Photo: syne.com
Apple Pay is one of the world's most flexible and cutting-edge payment systems. The original concept of Apple Pay was simple: to reduce the need for today's consumer to walk around with a wallet stuffed full of cash and cards, and instead, buy goods or services with the swipe of a phone or the tap of a watch.
It means that all of your credit and debit cards can be consolidated into one easy-to-use system, allowing you to choose a payment method and make a transaction without breaking a sweat - and when you think about it, that kind of consumer mentality mirrors they way in which we like to enjoy our visual entertainment in today's world.
Apple sees great potential beyond mobile apps
In the US market, Apple TV takes around 20% of the overall streaming television market share while Chromecast is still ahead at 35% - which is healthy, to say the least (data by Strategy Analytics).
On the other hand, the European context is a pretty different. Apple TV holds a great position by leading Roku and Chromecast comfortably (according to Dataxis).
Many IOS fans have praised the service, saying that its slick, flexible and easy to use, and it seems to be on the up. People have complained about the lack of content Apple TV provides access to; however, improvements are being made.
To help drive them towards a healthy future in the video streaming market, Apple is not only adding an auto-renewable subscription service via in-app purchases which will, in turn, preserve annual fees for existing customers, but the company is also going to offer a broader range of subscription options. Moreover, Apple will be introducing Apple Pay across a variety of desktop websites.
What this means is there will be a clearer split between the use of iTunes and Apple Pay as a subscription payment method; these changes will also make paying for video services simpler and more intuitive, especially if making a purchase through Apple’s fingerprint sensor technology.
Is “Universal Purchase” a step forward towards streaming video?
Taking their payment based technology that one step further, Apple is also going to launch something called 'Universal Purchase.' This new development is expected to provide a seamless and inclusive download experience for those using the iPhone, iPad, iPod touch and the new Apple TV service (fourth generation onwards). This also means that if an Apple users have purchased an app marked for a 'Universal Purchase' category, the user only needs to make one purchase to play content across multiple platforms.
So, do Apple Pay and premium video content make the perfect match? At this point, it's hard to say for certain, but one thing’s for sure: these new developments are certainly in tune with today's fast-moving, tech-savvy, content-hungry consumer, meaning that Apple Pay could well be the future of the video streaming universe.
Big changes are afoot, and Apple Pay certainly fits into the mix, but I suppose this all raises another burning question? What will the likes of Google do to keep up with competition?
Only time will tell.
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