The familiar credit cards are complemented with new methods of cashless payment in the Internet. Apple Pay, which will soon become available in many online stores, confidently entering the global payment arena. According to observers PayOnline, the tool will significantly change the behavior and habits of today’s consumers.
Caution for users who are in a state of intoxication like like online shopping: now soon impulsive impulsive purchases will be even easier. With the launch of the technology Apple Pay to pay online is enough to touch the finger to the biometric module on the iPhone or MacBook – no more searching for credit cards and attempts to correctly fill in payment form.
On the one hand, this method of payment much faster and more convenient than a credit card. In addition, it gives banks and shops new possibilities for processing payments. However, recent studies show that Apple Pay is invading the subconscious of consumers and affects the decision-making process about the purchase.
“From the point of view of rationality of the difference in consumer behavior, regardless of whether you pay with Touch ID or a Bank card, should not be”, – says Sachin bunker, a researcher of consumers at the University of Utah. But behaviorists (researchers studying the behavior of people) believe that the method of payment significantly affects what and how often people are buying and how many are willing to pay for it. And while the statistics for online shopping is not so much the experts make far-reaching forecasts.
According to Drazen Preluca, neuroeconomist from the School of Management named Sloan Massachusetts Institute of Technology (MIT), payment in cash in most people causes “psychological pain”. The expert put forward a special term meaning discomfort when shopping money. At the same time electronic payments with a Bank card associate people with air miles, kasbekar and other pleasant bonuses.
“In credit cards is something schizophrenic. On the one hand, people feel much better when you pay for purchases using credit cards, but the disappointment comes with the moment of repayment of debt on the map. Credit cards are literally “shut off” your mental accounting. And that’s what people really like – to have the opportunity to defer the realization of parting with money and get pleasure from buying,” says the researcher.
Apple Pay can be tied to credit and debit card, so consumer behavior can be dictated by what method they are using. But the impact of digital payment technologies greater than what Bank account they are connected, I’m sure Tom Noyes, a former CEO of Citibank and Wells Fargo. He believes that the consequences of the introduction of Touch ID in online purchases will be significant: this is not just a new way of making payments, it changes the very essence of the transaction.
If you put your finger on the sensor or touch the fingerprint scanner, digital payments will bring a significant contribution both in physical and emotional sensations of users. Experience in the use of mobile devices more personalized than the experience in the case of plastic cards attached to this device. And the feelings experienced by a person using your mobile device, can affect how people will treat payment technology in it.
Recently, MIT launched a program that turned a University ID badge Preluca a ticket to Boston. “It changed my behavior, I began to use public transport more often,’ he says. – I think the reason is not only that it saves my money – to use ID still comfortable.”
Clearly, banks believe that consumers will like to pay “one-touch”, and they will do it more often. If people would tie their issued Bank credit cards to Apple Pay as a payment tool by default, using them more often and increasing your bills on the loan, financial institutions would benefit.
All new payment technologies smart and comfortable, but they will increase their dependence on banks. Prelez offers to link your account with Apple to debit card. “In the end, the payment methods change over time under the influence of how they serve long-term financial goals of the users and make them better – or worse – in a much broader sense,” he says. And before that, to make the purchase intoxicated is to solve the consumers themselves.