Big Oil will support Apple Pay
Chevron tweeted the other day that they’re beginning incorporating Apple pay into their available payment options. This will be a monumental transition in the way we do business in America. Currently we consume more than any other country in the world meaning that we will set an unprecedented record of conversions in terms of sales through mobile devices. Speculating on the recent Sony hacks, the repercussions are worrisome in fear of a potential Apple leak/hack. Who is to say that one is not already under way?
Chevron and Texaco oil were two of the biggest proponents of Apple Pay when it was announced. Though it remains unclear what the potential lasting benefits of the relationship are, speculators believe that it will create a larger field of view and analytics for oil companies which currently have difficulty gathering business intelligence on their clients. Having access to such analytic could help those in charge of franchising and opening new locations to develop areas that require greater support or have more suitable buying habits to the way that business is done. In other words, the implications are staggering and could guarantee a competitive edge to whoever is able to upgrade the soonest.
Apple Pay is still in its infancy, but early numbers suggest Apple’s payments service has the potential to be the first widely adopted mobile payments option. During the month of November, Apple was responsible for 1 percent of digital payment dollars, with 60 percent of Apple Pay customers using the service on multiple days throughout the month. Apple Pay is only in the United States at the time being, but Apple has plans to expand to multiple other countries in 2015.
Update 2:00 PM PT: Chevron has clarified that a potential timeline for the rollout of Apple Pay at the pump remains unclear, with no official early 2015 launch planned. The company also plans to continue to roll out in-store Apple Pay support to 3,000 stores in 2015.