*Short version. A longer detailed article exists for Premium Members*
A decade of Apple Pay already?! It’s quite striking to see how a technology that was once shrugged off as a passing tech trend has ignited a full-scale payments revolution.
I remember quite well the early days of Apple Pay, as its launch coincided with my time at PayPal. At that time, mobile payments were still fairly new in the UK/Europe, and PayPal was a leading #APM for online transactions. In-Apps payments and mobile optimised checkouts were just starting to gain attention, and a lot of the industry focus was still predominantly on ecommerce.
Initially, the Apple Pay approach, i.e. being limited to Apple devices, seemed like it would only serve a niche audience. But it introduced something game-changing: the combined use of device-specific tokenisation and biometric authentication. In doing so, Apple Pay set a new standard for security and seamless transactions.
The world of payments pre-Apple Pay was very different:
◾Cards were physical by default, i.e. swiped, inserted for chip and pin, or occasionally tapped at payment terminals.
◾In the context of mobile payments, the term “mobile wallet” was nearly synonymous with only one player: PayPal.
◾Mobile Point-of-Sale was just starting with devices like Square, iZettle or Paypal Here emerging to help small businesses accept card payments. These #mpos were designed to offer convenience and mobility for those who previously faced barriers to card acceptance.
◾ NFC was still relatively underutilised for payments and it wasn’t until 2018, that Visa and Mastercard mandated for all new POS terminals in Europe to be contactless-capable. According to Juniper Research, the value of contactless payment transactions will grow by 113% over the next five years.
◾QR Codes were struggling to drive innovation in payment (i.e. in the west). In fact, QR codes were mostly associated with scanning for promotions or links, but not with paying at a restaurant or a store… although some early attempts to innovation started around that time too.
The Apple ecosystem has undeniably sparked a wave of innovation, pushing the industry towards a future where seamless, secure, and flexible payments are the expected norm. This unique blend of front-end simplicity and back-end complexity is exactly what makes the payments space so dynamic and exciting.
👉🏽#Paymentexperts, any perspectives to share on #applepay or the payment evolution in the last 10 years🎤?
—
𝑾𝒐𝒏𝒅𝒆𝒓 𝒘𝒉𝒐 𝒘𝒆 𝒂𝒓𝒆?
𝘞𝘦 𝘢𝘳𝘦 𝘢 𝘵𝘦𝘢𝘮 𝘰𝘧 𝘗𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘴𝘵𝘴 𝘣𝘭𝘦𝘯𝘥𝘪𝘯𝘨 𝘰𝘶𝘳 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘦𝘹𝘱𝘦𝘳𝘵𝘪𝘴𝘦 𝘸𝘪𝘵𝘩 𝘢 𝘤𝘳𝘦𝘢𝘵𝘪𝘷𝘦 𝘢𝘱𝘱𝘳𝘰𝘢𝘤𝘩 𝘵𝘰 𝘢𝘴𝘴𝘪𝘴𝘵 𝘰𝘶𝘳 𝘤𝘭𝘪𝘦𝘯𝘵𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘊𝘰𝘯𝘴𝘶𝘭𝘵𝘪𝘯𝘨, 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘺, 𝘙𝘦𝘴𝘦𝘢𝘳𝘤𝘩 𝘢𝘯𝘥 𝘛𝘩𝘰𝘶𝘨𝘩𝘵 𝘓𝘦𝘢𝘥𝘦𝘳𝘴𝘩𝘪𝘱 𝘱𝘳𝘰𝘫𝘦𝘤𝘵𝘴.
⏭ Follow Paypr.work [ˈpeɪpəwəːk]
⏭ Visit https://www.paypr.work/
⏭ Sign up to learn more: https://lnkd.in/dVXjGkzB
#paymentinfographics
#payprwork
— Paypr.work Disclaimer – The views and opinions expressed in this article are those of the Paypr.work author, writer or researcher and do not necessarily reflect the official policy or position of Paypr.work as a company. The visuals included are simplified representations meant for personal learning and should not be construed as official guidance or endorsement. They are not intended as promotional material unless explicitly stated otherwise. Please use this content for informational purposes only, should you require consultation or wish to use our material for purposes beyond personal learning, please get in touch with us directly at members@paypr.work.
Paypr.work blends payment knowledge and custom research into a simplified yet insightful narration. Our narratives feature visually engaging designs that break down both fundamental and complex payment jargons into bite-sized, repetitive micro-concepts to promote better comprehension and retention.
Sign up for a Paypr.work Premium Membership to exclusively access all of our payment resources, including our full articles, industry insights, ecosystem maps, reports, videos, and our unique library of bespoke infographics.
Don’t miss out— sign up to learn payments in a captivating way!
You have provided so much light and knowledge in a fascinating world. You definitely bring the fun to Fintech like no one else and actually know what you are talking about! Thanks goodness for you😁!
Vice President Global Product Expansion, Shift4
Impressive, congratulations Sandra and Team Paypr.work. The detail in each of your 100+ infographics is outstanding and showcases your expertise well… Continued success for this remarkable work!
LinkedIn Strategist | Digital Transformation Leader
Host of Heads Talk
Your diagrams have the ability to explain the most complicated of topics in way that can be understood by anyone. Not many people have the ability to create self-explanatory visuals, so keep doing your magic 🔥🔥🔥!
CEO & Co Founder of CLOWD9
Your content is so informative, accurate, and fabulously presented in infographics that always attract great attention. Your visuals naturally spark strong engagement regardless of the LinkedIn algorithms !
B2B Marketing, Marqeta
The depth of Paypr.work knowledge and skill sets are truly impressive. Their ability to combine deep industry expertise with well-depicted visual is pretty unique. I strongly recommend Sandra and Paypr.work !
Director EMEA Payment Solutions, Marriott International
👏👏 👏👏 👏👏 I always love your content and in fact, I am so happy for all of us in the industry… we’re lucky to have you sharing your payment wisdom with us 🤓… thank you! Keep up the great work.
Strategic Accounts Director, Truelayer | Payments and Fintech Geek
Merci Sandra pour ta facilité à vulgariser le paiement via de simples dessins, qui me surprendront toujours. Pour ceux qui ne connaissent pas son travail, je vous invite à suivre Paypr.work [ˈpeɪpəwəːk]!
Product Manager Paiement, Maisons du Monde
Your enthusiasm and ability to simplify Payments is so refreshing and literally shines through! Sandra and her team research, write content and create some stunning infographics for the payments industry….
Chief Operations Officer, Clowd9
Keep up the good work and know that your hard work and dedication is so inspiring for all of us. You are truly doing an incredible job and your consistent efforts don’t go unnoticed.
Chief Community Officer, NORBr | Redefining Payment Infrastructure | Linkedin Top Voice
Your Paypr.work subscription gets you full access to all Paypr.work content in 1 place including: our weekly new payments articles, our infographic blog, exclusive discounts on all the services that Paypr.work has to offer and the opportunity to collaborate on free infographic to promote your knowledge/value proposition and more. The content is for personal use and cannot be copied, reproduced, redistributed, altered, modified, shared publicly or with third-party nor can derivatives of the work be created. The user may share content that is available through the free blog access subject to crediting Paypr.work with the attributions.
