The future of commerce is so close

A couple of months ago Apple Pay was finally enabled for my bank account and credit card, which meant I was finally able to pay for things by either placing my phone on the card reader, or by bashing my watch against it instead.

I look forward to a day when I can leave the house with nothing in my pockets – my watch will have a cellular radio and be capable of keeping me in contact with the people that matter, so too will it allow me to unlock my car/house, in addition to letting me pay for things. While the first two in that list might be a few years away (decades at the rate I upgrade cars), my watch can actually make payments today, how cool is that?

The reality is somewhat less cool. The problem is the payment limit. Since Apple Pay uses the existing 'Contactless' payment systems, it's also hampered by the same £20 limit. While this limit makes sense with a contactless debit card (there is zero authentication), both the Apple Watch and iPhone are secure; the iPhone asks for your fingerprint, and the watch asks for a PIN when you first put it on, as long as it says in contact with your wrist it is authorised for Apple Pay.

This authentication is also a hindrance – why would I fiddle about trying to get my phone to detect my fingerprint (while everyone in the queue is staring at me) or roll three layers of sleeve up to try and get my watch to be recognised when I can whip out my wallet and tap my debit card? The key point is that I still have to have my wallet on me in case the shop in question doesn't support contactless, or the amount comes to over £20. Don't get me wrong, Apple Pay is much better than entering a PIN, it's just not as fast as tapping your card.

So what needs to happen? I'd like to see the limit raise for Apple Pay purchases to something more reasonable, most cash machines allow you to take out £300 in a day, so why not the same for an arguably more secure system such as Apple Pay, while keeping existing contactless limits where they are of course