On Monday, Apple unveiled its Apple Card, the company's boldest move, evolving into a true mainstream mobile payments provider. And the product has far-reaching implications for our future of augmented reality, some of which may not be immediately obvious.
Let's start with a little background. Apple Pay has been around for some time and has managed to catch a large number of users, but it's still not as ubiquitous as you'd expect from an iPhone maker. The Apple card can change that.
No matter how many new technologies there are, humans are still largely habitual animals. So if you want to reach the masses, it helps to give them something familiar. That's why so many AR enthusiasts rely on AR Smart eyewear because they know that AR eyewear is much easier to sell to mainstream users than AR via an iPhone or a "mixed reality" helmet. Similarly, the mere introduction of Apple's familiarity with shape and dynamics will likely give Apple the mainstream payment exposure it has been working on for years.
A new kind of credit card. Created by Apple, not by a bank. & # 39; Translation: Banks are bad.
Although the promotional video (at the bottom of this page) spends most of its time using the card over Apple iPhone for Apple Pay, it is when the video reveals the credit card etched with the titanium that Apple's plans are still from a marketing standpoint become more obvious and attractive.
In short, the company wants to replace your bank. This intent is even set forth on the Apple website, where the company says, "A new kind of credit card created by Apple, not a bank."
"No bank." Translation: We want you to give up your bank.
But what exactly do you mean by that? For anyone who tracks the news, it's obvious – Apple sells trust and privacy. With the proliferation of privacy and data scandals plaguing both banks and competing tech companies in recent years, users are increasingly looking for an option that is both convenient and trustworthy. Banks have long ceased to be practical, and the idea that your data is safe in the slow-moving traditional banking practices is optimistic at best.
Therefore, Apple's hard-earned reputation as the user's guardian of trust and confidentiality (Apple boss Tim Cook put almost everything against the FBI's call to break into a user's phone) is now being literally redeemed.
What does all this have to do with AR? Everything. Apple glasses are coming. With this in mind, let's look at the company's approach to Apple's first wearable, the Apple Watch, which Apple has quickly integrated into the Apple Pay ecosystem.
Apple Pay over the Apple Watch is pretty fancy, but how many times have you seen someone shop with the Apple Watch? Despite the comfort dynamics, it is relatively rare to see such a landmark in your local corner shop. Embedding the power of Apple Pay into a pair of fashionable Apple AR glasses, also known as Apple Glasses, could be immediately more seamless than using an Apple Watch to pay.
Of course, the "Tap to Pay" option would not work. But what if you paid for something at the store as if it was so easy to look at? Or look at it and tap the side of your glasses? It's a kind of physical interaction that Apple has already familiarized itself with on the iPhone X – look at your phone to pay for or approve an app through Face ID. Keep in mind that the tagline that Apple recently used in an Apple Pay commercial was "pay at a glance" (see video above). It is unclear how the face ID dynamics could move from a technological and logistical point of view to glasses, but these words are nonetheless an indication of the future.
In this regard, Apple's introduction of a physical credit card is neither innovative nor particularly simple. If you're interested in the free app-centric usability of the new Apple Card, you're probably already using Square's Square card. However, there are two things that make Apple better than Square and most banks: trust in mobile payments, customer service (love you, Square, but it's true), and hardware for end users. To be honest, Square has gained a lot of confidence, but it's nothing to do with the trust of consumers that Apple has entrusted to protect the many secrets that are on their smartphones.
With the introduction of an Apple card, Apple essentially markets its mobile payment service and its ability to faithfully keep your money while keeping your privacy intact.
By contrast, many banks today are able to leverage their account activity and gather information about where they normally go shopping, what bills they usually pay, and what their weekly expenses are. And these are not even shady affairs, everything happens outdoors.
For example, if you use the Citibank mobile app, your shopping habits are conveniently (but not scary) listed each month, even if you do not want them to be tracked. For a not inconsiderable number of Apple customers, trusting Apple's confidential information would be far better than trusting a bank.
Of course we still do not know how the relationship with Apple will work with its partners MasterCard and Goldman Sachs, but even without any details, Apple has gained a lot of trust in its users.
It is such a trust that is crucial when many of us run around with others brands of AR smart glasses that may record our location or not, which we like to look at – a concern in VR the Recently was contacted by the founder of Oculus, a company that works with AR Smartglasses – and, most importantly, what are our spending habits. If the combination of 5G and AR cloud technology becomes the core element of our mobile experience – which is expected within 24 months at the latest – the most important selling tool will be trust and good technology.
Apple prepares the public to buy into this trust through direct bank borrowing.
Would you count on Facebook to put a camera on your face all day long (without claiming access to the camera data) while quietly tracking your purchases in the background? What about your favorite bank? If the answer to any of these questions is yes, I would suggest reading a little more .
And even if Apple is not perfect and is likely to have significant data protection stumbling over Apple Pay and Apple Card. At some point, Apple seems to be taking the lead among the available options associated with trusting mobile payments at this point to have.
Consider these issues as you begin buying AR Smart Glasses over the next 24 months, as privacy and trust in the AR Cloud will be far more important than almost any other feature you'll encounter. And for any business that can not be supported by Apple AR, you now have your mission: focus on trust.