Tag: apple mobile payments

Apple may be ready for mobile payments with new iPhone 6

| June 10, 2014

New report highlights the features of the upcoming iPhone 6

New information concerning the iPhone 6 has been released in a report from Venture Beat. The information comes from an as yet unidentified source that claims to have inside knowledge concerning Apple’s operations. The report adds fuel to the already widespread rumors concerning the forthcoming iPhone 6, such as its operating system, and its viability in mobile payments. Notably, the report suggests that the new iPhone will be equipped with NFC technology, which is something Apple has avoided in the past.

New iPhone to finally support NFC technology

According to the report, the iPhone 6 will support NFC technology. Apple had been leery of the technology in the past because of security concerns regarding mobile payments. These concerns seem to have been allayed, however, as the company now believes that NFC may be suitable for a new form of commerce. The technology will allow the iPhone 6 to facilitate mobile payments and support a variety of mobile wallets and similar applications.

Mobile security may be less of an issue thanks to biometric technology

Mobile Payments - iPhoneThe report notes that the iPhone 6 is slated for launch in fall of this year and will be equipped with the iOS 8 operating system. The device will feature wireless charging technology, a bigger and more durable screen, and several other hardware upgrades over its predecessor. The device will also be equipped with Apple’s new biometric sensors, which may be why the company is so keen to support NFC technology as biometrics will help made mobile payments more secure.

Apple finds a solution to its security concerns regarding mobile payments and consumer protection

Apple had opted not to rush into the emerging mobile money scene in order to avoid the pitfalls that other large companies have fallen victim to. Security has been a major issue in the mobile space and large companies have failed to find ways to sidestep some simple problems when it comes to providing consumers with protection against exploitation. With biometric technology, Apple may have found a way to alleviate the security problem.

Apple generates more hype behind mobile payments endeavors

| June 5, 2014

Apple gathers more momentum in the wake of recent event

Apple’s senior vice president of software engineering Craig Federighi recently spoke at the WWDC keynote event, where he brought a great deal of attention to Touch ID, the company’s fingerprint scanner that was introduced last year. Touch ID is part of the iPhone 5S and is meant to add an extra layer of biometric security to the mobile device. This biometric system has created a significant deal of hype around Apple’s potential foray into the mobile payments field, and this hype has only increased in the wake of the WWDC event.

Touch ID could help make mobile shopping more secure

During the event, Federighi noted that developers would soon be able to take advantage of the Touch ID API, allowing them to integrate the features of Touch ID into their applications. This could soon lead to the emergence of a new generation of mobile payments services that are much more secure than their predecessors. Security has been a major challenge for the mobile payments field, with many services falling prey to malicious groups that seek to access the financial information of consumers and businesses. Biometric technology could help alleviate the security problem by make services more resilient against the threats they are exposed to in the mobile space.

Apple continues to move away from NFC

fingerprint scanning mobile paymentsApple has been somewhat outspoken with its security concerns when it comes to the matter of mobile payments. The company had initially shown interest in the use of NFC technology, but NFC has since become unattractive from Apple’s perspective. Instead, the company is focusing more heavily on Bluetooth and cloud technology, with biometrics service as a security barrier that is meant to offer consumers better protection.

Company has yet to make a definitive entry into the mobile payments field

While Apple has been growing more aggressive in the mobile payments field, the company has yet to make a decisive entry into the marketplace. Though iOS devices can be used for mobile shopping and payments, Apple has not yet introduced a service that is specifically designed for payments and is not likely to do so for some time.