Financial Guy Gives Watch a High Five


By Eric Broughton
Financial Analyst

11260843_664290305518_999660991375455639_nI’ve always been an iPhone® owner and favored Apple® over all other gadget companies. So, needless to say, when I heard INB was going to be one of the first banks to get Apple Pay®, I was excited for the added feature. With the addition of Apple Pay®, INB also made an upgrade to its mobile app by adding the Apple Watch® app to its digital bank products. A few of us around the bank started wearing and testing the Apple Watch and used Apple Pay at many local stores to get more familiar with the device. Here’s my review of the Apple Watch including how the INB mobile app benefited from the upgrade.

Not Intended to Replace Phone

The Apple Watch is not intended to replace your phone yet; but it is intended to compliment it. It takes all the incoming notifications, texts, calls, and alerts, and gives you a short summary version of your mobile experience. When I wore the watch, battery life was never a problem; unless you intentionally spend several hours tapping the screen on the watch, you’re never going to drain the battery. I used the app while exercising and was able to track my calories burned as well my targeted heart rate. I also used the Apple Watch at home to read and respond to text messages while my iPhone was in the other room.

To me, the best watch feature is the “Taptic Engine” which is Apple’s fancy word for the thing that vibrates. It produces vibrations which mimic someone tapping you on the wrist a few seconds before you get an alert. This means that right before receiving a text message, I got a little tap or vibration on my wrist letting me know that the text was about to arrive, timing it perfectly as you turn your arm to look at the watch. I thought it was pretty cool to get texts and emails on a watch for a quick review.

Text messages are convenient using the Apple Watch, but making payments is also really easy. To use Apple Pay you just double-click the side button and hold the display of the Apple Watch up to a contactless reader at places like Panera, Staples, and Walgreens. A gentle tap and beep confirm that your payment information was sent. Here’s a link to a full list of stores that accept Apple Pay.

Your Watch is Now Your Wallet

Apple doesn’t store the details of your transactions so they can’t be tied back to you. Your most recent purchases are kept in the Wallet (formerly Passbook®) for your convenience, but that’s as far as it goes. Apple Pay works with your INB personal and business debit cards. Just add your participating cards to the Wallet, and you’ll continue to get all the rewards, benefits, and security of your cards. You don’t have to own an Apple Watch to use Apple Pay with your INB debit card either, but they are fun to have and great for making payments even easier while on the go. Contact an INB banker if you need assistance or have questions about Apple Pay, and we’ll be happy to help!

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