Monday, May 27, 2024

Has Apple Pay Made It Too Easy To Spend Money


Jeff Chiu/AP

Apple released iOS 17 on September 18 and now that the new operating system is here, you can probably leave your wallet at home. The latest version of iOS expands what you can do with Apple Wallet, including how you pay for stuff and how you can use your iPhone to show your government ID, bringing the physical wallet closer to being obsolete. It also marks a step forward in Apple’s steady march toward becoming a sort of bank.

Now, the company offers the Apple Card, a high-interest savings account, and interest-free buy now, pay later loans with Apple Pay Later, which launched earlier this year. This was almost a decade after the initial rollout of Apple Pay, which offered iPhone, iPad, and Apple Watch users the ability to buy things in stores by tapping their devices to a reader. With the latest update, Apple is continuing to make it clear that your smartphone isn’t just for calls, texts, and snapping a quick pic of dinner

It can handle everything related to your finances, too. But it’s one thing for your phone to make video calls a piece of cake, and another for it to make spending money so easy. When Apple Pay launched in 2014, one big criticism was that it tried to solve a nonexistent problem. Credit cards were already easy to use. Who really needed a tap-to-pay feature?………Continue reading….

Source: iOS 17 update: What are the downsides of using Apple Pay? – Vox

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