Is it another toy for the affluent or a sign of things to come as paperless digital currency continues to move into the consumer market. Obviously, all people won’t have iPhones at the checkout, if only because smartphones are the technology of the affluent, not the rank and file.
And if you have to ponder that, consider that there are millions of people in the US who still can’t put food on the table for their families, let alone shell out $50 per month for a smartphone account to begin with. Whether the phone is an iPhone or not is probably irrelevant. So is the $300-400 a pop that “used” or stolen iPhones bring on the secondary market.
And those valued credit and debit card accounts that sit behind the Apple Pay terminal? 48% of American households use credit cards. That’s a pretty good indicator of the willingness of people to give up their wallets and purses and move to Apple Pay.
But if you are one of two who does use a credit card and then one of four who carries an iPhone, you can now Pay.
Thanks to Yahoo Finance