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Apple iPhone 6: Mobile Payments Pioneer?

Apple's latest iPhone could help bring mobile payments to the mainstream.

The tech industry has made a number of attempts to ignite interest in mobile payments, and so far all have fizzled out. Sure, Google Wallet is still around, and Isis is available on a wide range of smartphones, but almost nobody uses them to pay for real goods in real stores. Apple, which might add such functionality to the iPhone 6, could change that.

The company has scheduled a media event for Sept. 9, when it is widely expected to debut two new iPhones and a smartwatch. The next-gen iPhone will differ from previous devices in many ways. Though many consumers may fixate at first on the larger screens (4.7 inches and 5.5 inches), others will be thrilled to learn the iPhone 6 adds NFC for the first time. NFC and mobile payments "will be one of the hallmark features of the device," according to Wired, which cited sources familiar with Apple's plans.

Not only will the device have the necessary components for mobile payments, but Apple is also well positioned to debut its own mobile wallet. As Wired points out, Apple has more than 800 million credit cards on file through iTunes. Further, it has invested in its Bluetooth-based iBeacon technology and has a massive user base eager to adopt new technology. Apple has patented ways for NFC and Bluetooth to communicate with a "secure element" -- needed to protect user identity and bank account data -- within the device, and Apple has held discussions with payment companies in recent months.

 

[Read the rest on InformationWeek]

Eric is a freelance writer for InformationWeek specializing in mobile technologies. View Full Bio

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Byurcan
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Byurcan,
User Rank: Author
9/8/2014 | 10:23:12 AM
Re: Isis is now Softcard
And now the rumors are there will be some sort of synch between the new iphone and iwatch for making mobile apyments. Guess we'll all find out tomorrow
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
9/5/2014 | 12:54:13 PM
Re: Isis is now Softcard
With the agreements that it is reported that Apple already has in place with major issuers, Apple is already kind of ahead of Isis, which struggled a great deal reacing those kinds of deals.
Greg MacSweeney
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Greg MacSweeney,
User Rank: Author
9/5/2014 | 12:12:18 PM
Isis is now Softcard
For obvious reasons, Isis Wallet has rebranded as Softcard.
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