The value of Apple Pay is much more than saving you a reach for your credit card. Far more important is Apple Pay’s role in battling fraud, keeping your credit card number out of the top level of the transaction.
And Gates thinks that Apple’s strategic involvement is what will make payment systems like Apple Pay — a wallet that’s not your wallet — widely popular:
“All the platforms, whether it’s Apple’s or Google’s or Microsoft, you’ll see this payment capability get built in. That’s built on industry standard protocols, NFC. And these companies have all participated in getting those going. Apple will help make sure it gets to critical mass for all the devices.”
I knew I liked Apple Pay for the convenience factor. The convenience is just the icing on the cake, though. More of us will benefit from the security features. ∞