Mobile Payment: Issues and Challenges with Apple Pay Technology

Mobile Payment
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Table of Contents
Abstract.................................................................................................3
Introduction..........................................................................................4
Research questions............................................................................4
Purpose of this report.........................................................................4
Apple Pay.............................................................................................5
Apple Pay components.........................................................................6
Techniques............................................................................................6
Issue and challenges arise from Electronic payment............................8
Security Issue.....................................................................................9
Social issue arises due to lack of technology....................................9
Business issue..................................................................................10
Political issue arises due to presence of Apple Pay technology......10
Recommendation................................................................................11
Conclusion..........................................................................................11
References..........................................................................................12

Abstract
We are living in the 20th century, a new invention of science is
coming day by day, but it also comes with social, ethical and business
problems. New techniques like in Machinery, Biometrics, health
department and payment. These new methodologies come with a
negative effect. In these days we have a number of ways to do
payment in daily life one of them is Apple pay. The main objective of
this report is to observe the use of Apple pay. Few issues have
emerged about Apple pay technology. The security of the technology
and how consumers can use the technology. In this report, I will
discuss Apple pay technology; the components of the technology, the
issues that arises due to the usage of Apple pay technology. As will be
highlighted later in the chapter, Apple pay is an easier way to do
payment from a mobile phone because it comes with new emerging
technology which is NFC technology, touch ID. However, we are
facing problem due to the rapid growth of technology. The ethical
issue will be based on dependency and vulnerability, inequality as
well as privacy. This analysis will show which further steps required
to be taken to identify the problem and how to solve the problem that
particular issue.
Keywords
Electronic payments, Apple pay, Touch Id, social, political and
Financial issue

Mobile Payment
Introduction
Online payments make everyone life easier, anyone can use it
anywhere anytime to do online shopping. Due to the new invention of
science, smartphone became the first choice of people which provide
new functions like mobile payment through Apple pay Android pay.
So, Apple Pay is one of them secure method of payment because it
comes with new security techniques. Furthermore, through apply pay,
the receiver will not receive the customer bank information. So,
consumers feel safe to do payment via apple pay. Furthermore, people
can download the app from the apple store and connect through card
details with banks. They can use it anywhere. Moreover, they do not
need to worry about the loss or damage of card [1].NFC technology is
the root of apple pay, which allows the mobile phone to do payments.
It is a wireless technology which allows two terminals to
communicate with each other. According to Loup ventures about 252
million of iPhone users across the world use Apple Pay Technology.
Munster has highlighted that Apply Pay transactions in the next one
year will jump by 200 percent [2].
Research questions
 How does Apple technology work?
 How can one use Apple technology?
 How secure is the technology secure?
To answer these three questions three major areas will be
highlighted. An overview of Apple pay technology, its components
and issues that arises due to the usage of the technology.
Purpose of this report
In future, the traditional payment will be replaced by E payment or
Mobile payment. It is very vital to protect the payment or the personal
information. Its automatically save the digital receipt of shopping in-