1. What is unique about Apple Pay compared to other traditional means of consumer payment? Checking out is as easy as selecting Apple Pay and placing your finger on Touch ID. All you would literally have do is hold your iPhone near the contactless reader with our finger on the touch ID. It will emit a subtle vibration or beep. It’s key difference as stated in this article is the safety of each transaction. (“Our customers are saying it’s safer,” said Brittany Salcedo, night manager at Canyon Market in Springdale, Utah, near Zion National Park.) Apple pay will reduce credit card related theft. This will result in fewer people losing credit cards or having them stolen because they are connected to your phone. 2. How different might the retail shopping and consumer transaction experience become if Apple Pay becomes pervasive? The service reduced the average checkout time to 17 seconds, from 103 seconds. A big reason Apple Pay is taking off is it reduces friction between the customer and the cashier and the customer and other customers. There's no digging for a credit card or money. No having to try different PINs. Forget having the clerk look at the security code on your credit card. The shopper, whether you or the other guy, moves along quickly. The amount of time saved per transaction adds up to hours over the day for the merchant. 3. What data about consumer behavior will Apple be able to acquire through Apple pay? What value could these data have? Apple Pay wants to convert your mobile device into a digital wallet. Millions of customers have used credit and debit cards for years and will continue to do so. With Apple Pay being so young the consumer behavior could be huge. First off, when and if people start using it more frequently you can start to see more of a market for the product in which you can switch your focus to more. For example, if 40% of 18-25 year olds use it compared to 20% of 30-40year olds then they can foc