Apple Pay starts to look at the big buys

Así funciona la pantalla del Tesla Model 3, y resulta que tienes que tocarla para TODO

It’s no news that Apple Pay is appearing in more and more banks and stores, or on websites that integrate the service. What is less common is that they do so for payments as large and serious as those for an electric car. Tesla has started accepting Apple Pay for reservations of its Model 3 .

Apple Pay starts to look at the big buys
Apple Pay starts to look at the big buys

The Model 3 represents another step by Elon Musk towards a more affordable electric car. Its price of $35,000 may seem expensive to you, but it’s a big discount compared to the more than $100,000 that the Model S and X cost.

Pay for a car or something more expensive with Apple Pay

Model 3s have to be reserved, which can be done by a payment of $1,000 . Until now that initial payment could be made by credit card or PayPal, but now the option to do it with Apple Pay directly has appeared. However you do it, you won’t receive the car until after 12-18 months.

Putting aside the debate about how Tesla produces and sells its cars, I think this method is an interesting first step to simplify the sale of something as expensive as a car. It’s usually done through a large cash payment or credit financing, which brings in quite a bit of paperwork. But with Apple Pay, which can also be linked to a credit card, buying a car is simplified. Will we see this simplification in future purchases of large items?

Integration with credit companies

Another example of this is also the recent news of the integration of Affirm with Apple Pay . Affirm is a credit company, which lends you money that you pay back with interest every month for when you need to buy something urgently and you don’t have enough money for it. The difference between Affirm and any other credit company is that you do everything through the application, avoiding paperwork and phone calls with banks and companies.

Imagine you’re buying an iPhone X using Apple Pay at an Apple Retail Store. It costs 1320 euros, and you prefer to pay in installments. Instead of submitting bank documentation and going through a lender approval process (sometimes you have to wait a long time to be approved), you can do it all from your mobile phone and pay the amount Affirm lends you directly with Apple Pay .

It doesn’t take much to imagine paying for very expensive things like a flat entrance using something like that and Apple Pay. Ironic: the service was intended for small everyday purchases, but this news makes us think that Apple Pay can be used to acquire big items.

In Motorpasión

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