Category: Mobile Payments

Mobile payments platform from Apple may be coming soon

| July 28, 2014

Company may be preparing to launch its own payments platform in fall this year

Apple may be preparing to launch its own mobile payments platform alongside the iPhone 6 this fall. The company has been meeting with various prominent payment organizations that have ties to the mobile world and rumors are beginning to circulate regarding Apple’s plans for mobile shopping and a new era of commerce. The company has already been testing a type of mobile payments service in Japan through its iTunes and app stores.

Apple approaches digital commerce with caution because of security concerns

Apple has been slow to enter into the digital commerce space, largely due to concerns regarding security and the lack of technology capable of meeting the company’s high standards. There had been rumors suggesting that the iPhone 5 would be Apple’s entry into the mobile payments space, but this was not the case. The company had opted not to make use of NFC technology, which had been the primary technology through which mobile transactions were made. This technology is now losing ground as the commerce world begins to evolve.

Company forms partnerships to tackle challenges in a changing field of commerce

mobile payments - AppleApple has been partnering with various organizations to develop a better understanding of mobile payments. The company has also been taking mobile security much more seriously. The iPhone 6 will have a more robust biosensor, allowing people to use their fingerprint as a form of identification. This sensor is likely to be incorporated into Apple’s mobile payments venture, as it will add another layer of security to transactions and help keep consumer financial information safe.

Demand for mobile payment support is high among iOS users

There has yet to be any definitive announcement of Apple’s mobile payments plans, but the company has shown strong interest in offering its customers a way to pay for goods and services using little more than a mobile device. Many iOS users have been calling for mobile payment support for some time, praising companies like Google for introducing services  that support mobile shopping on Android devices.

Lullapalooza to support mobile payments

| July 25, 2014

Major event will utilize wearable technology to allow people to pay for goods

Lullapalooza 2014 will be supporting mobile payments through the use of wearable technologies. The event’s organizer has announced that those attending the festival in August will be able to use high-tech wristbands to make transactions. This represents one of the largest events in which mobile payments and wearable technology are combined. While wristbands with imbedded RFID chips are not something new to mainstream events like Lullapalooza, they are most typically used to grant people access to particular areas and not for mobile payments.

RFID-equipped wristbands will make mobile purchases possible

Plastic wristbands equipped with RFID chips are to be used to the festival. Once a visitor enters the festival grounds, they will be able to use these wristbands as a way to pay for goods at the various stalls at the event. These wristbands can also be used at the events bars and payments are made through the use of mobile terminals that are capable of reading the wristband’s RFID chip.

Festival goers need to upload their financial details to the Lullapalooza website before they can use their wristbands

Mobile Payments - ConcertBefore the wristbands can be used, festival goers will have to upload their financial information into the Lullapalooza website. Once this has been accomplished, the wristbands will be sent out before the beginning of the festival. The wristbands will not only accommodate mobile payments, of course, and will function as a way to monitor festival entry as well. This is one of the more common uses for such wristbands and RFID chips are typically used to admittance more so than for mobile transactions.

Wristbands could make paying for goods at the festival safer and easier

Mobile payments have become quite popular in a variety of sectors, but they are new to prominent events like Lullapalooza. Making transactions easier for festival goers is one of the reasons the event has opted to use its new wristbands. The wristbands also remove the need for people to carry around physical currency, which could cut down on the instances of theft that occur at the festival.