Apple pay is part of the mobile banking sector which uses iPhone 6 and iPhone 6 plus. The services are offered through antenna. Apple pay ensures that the customer is able to access their bank account while at any corner of the world. Some of the services that the bank clients are able to access are the inquiries on the account balances, fund transfers, payment of bills (Nicoleti 91). In addition, plans are under way to include apple watches in the Progressive Savings Bank. It is recommendable for this specific bank to join in this technology and this will improve their service delivery.
There are some advantages that are involved with the use of apple pay over other payment methods. To start with, Apple pay reinforces the franchises card for the issuer. In addition, the company does not store the data related to the banker and there is reduction of fraud by the use of bank cards. However, the use of this form of payment also includes some disadvantages. To begin with, there are some additional charges on the user to the Apple Company. Secondly, it increases urgency of financial institutions when it comes to payments and it also incorporates a third party in a field that can already be said to be overcrowded.
