Will you purchase Apple stuff you don’t need?

09-apple-tim-cook-pay

How Apple Pay Will Cause You to Buy More Useless Junk

They say a fool and his money are soon parted, and in the era of so-called frictionless electronic payments, we are all, potentially, fools. This week Apple announced Apple Pay, which will require nothing more of iPhone 6 users than a wave of their phones in order to commit to a purchase. On the one hand, it’s reportedly more secure than your credit card. But some behavioral scientists and consumer psychologists say that the ease of Apple Pay will introduce more thoughtless, impulsive spending. No one has yet studied how technology like Amazon’s One-Click method or the Uber app affect consumers’ purchasing behavior as compared to traditional payment methods like credit cards or cash. But past research into the transition from cash to credit cards suggests that not only do consumers spend more impulsively when paying is easy, but that they are also willing to pay more. …[READ]

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