iPhone 6 Announcement Will Bring Apple Into Payments
Yes, I know, you’re tired of hearing how Apple is going to be stepping into payments every time they make some form of announcement, but this time around it’s really quite likely to happen. The iPhone 6 reveal is coming on September 9th and according to Bloomberg Visa, MasterCard and American Express have all agreed to work together with Apple on the much-rumoured payments system.
While we have no actual idea about how this agreement has come about, sources close to the matter are cited and it would make sense that Apple would go after the big players in the payments space for approvals. Seeing as previously iPhones haven’t had NFC capability – and Apple has been pushing it’s iBeacon technology – it would make sense that Bluetooth Low Energy is on the cards as a method of payment. This would mean that retailers need to have those capabilities in place to start with, and so this means that partnerships with retailers need to be made. After all, if the iPhone 6 has the capability, but the retailers don’t, then nobody is going to pay by iPhone.
It’ll be interesting to see how payments are handled too, as I’d expect them to position it in a similar fashion to Google Wallet, Isis and similar mobile payment systems that use digital pre-paid cards that can have other cards loaded onto them for purchases. One things for sure, Apple will almost certainly use its Touch ID technology to verify a payment. But I suppose we’ll find out the intended delivery method for transaction data on September 9th, could HCE NFC be the answer?
Either way, it certainly looks like Apple mean business this time around.
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