The sneaky psychology of Apple Pay and how it could cost you

Co.Design:

If Apple really cared about customer experience, why wouldn’t the company make the process of redeeming Apple Pay cash as simple as paying it? Apple would not comment on the matter, but talking to analysts and payment specialists, it seems certain that Apple Pay’s design doesn’t prioritize you. Apple Pay prioritizes itself and its partners.

It’s about keeping those consumer dollars within the entire Apple Pay merchant ecosystem. Apple claims that 50% of U.S. retailers will accept Apple Pay by the end of the year. And Apple wants to make sure that money is actually flowing through this pipeline.

Contrary to the headline and the writer’s assertion, it’s not the “sneaky psychology” of Apple Pay that could be a concern but the general nature of the way we think about money. Slamming Apple for our own failings isn’t at all fair. But, that having been said, it is interesting that, while Apple isn’t going to make much money by “holding” on to our Apple Pay dollars, they do stand to profit from our use of “fuzzy money”.