Along with the rest of the world, Mubaloo has been eagerly awaiting the highly anticipated announcements made at the recent Apple event. Apple has delivered against all expectation. Aside from the excitement surrounding seeing the iPhone 6 and iPhone 6 Plus, Apple’s expansion into new areas of business has been nothing short of impressive.
With the impact that Apple Pay and the Apple Watch could have on both the payment and wearable markets respectively, these announcements are perhaps more significant for their long term strategic implications.
The Apple Watch will undoubtedly have a defining influence on the smartwatch category. Consumer interest and adoption is certainly set to be elevated now that Apple is in the market. Head of Technology at Mubaloo, Ben Reed said “Initially there were some reservations about the iPad when it was launched and no one can question the impact it has had on the mobile market. Apple’s influence should not be underestimated, we can expect that Apple will be responsible for popularising smartwatches.”
The design and UI of the Apple Watch have lived up to what you would expect. What the device looks like is important for consumer adoption and Apple have understood this and addressed it well. From a UI perspective navigation is seamless and will perhaps challenge some of the incumbent players in the market in this respect.
Watch will provide a great platform for app developers like Mubaloo to design apps and experiences for the Apple Watch and its seamless link with the iPhone. Mubaloo is confident that developing apps for the smartwatch will significantly help advance the category. For Mubaloo, the healthcare aspect will be particularly interesting, according to Ben Reed, with the work we are currently doing in the sector.
With the Watch due for launch in early 2015, this does give competitors in the market time to plan their response. The competition will be particularly fierce in their efforts to compete with Apple; especially given their current strength in the market, in comparison to the company that launched the iPod and iPhone.
Although with Apple Pay similar technologies have been in the market for a while, Apple’s effort should not be mistaken for a reinvention. Apple is all about the seamless user experience, and the importance this factor will play in making Apple Pay quick and easy to use, will be influential in defining its offering in the market.
The introduction of Pay will be welcomed by the consumer and enterprise market alike; not in the least part by the retail market. Any competition for Amazon will have the potential to change the landscape and none more so than Apple. What is more, consumer adoption of Apple Pay should be swift, due to its base of credit card users already using iOS.
By using NFC in its payment solution, Apple is again likely to breathe new life into the NFC space and encourage broader use of the technology. Although there are some in the market raising security concerns, following recent questions over iCloud’s vulnerabilities, Apple Pay could offer the market big improvements in payment security. If you lose your phone, suspending payment for that device will solve the issue without the hassle of cancelling cards and contacting your bank.
Pay could be a game changer and Apple Watch could do similar things for the smartwatch market. These are all exciting developments for the mobile market and coupled with plans for iOS 8, present a raft of opportunities.
Mubaloo is looking forward to the upgrade to the OS for the refinement, customisation and powerful new tools that iOS 8 will bring. Companies like Apple, Google and Samsung are constantly providing good reasons to develop apps and great technologies to support them; while Mubaloo and all mobile players brace ourselves for the opportunities these advancements present.