Since full details of the Apple Watch were released on Monday, there has been much news and discussion over the various features offered. One feature which piqued our interest (aside from this analysis of the battery life depending on different usage requirements) was the Watch's ability to make payments using NFC technology.
This article from TechRadar makes some interesting points as they interview Ralf Gladis, CEO and co-founder of Computop, a global payment service provider. Gladis proposes that the Apple Watch will push retailers to make the leap and invest in NFC enabled POS terminals; the idea behind this is that since the Watch is ready and waiting on a person's wrist, customers are now more likely to use NFC to pay whereas before they had to fumble around with phones or cards.
The article goes into detail on exactly how the payments work, and also attempt to quash some fears associated with Apple Pay and security concerns. As Gladis concludes, he confidently states, "In short: the devices are safe. Current fraud issues are caused by weak authentication and enrolment procedures at the issuing banks."
Do take a look at the full article if you're interested in understanding more about how the Apple Watch works in regards to payments.