Apple Pay makes wallet obsolete

Image courtesy: Apple Inc

In it's signature company event, Apple announced that Apple pay is available. This contactless payment technology will be available in the newer model of iPhone 6. You can now forget your wallet home.

The benefits that Apple promises are:
1. Ease of use. Storing the cards is supposed to be a snap. Just point your camera at the card and it's stored in the passbook. In the brick and mortar stores, you just have to swipe your phone to pay. No need to open an app or even wake your display thanks to the innovative Near Field Communication antenna in iPhone 6.

Image courtesy: Forbes

2. Leave your wallet home. This is great for customers who are always in a rush - which is most of us. I have to remember to grab my phone, car keys and wallet. Isn't it great if we have one less thing to remember? Apple claims that you don't need to carry your wallet full of credit cards and IDs. These will be stored in Apple passbook.

3. Security. Apple stores the cards into the secure chips on the device. The CC numbers are never shared with Apple or the merchants. The passbook data on the lost devices can easily be wiped remotely.

No doubt, customers and merchants will need time to adapt to this technology. I, for one, am pretty excited to see how this game changing payment technology unfolds in the coming years. 

Am I an Engineer?

I am tempted to say yes because:

• I have an engineering degree
• I have been working in the Hi-tech industry for over a decade. In this industry the ability to be hands-on is extremely beneficial. In short, I can be a techie when required.

However, I am cautious because:

• When a person from (or familiar with) Hi-tech industry asks this question, then I answer yes and hoping that they'd undestand, follow it up by explaining some of the different hats I wear occasionally.
• When people from outside hi-tech industry ask this question, what they really mean to ask is whether I manage people/project or not. What is hard to explain to this group is that even engineers can be managers or directors or even CEOs. Also hard to explain is the fact that not every engineer is the same. There are so many different fields within engineering. To save everyone time and misery, I just answer "Yes, I am an engieer".
• When people with limited education ask this question, what they really want to know is whether I can fix their smartphone, TV, fridge or car. I answer "I write software programs which run on computers". That's a smart answer or so I think. Moments later, I realize only thing they hear is "computers". So they ask me with a triumphant expression -- "Ah! My computer's monitor is broken, can you fix it?". When I explain that I just write software and can't fix monitors etc -- their expression is you should have gone to a better school/college and pursued real engineering. I can never win this one.

So, my answer is never the same. It depends on who asks it.

Importance of Brand Ambassadors

I remember a story from my middle school. The story was about a native Japanese who chances upon an English couple, visiting Japan, on streets. The native is headed to work. The couples main goal is to experience the real Japan, but are feeling miserable as they are unable to. The couple's problem is that they don't know any Japanese. This native, who knows English well, offers to help and calls his office to take a day off. He then takes the couple around the most wonderful and authentic places. The couple left the country extremely happy. When asked why this native helped the couple he says that he is acting as a brand ambassador for Japan and doesn't want the couple to leave Japan feeling miserable. Now that's how important the brand ambassador is.

I visited the AdTech tradeshow in San Francisco two weeks back. All the company reps in the exhibit hall were acting (atleast trying to) like brand ambassadors. I ran into one particular rep who was sort of arrogant and was trying to brush me off. I am not sure why he was acting that way. He may have had an appointment, but it's not that hard to say "Excuse me. I have a scheduled appointment. I'll be happy to answer your questions. Here's my card". Obviously, the guy wasn't the best brand ambassador.

Hi-Tech companies are often tempted to send their best engineers to represent them because they feel that smart engineers can answer all the technical questions. That, in my opinion, is not at all a smart strategy. Companies need to carefully select people who can best represent their companies at such events. The most important objective of a brand ambassador is to make a positive impact on the potential customers or partners. Questions can be answered later.

Do you think I'll ever do business with that company or even recommend it to anyone?

April fool's day pranks

I ran into a few hoaxes yesterday - the April fool's day. A good one was from the economist Greg Mankiw about the an auction at Harvard for slots in classes . I was curious on what kind of pranks or hoaxes get more attention. Google search gave a few interesting results. The best site is here which lists the top 100 hoaxes of all time. I really like the instant color tv hoax. Have fun.

Effects of Luxury Goods

An interesting article talks about the effects. Be careful when I have all my luxury brand goodies around :-)