Apple is revolutionizing the mobile payment business. And that has investors in PayPal parent eBay nervous. But is the sell-off an overreaction?
I think some kind of Apple Pay incorporation into PayPal is inevitable as is Google Wallet and other digital wallet services currently on the market. Seeing digital wallet selection alongside traditional credit card options makes sense in this world of increasing digital theft.
I doubt Apple Pay will hurt PayPal in the long run, especially since it is not available to the Android market. Instead, the likelihood is that they will co-exist in the growing marketplace for digital transactions.
What impact will Apple Pay have in the long run? Only time will tell.
The reason may not be as rational as you might assume.
According to Merriam-webster.com:
DID YOU KNOW?
If you find yourself tempted to spell today’s word “firey,” you’re relying on sound logic. “Fiery” was formed by combining the word “fire” and the “-y” suffix, so it is reasonable to expect that the result would be spelled “firey.” At the time that the adjective was coined in the 13th century, however, the spelling of the noun had not yet become standardized. One alternate spelling was “fier.” Presumably, it was this spelling that eventually led to English speakers settling on “fiery,” even as the lone surviving spelling of the noun turned out to be “fire.”