Apple (NASDAQ:APPL) Pay is gaining momentum, with consumers opting for the new easy payment technique that makes life easier. This new found fame that the application seems to be enjoying is due to its effective use of the NFC technologies that give users the option of using alternative methods of payment as per their preference and convenience. This has added to the number of users who want to try Apple (NASDAQ:APPL) Pay, and has put significant pressure on competitors to do better.

Apple (NASDAQ:APPL) Pay is expected to cause a decline to the credit card usage. According to the latest New York Times reports, the emerging usage figures reveal trends of consumers opting for this payment method and drifting away from the credit or debit card users. Prior to Apple (NASDAQ:APPL) Pay, Google (NASDAQ:GOOGL) and Softcard tried to launch similar app, but they couldn’t draw the effect that Apple (NASDAQ:APPL) Pay has succeeded to put in to effect.

According to the data released by Whole Foods (NASDAQ:WFM), the grocery chain has processed OVER 150,000 Apple (NASDAQ:APPL) Pay applications. In addition to this, McDonalds (NYSE:MCD) seems to have joined ranks of companies using the new Apple (NASDAQ:APPL) application. An impressive 50% of the customer transactions are being processed with Apple (NASDAQ:APPL) Pay. Similar trends have been reported by Walgreens. Similarly, Toys R Us reported increase in mobile payment methods, but nothing dramatic has been observed as people are still trying to familiarise themselves with the technology.

Analysts are of the view that Apple (NASDAQ:APPL) Pay will grind its niche in the market and will have a strong competitive edge against other entrants into the market, unless some other company is able to bring in something more dynamic and useful. Apple (NASDAQ:APPL) has also helped NFC Technology to initiate into more business ventures.

A lot of the hype this app has drawn is due to the brand power Apple (NASDAQ:APPL) exerts. In addition to this, consumers find methods that save time and effort a lot more enticing than complicated, time consuming methods. That is the reason customers and retailers alike prefer the switch to mobile payment methods. Apple (NASDAQ:APPL) Pay has not done something revolutionary; it does, however, encouraged fast mobile payment method market.

According to the Softcard CEO, Micheal Abbott, since the launch of Apple (NASDAQ:APPL) Pay, there has been an increased percentage in the Softcard app download. Consumers, who downloaded the app but never used it, have now started to bring it in use.

Even the traditional Apple (NASDAQ:APPL) rival, Google (NASDAQ:GOOGL) has revealed that there has been an increase in its Wallett app download and usage by the existing members.

With the new Apple (NASDAQ:APPL) Pay, the transaction methods will become stress free and easier, and there will be shorter wait time at the payment tills, where a simple mobile swipe does the magic. In addition to this, the whole shopping experience has become stress free for users as they don’t have to worry about their cash or cards getting stolen.

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