the case, mobile payment platforms like Apple Pay will be more popular than expected.
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