Bank of America Corp (BAC) Promotes Apple Inc. (AAPL)’s iPhone 6 In A New Ad For Apple Pay

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Apple Pay

Apple Pay

Apple Inc. (NASDAQ:AAPL)’s iPhone 6 is once again spotted in Bank of America Corp (NYSE:BAC)’s new Apple Pay commercial where the banking giant regards the service as the easy, smart and secure way of paying with a simple touch. The new promos by banks, card processors, and merchants continue to promote the iPhone 6, Apple and Apple Pay, while letting consumers know that their banks are on the forefront of digital payment technology. A win-win scenario for both parties.

“Life is better when we are connected,” is the tag line in Bank of America’s new spot regarding Apple Pay’s convenience and innovative connections. The spot also places the banking giant in league of JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc (NYSE:C), Mastercard Inc (NYSE:MA), Wells Fargo & Co (NYSE:WFC) and others, which also promote Apple Pay.

The heavyweights backing Apple Pay is a bonus of the strategy that weaved together card processors, banks, and merchants in a way that would get the giants to throw their weight behind Apple Pay. The relationship appears symbiotic just in the way the card processors and banks have worked over the years with joint commercials for items like Visa Check Cards, and more.

Apple Pay Promotions

Several agencies are promoting Apple Pay through a series of online, newspaper, television, billboard and email ads. Apple Inc. (NASDAQ:AAPL)’s NFC point of payment, Touch ID fingerprint-secured service is exclusively available for iPhone 6 and iPhone 6 Plus users and will be compatible with yet-to-be-launched Apple Watch.

The launch of Apple Watch will also allow iPhone 5, iPhone 5s and iPhone 5c users to pair their phone with the new device and make in payments using Apple Pay for their in-store purchases. Braintree, rival PayPal’s payment processing subsidiary, has also started voicing its support for handling Apple Pay transactions.

The Terrific Combination

The combo of iPhone 6, Apple Pay and Apple Watch has terrified competitors including PayPal, Samsung, and luxury watch maker LVMH. Apple Inc. (NASDAQ:AAPL) is also planning for widespread massive free inter-promotion once it sets up international partners.

Previously, PayPal also argued that Apple’s payment system was insecure and could risk the users, but later it went on to assure that Apple Pay will work with Braintree, a PayPal company. PayPal might have understood in a short while that such an attempt could backfire and have decided to swim with the flow.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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