Amazon and Apple may control the fate of mobile payments

Mobile Payments Apple and AmazonCompanies may holds significant sway over the future of mobile payments

Commerce is changing as mobile technology begins to play a bigger role in the lives of people around the world. Traditional payments are becoming more cumbersome to consumers, causing many to look for more convenient ways to purchase goods and services. Mobile has become the answer to this problem, with consumers flocking to the concept of mobile payments. As with many other aspects of commerce, a handful of companies and organizations are expected to have a major influence on this sector. Amazon and Apple are among those companies.

Amazon begins breaking into mobile commerce

Amazon has shown strong interest in mobile payments for some time, given that much of the company’s business is firmly within the online world. The company is consider an e-commerce giant, putting it in a position to establish itself as a leading power in the mobile commerce field. Indeed, Amazon has been working on its own mobile payments platform that is being designed with security in mind. Apple, on the other hand, has been very cautious of mobile payments, showing serious concern for mobile security.

Apple showing interest in taking mobile payments to a new level

It had been anticipated that Apple would break into the mobile commerce field with the release of the iPhone 5. This, however, was not the case, as the iPhone 5 did not end up supporting NFC technology as had been expected. While Apple had adopted a slow and steady approach to mobile payments, the company may soon be ramping up its efforts. Those involved in the mobile commerce industry suggest that it would be difficult for the company to break into a sector they do not specialize in, largely due to the various issues involved in general commerce.

Apple may serve as a platform for third party services

Apple has been showing signs that it is interested in service as a platform for mobile payments conducted through third parties rather than developing its own mobile commerce platform. To this end, Apple is likely to have significant sway over the industry, as it will play a role in determining which mobile payments services are viable and which could be considered insignificant.

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