Bitcoin becomes Apple Pay's main competitor

     Over the past year, Apple Pay has been heralded as one of the most revolutionary forms of mobile payments. Despite extensive marketing and hype, and the fact that thousands of merchants around the world have chosen this payment tool, the platform still has its problems. In fact, most users are unsure if Apple Pay is a good option, as a dead phone battery can invalidate ongoing payments.

     Although Apple Pay has tried hard to prove itself as a good mobile payment tool, it has a long way to go to achieve this goal. The mobile payment field is highly competitive, and Apple Pay, Android Pay and Samsung Pay are only a small part of this industry. Now that consumers like to use mobile payments as a payment tool for cashless transactions, Apple Pay has emerged.

     For small companies, Apple Pay may be a good choice, depending on their customer base. The younger generation in particular seems to like using Apple Pay. And if more than half of a store's customers use this payment platform, it means that the hardware is worth the investment. In addition, many companies have announced plans to further develop the Apple Pay system.

In addition, more card issuers and banks are supporting Apple Pay every month. Since its launch, more than 400 financial institutions have established partnerships with Apple Pay. Apple Pay has had a very good start and its development seems to be on the right track, but there are still many obstacles and problems to overcome.

     Despite a strong start, Apple Pay usage is declining. Even daily Apple Pay users are using it less and less. In fact, many users say they rarely consider using it. It's not a serious problem right now, but it's not a good sign.

     Many big brands still stick with Apple Pay. Most well-known brands are developing or have already developed their mobile payment systems and are not keen to compete. When consumers have to remember which payment method to use in which situation, they usually choose to pay with traditional cash or credit cards. Penetrating the European market is also a particularly difficult task.

     Finally, it is important to note that Apple Pay users also need to consider the battery life of their mobile devices when making payments. Most consumers' mobile devices need to be charged at least once a day, which makes this payment method not very convenient to use. Although Apple Pay is not the only mobile payment method facing this problem, it is a problem that needs to be solved sooner or later.

     The mobile payment industry has many weaknesses and flaws, especially considering the battery issues of the devices. Bitcoin can also be used for mobile payments, but using it also requires consideration of battery storage capacity. However, one major difference between Apple Pay and Bitcoin payments is that the latter does not require additional infrastructure investment to use.

     It will be interesting to see how mobile payment systems develop over the next few years, and whether Bitcoin payments can play a significant role. Apple Pay still needs to gain market share around the world, while Bitcoin can be used as a global virtual currency without borders. One thing is certain, Apple Pay faces fierce competition, not only from similar payment methods, but also from virtual currencies.