APPLE PAY AT WALGREENS - Research Paper Example

Conclusion Mobile payments is the new trend for today’s technology savvy consumer. Mobile phones have literally taken over our everyday life and turned out to be more of a must have gadget. Smartphones in particular have revolutionized the traditional way of doing business. It is now possible to book and pay flights, check in, book hotels, cancel reservations among many other functions all on one hand held device.Apple pay couldn’t have come at a better time. It comes at a time when the mobile phone is at the center of today’s tech savvy consumer.

While card payments are still widely used, the momentum is fast moving towards mobile payment due to their convenience and retailers are taking note.The Walgreen Company, the largest drug retailer in the United Stated is one among many companies which has implemented the latest payment solution in the world and the results are clear. Costanza (2015) notes that there has been an increase in sales for Walgreen. While this cannot be single handedly attributed to Apple pay, customer convenience and the ease of payment has greatly improved since its introduction.

Apple pay which is backed by the world’s most valuable technology was able to be rolled out at Walgreen Company with minimal cost and disruptions. As noted in the interview with company executive voyles, the ease of payment, security and speedy check-out has proved to be a major hit with customers. Apple pay is enabled by NFC and EMV technology and backed up by the three main card providers Visa, MasterCard and American Express.While highly successful so far, there have been challenges. For example two main retailers Walmart and BestBuy have rejected this payment system in favor of their own.

Reisinger (2014) also notes that there are other challenges such as a dead battery, losing your mobile phone as well as platforms which are not supported. Overall Apple pay has a positive impact on sales and customer experience at the Walgreen Company. While challenges and competition heat up mobile payments will in the future remain at the heart of today’s tech savvy consumer.